Is Calgary affordable

Is Calgary Affordable?

Are you considering a move to Calgary? Wondering if it’s a city that offers an affordable cost of living? Look no further. Calgary provides a range of affordable options for residents, making it an attractive choice for individuals and families alike.

When it comes to finances, Calgary shines. The city boasts one of the highest median after-tax incomes in Canada, allowing residents to earn more and enjoy a higher quality of life. Additionally, Alberta has lower taxes compared to other provinces, with no provincial sales tax (PST) or municipal land transfer tax (LTT) when purchasing a new home.

Whether you choose to rent or buy, housing in Calgary is more affordable compared to other major Canadian cities. This means you can find a place to call home without breaking the bank. From downtown condos to suburban neighborhoods, Calgary offers affordable housing options for every budget.

But it’s not just housing that’s affordable in Calgary. The city also boasts a range of amenities and services with reasonable price tags, including healthcare, transportation, and everyday expenses. This allows residents to enjoy a comfortable and affordable lifestyle.

If you’re looking for an affordable city to live in, Calgary checks all the boxes. Its high after-tax income, low taxes, and affordable housing options make it a top choice for individuals and families looking to make their money go further.

Key Takeaways:

  • Calgary has one of the highest median after-tax incomes in Canada, allowing residents to earn more.
  • Alberta has lower taxes compared to other provinces, with no PST or LTT when buying a new home in Calgary.
  • Both renting and buying a home in Calgary are more affordable compared to other major Canadian cities.
  • Calgary offers a range of affordable neighborhoods for residents to choose from.
  • The city also provides affordable amenities and services, ensuring a comfortable and affordable lifestyle.

High After-Tax Income in Calgary

Is Calgary affordable? When it comes to income, Calgary stands out with its impressive after-tax earnings. As the largest city in Alberta, Calgary boasts the highest median household after-tax income in Canada, averaging at $107,400. This figure has consistently remained high over the past decade, solidifying Alberta’s position as the province with the top median after-tax income among all Canadian provinces.

Calgarians benefit from this high income in various ways. With more purchasing power, individuals and families can afford a comfortable lifestyle, meet their financial goals, and save for the future. The combination of a lucrative job market and a lower provincial income tax rate contributes to this financial advantage. Moreover, living in Calgary means no provincial sales tax (PST), resulting in even more disposable income for residents.

With such a strong financial foundation, Calgarians have the means to invest, support local businesses, and contribute to their communities. The high after-tax income not only enhances the quality of life but also provides opportunities for individuals and families to thrive.

Overall, the high after-tax income in Calgary reflects the economic prosperity and success that the city offers. It allows residents to enjoy a higher standard of living and fosters a thriving business environment. The combination of financial stability, low taxes, and numerous opportunities makes Calgary an attractive destination for individuals seeking a prosperous and fulfilling life.

Low Taxes in Alberta

When it comes to taxes, Alberta stands out as one of the most favorable provinces in Canada. Not only does Alberta have the lowest provincial tax rate in the country, but it also benefits from the absence of certain taxes that can significantly impact affordability.

One of the key advantages for residents is the fact that Alberta does not have a provincial sales tax (PST). Unlike other provinces where consumers have to factor in an additional percentage at the register, Albertans enjoy the freedom of paying only for the goods and services they purchase without any additional taxes.

“Alberta’s no PST policy allows consumers to keep more of their hard-earned money, making day-to-day expenses more affordable,” says John Morrison, a tax expert at Calgary Consulting Firm. “This encourages spending and ultimately stimulates economic growth in the province.”

Furthermore, if you’re considering buying a property in Calgary, you’ll be pleased to know that the city does not impose a municipal or provincial land transfer tax (LTT). Unlike some major cities in Canada, where homebuyers are required to pay a tax based on the purchase price of the property, Calgary eliminates this additional expense, making homeownership more accessible and affordable.

