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Study: Fort McMurray Most Affordable Housing Market Across Province

Fort McMurray, AB, Canada / MIX 103.7
Study: Fort McMurray Most Affordable Housing Market Across Province

Abasand May 2018//Photo by: Harvard Broadcasting Reporter Brandon Piper

The most affordable community in Alberta to live in is Fort McMurray.

That’s according to a recent study done by Zoocasa who calculated the home price-to-income ratio in each of the 24 major markets across the province.

The report shows Fort McMurray has one of the highest average home prices at $439,664, however, the average income for a single person was $106,912, around $38,000 more than any other city.

This means the price to income ratio is at 4.1:1, tied with Cold Lake.

No other city was under 5.9:1.

It gets easier for a two-person household.

The average dual income is $221,425, meaning that the price to income ratio is around 2:1.

Coming in at the bottom of the list is Canmore.

Their average house price is $676,093, the highest in Canada, with single and dual households only bringing in $52,224 and $116,975 respectively.

This leaves their ratios at 12.9, for single, and 5.8, for dual.

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