Edmonton, Alberta is one of two major cities in Alberta. Because it's a city center, people are drawn to Edmonton for the entertainment, industry and culture. If you're thinking about moving to Edmonton, it can be very helpful to know about the cost of living. Maintaining awareness of cost of living can help you decide whether Edmonton is the right place for you.
What's the Cost of Housing in Edmonton?
The average rental prices in Edmonton vary by size and number of bedrooms. Generally, most people pay between $1,000 and $3,000 per month for a two or three bedroom dwelling. As a comparison, Buttonwood residential property management reports that the average rental property in Toronto stands at around $2,200. Cost of housing also depends on whether you're renting a townhouse or a standard apartment.
Most landlords expect their tenants to pay a security deposit of about one month's rent. Most apartments and rental units include climate control, a central vacuum, refrigerator, washer and dryer, oven and dishwasher. If you have a pet, you can expect to look a little longer and harder to find the right apartment for you, and you'll probably have to pay a non-refundable fee. If you buy an apartment, expect to pay a condo fee based on the size of your condo. You can also expect to pay property tax.
Cost of housing is just one fee you can expect to pay when living in the city of Edmonton. Other costs include utilities, transportation, health insurance and so on. Utilities cost between $450 and $650 each month, including Internet, television, heat, and so on. The cost of utilities will vary by the size of the home. Car insurance and registration varies, but most people pay about $135 to $155 each month for insurance. Riding public transportation in Edmonton, you can expect to pay around $100 each month.
Health insurance in Alberta costs nothing as long as you're a permanent resident. However, there is no dental insurance, and many people spend between $40 and $150 on standard dental procedures.
A family of four might spend as much as $225 to $350 on groceries, depending on how much they eat, what they like to eat, where they shop and so on. The amount varies so much that it's difficult to predict what most people will generally spend on their food.
Contact a Real Estate Professional
Do you want to live in Edmonton, AB? If so, contact a real estate professional from the Edmonton area. Your real estate agent can help you decide which homes and neighborhoods are right for you, what homes will fit in your budget, and so on. If you're new to the area, it can be very helpful to have someone available to help you make decisions.
Working with an experienced professional can also help you avoid making home purchasing mistakes, like overbidding for a home or choosing a neighborhood that might not suit your needs. For more information about moving to Edmonton, contact your real estate agent today.
By Justin Havre