The combination of a low provincial tax rate and the absence of PST and LTT in Calgary provides residents with significant financial advantages. While other provinces and territories have tax rates ranging from 5% to 15%, Albertans can enjoy more disposable income, enabling them to meet their daily needs and save for the future.

Provincial Tax Rates Comparison

Let’s take a look at a comparison of the provincial tax rates in Canada:

Province Tax Rate (%)
Alberta No provincial tax
British Columbia 5.06
Manitoba 10.8
New Brunswick 9.68
Newfoundland and Labrador 15.%

Affordable Rental Market in Calgary

The rental market in Calgary remains more affordable compared to other major Canadian cities. Despite rising rental rates across the country, Calgary still offers lower average monthly rental prices, with the average rental price in 2022 being $1,351. This affordability allows residents to allocate a smaller portion of their income towards housing and have more disposable income for other expenses.

Calgary’s affordable rental market provides a wide range of options for individuals and families looking for quality housing at reasonable prices. Whether you’re a student, young professional, or a growing family, Calgary offers a diverse selection of rental properties to suit different budgets and preferences.

Whether you’re seeking a downtown apartment, a cozy suburban townhouse, or a spacious family home, Calgary has a variety of rentals available to accommodate your needs. With affordable rental rates, you can find a comfortable living space without breaking the bank.

Average Monthly Rental Prices in Calgary

Property Type Average Monthly Rent (2022)
Studio Apartment $1,100
One-Bedroom Apartment $1,300
Two-Bedroom Apartment $1,500
Three-Bedroom House $1,800

These average rental prices are significantly lower compared to other major Canadian cities, making Calgary an attractive option for those seeking an affordable place to live. Whether you’re a renter looking to save money or an investor looking for rental properties with promising returns, Calgary’s rental market offers great opportunities.

With affordable rental rates and a wide range of housing options, Calgary provides a favorable rental landscape for individuals and families alike. By choosing Calgary as your home, you can enjoy a high standard of living without sacrificing your financial well-being.

Is Calgary affordable: Homeownership in Calgary

When it comes to affordable housing, Calgary stands out as one of the most attractive options in Canada. With its affordable home prices and accessible housing market, buying a home in Calgary is a viable and appealing choice for individuals and families.

In fact, Calgary boasts the second most affordable housing market among major Canadian cities. The benchmark home purchase price in Calgary is significantly lower compared to cities like Toronto and Vancouver, with a remarkable difference of $200,000. This affordability factor means that potential homeowners can secure their dream homes without breaking their budget or compromising their financial stability.

Moreover, Alberta’s absence of a land transfer tax further reduces the cost of homeownership in Calgary. This means that buyers can save even more money when purchasing a property, making the process more accessible and affordable for aspiring homeowners.

Benefits of Affordable Homeownership

There are numerous advantages to homeownership in Calgary’s affordable housing market. Here are a few key benefits:

  1. Stability: Owning a home provides stability and security for individuals and families. With a mortgage and a fixed place to call home, homeowners have peace of mind regarding their living situation.
  2. Equity Building: When you own a home, you have the opportunity to build equity over time. As the value of your property increases and you pay off your mortgage, you are essentially investing in your future.
  3. Personalization: Homeownership allows you to personalize your living space and make it truly your own. From renovations to interior design choices, you have the freedom to create a home that reflects your unique style and preferences.
  4. Community Engagement: Being a homeowner often fosters a stronger sense of community engagement. When you establish roots in a neighborhood, you have the opportunity to form connections with neighbors, local businesses, and community organizations.
  5. Financial Benefits: Homeownership can also bring financial benefits, such as tax advantages and the potential to generate rental income from secondary suites or rental properties.

With Calgary’s affordable housing market, these benefits are within reach for those looking to invest in their future through homeownership. Whether you’re a first-time buyer or a current homeowner looking to upgrade, Calgary offers a wealth of affordable options suited to your needs and preferences.

