Edmonton recognized for affordable housing and robust economy

Press Release

August 12, 2024

It’s official: Edmonton is having a moment.

Canadian news magazine Maclean’s named Edmonton in its “Best Affordable Places to Live in Canada” list, along with nine other municipalities across the country.

“It’s exciting to see Edmonton being recognized as one of Canada’s best affordable cities,” said Mayor Amarjeet Sohi. “In 2022 alone, we welcomed more than 45,000 new residents, who chose to move here for reasons including affordability, access to services, a thriving economy and more. They stayed for the community, the warm and welcoming people and a quality of life enriched by festivals, arts and culture and the beautiful scenery that surrounds us.”

Affordability matters. Edmonton is the most affordable major city in Canada and fifth most affordable city in the world (source). But that’s not the whole story of why people are choosing to make Edmonton home.

Here’s a sampling of reasons why people are choosing Edmonton:

The region is the fastest growing in Canada, with more than double the national average in export growth, generating more than $110 billion in GDP (source).
The city is home to a young, educated talent pool with seven post-secondary institutions with more than 130,000 students.
Edmonton is the envy of urban planners. The city was the first major Canadian municipality to remove minimum parking requirements, and the city’s zoning bylaw is the most ambitious in the country.
Edmonton’s river valley is North America’s largest urban forest (22 times bigger than Central Park), and the North Saskatchewan River that runs through it has been designated a Canadian Heritage River.
Dubbed Canada’s ‘Festival City,’ Edmonton is packed with cultural events and celebrations. For example, Edmonton was the first North American city to launch a Fringe festival; coincidentally, the Edmonton International Fringe Theatre Festival opens this weekend for its 43rd installment.
Among the city’s many firsts for a Canadian city are the first food bank, the first mosque and the first Hydrogen HUB. Pride Tape was also invented in Edmonton.

Embracing newcomers and new ideas while helping neighbours in times of need has always been the Edmonton way.

“Edmontonians are known for their innovative spirit and love for building community,” said Eddie Robar, Interim City Manager. “We have a saying: ‘five minutes here and you’re one of us,’ and we really feel that way. This welcoming environment, combined with our strategic location and growing infrastructure, are why businesses and industries are increasingly drawn to Edmonton. This influx of investment, talent, and growth raises the profile and momentum of our city.”

Edmonton is also home to thousands of small businesses, including Mother Earth Essentials. Founded by Métis entrepreneur Carrie Armstrong, the company specializes in products created with natural ingredients and Indigenous recipes.

“Edmonton is vibrant, abundant and giving,” Armstrong says. “I love the vibe here, I love the people, I love that we have an interest, spark and reverence for Indigenous culture and I’ve seen that grow. People are super supportive of buying local and now buying Indigenous.”

The September 2024 issue of Maclean’s profiles 10 municipalities where “buyers can find good-sized, high-value . . . family homes without breaking the bank.” Maclean’s highlights Edmonton’s real-estate prices, which “remain well below the national average, with a benchmark sale price of $392,700.” The magazine singles out booming neighbourhoods, including a resurgent downtown, as well as Edmonton’s ambitious city planning, citing “recent zoning changes [that] mean that just about any residential area can soon be used for denser blocks of duplexes, townhouses and apartment buildings.” Alongside housing affordability, Maclean’s observes that Edmonton’s local economy “is outpacing national trends and upending expectations.”

For more information:
why.edmonton.ca
Video: Welcome to Edmonton

Media contact:

Scott Campbell
Communications Advisor
Urban Planning and Economy
780-818-3560

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