One thing the City of Edmonton has repeatedly acknowledged in recent years is its lack of affordable housing. The real estate market in the city is a very competitive and healthy, which can make it difficult for low-income families to find suitable and affordable housing in Edmonton.
Buying versus Renting
Rental rates in Edmonton are sky-high. When you break down the numbers, some areas charge double what the home actually costs by way of a mortgage. An example would be, if a condo or apartment costs a total of $650 per month in a mortgage, it’s likely being renting out for as much as $1100 a month or more (depending on size, location and features). It’s borderline outrageous, but its also what makes the city such a great investment market, and why it