With Calgary’s affordable housing market and the various advantages of homeownership, it’s no surprise that many individuals and families are choosing to make Calgary their home. The combination of affordable home prices and a thriving city full of opportunities makes Calgary an ideal place to settle down and build a fulfilling life.

Housing Market Trends in Calgary

The housing market in Calgary has been subject to recent changes and trends, influenced by various factors such as expanded immigration targets and interprovincial migration. These factors have contributed to an increase in demand, which, in turn, has led to a rise in housing prices.

For instance, the average asking rent for a two-bedroom place has seen a significant increase of 14.5% in the past year. Rents citywide have experienced an even more substantial growth, with a rise of 25%. These figures indicate the upward trajectory of the Calgary housing market, with higher prices becoming the new norm.

Despite these increases, Calgary’s affordability position remains favorable compared to other major markets. While the rise in housing prices is a concerning trend, it is important to note that Calgary still offers more affordable housing options when compared to cities like Toronto and Vancouver.

However, it is important to address the need for more housing supply in order to maintain and improve affordability for residents. As demand continues to rise, it is crucial to ensure that there are enough affordable housing options available for low-income households.

Efforts should be made to promote the development of affordable housing projects and encourage the construction of new homes. By addressing the supply-demand imbalance, the housing market in Calgary can strike a balance between affordability and accessibility for all residents.

In summary, the housing market in Calgary has seen an increase in demand, leading to rising housing prices. Despite these increases, Calgary remains comparatively more affordable than other major markets. However, it is essential to focus on improving housing affordability by increasing housing supply and ensuring the availability of affordable options for low-income households.


In conclusion, Calgary offers a relatively affordable lifestyle compared to other major Canadian cities. The high after-tax income, low taxes, affordable rental market, and accessible homeownership options make Calgary an attractive choice for individuals and families looking for a more affordable place to live.

Calgary’s high median household after-tax income, averaging $107,400, provides residents with increased purchasing power and the ability to build a secure financial future. The absence of a provincial sales tax (PST) and municipal land transfer tax (LTT) in Calgary further contributes to the city’s affordability.

Both the rental market and homeownership options in Calgary offer affordability advantages. Despite rising rental rates nationwide, Calgary’s average monthly rental prices remain lower, and the city offers a more accessible housing market. The absence of a land transfer tax in Alberta makes buying a home in Calgary more affordable.

While housing prices and rental rates have increased in recent years, Calgary’s affordability position remains relatively favorable. Considering Calgary’s affordability and various housing options can play a significant role in individuals and families’ decision to move to the city. By choosing Calgary, individuals can achieve their desired quality of life without compromising their financial well-being.

Is Calgary affordable?

Yes, Calgary offers an affordable lifestyle compared to other major Canadian cities.

What is the cost of living in Calgary?

The cost of living in Calgary is relatively affordable, with lower taxes and affordable housing options.

Are there affordable neighborhoods in Calgary?

Yes, there are several affordable neighborhoods in Calgary where residents can find more affordable housing options.

How is the housing affordability in Calgary?

Despite recent increases in housing prices, Calgary still has a more affordable housing market compared to cities like Toronto and Vancouver.

What are the living expenses in Calgary?

The living expenses in Calgary are generally affordable, with lower taxes and a relatively lower cost of housing compared to other major Canadian cities.

Are there affordable housing options in Calgary?

Yes, Calgary offers affordable housing options for both renting and buying, making it an attractive choice for individuals and families seeking affordability.

How is the financial affordability in Calgary?

Calgary has one of the highest median after-tax incomes in Canada, providing residents with more financial stability and purchasing power.

Is Calgary a good place to build an affordable lifestyle?

Yes, Calgary offers opportunities to build an affordable lifestyle with its favorable income levels, lower taxes, and affordable housing market.

Is there an affordability index for Calgary?

While there is no specific affordability index for Calgary, the city’s high after-tax income and relatively affordable living expenses contribute to its overall affordability.