The Situation with Affordable housing in EdmontonPosted by Gurpreet Ghatehora on
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…
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