According to the Canadian Mortgage and Housing Corporation's recent Rental Market Report, Edmonton's vacancy rate for rental apartments fell in 2023 to 2.4 per cent from 4.3 per cent the year before. The report, published Jan. 31, said 2023's vacancy rate is Edmonton's lowest in almost a decade as rental demand exceeded new supply entering the market.
Edmonton Housing Market Report
WOWA Trusted and Transparent Market Report Summary for April 2024 - Updated May 6th, 2024
The average price of a home in the Edmonton area reached an all-time high of $431,387 for April 2024, a 5.6% yearly increase and a 2.5% monthly increase.
Benchmark prices grew 4.4% annually to reach 397.2k. Detached home average prices increased 5.9% year-over-year and 2.5% month-over-month to $529,957.
Semi-detached home average prices increased 7.4% year-over-year while they declined 0.5% month-over-month to $406,674.
Townhouse average prices increased 13% year-over-year and 4.2% month-over-month to $294,417.
Apartment average prices increased by 4.4% year-over-year to $200,968.
Apartment prices are 3.5% higher than last month.
June 4, 2024 Update: Today’s Lowest mortgage rate in Edmonton is 4.59% for 5-Year Fixed.
Alberta's population growth is happening at the fastest pace of any province. In the one-year period ending July 2023, Alberta's population grew by four per cent — 56,245 people — due to international immigration as well as people moving from other parts of Canada. In December, Alberta notched its fifth consecutive quarter of inter provincial migration gains of at least 10,000 people. The Edmonton region had a population of 1.1 million in 2022, an increase by almost 11 per cent since 2017. More than 100,000 people moved to Edmonton in two years and this trend is expected to continue which causes strains for housing.