{"id":15669,"date":"2018-07-19T10:21:19","date_gmt":"2018-07-19T14:21:19","guid":{"rendered":"http:\/\/www.zoocasa.com\/blog\/?p=15669"},"modified":"2018-07-19T14:00:34","modified_gmt":"2018-07-19T18:00:34","slug":"how-affordable-is-the-calgary-real-estate-market-infographic","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/how-affordable-is-the-calgary-real-estate-market-infographic\/","title":{"rendered":"How Affordable is the Calgary Real Estate Market? [INFOGRAPHIC]"},"content":{"rendered":"

Calgary, Alberta\u2019s most populous city, is perhaps internationally best-known for hosting the \u201cGreatest Outdoor Show on Earth\u201d, aka the Calgary Stampede, each July. But there\u2019s a heck of a lot more to Cowtown than rodeos, two-steppin\u2019, and the best donair found west of Halifax.<\/p>\n

The business hub of western Canada and home to 115 head offices, Calgary is recognized as a global leader in energy and engineering with GDP growth nearly double that of Canada\u2019s largest cities (at 6.3 per cent projected in 2018, compared to 3.6 per cent in Toronto, and 3.4 per cent in Vancouver).<\/p>\n

While a dependency on the oil and gas industry (which accounts for 70-per-cent of Calgary-based businesses) can cause employment volatility and exposure to boom-bust cycles, residents earn more on\u00a0average than other Canadian cities, with a weekly take-home pay of $1,156.86 each week, compared to $1,015.31 and $950.74, in Toronto and Vancouver, respectively.<\/p>\n

One of Canada\u2019s Healthiest Cities<\/h2>\n

It\u2019s also a family-centric natural wonderland, filled with parks, North America\u2019s longest connected bike trail system, and proximity to the majestic Rocky Mountains; close access to the some of the world\u2019s best trails, rivers, and green spaces make Calgary a mecca for those who enjoy an active lifestyle. It has also garnered it a top-five ranking on the Economist\u2019<\/em>s \u201cMost Livable Cities in the World\u201d list each year since 2009, and second place by the Conference Board of Canada for healthy lifestyle and life satisfaction.<\/p>\n

How Affordable is the Calgary Real Estate Market?<\/h2>\n

Another reason to love this slice of Wild Rose Country is Calgary real estate<\/a>, which is very affordable in comparison to Canada\u2019s priciest markets. Unlike Toronto and Vancouver, where home prices have far outpaced wages, Calgarians earning the city\u2019s median household income<\/a>\u00a0have a wealth of housing options to choose from, located in every quadrant of the city.<\/p>\n

Factoring in the benchmark in each of Calgary\u2019s eight main districts (City Centre, North East, North, North West, West, South, South East, and East), and assuming a 20-per-cent mortgage down payment, a recent study from Zoocasa found that, with the exception of City Centre, households earning a median dual income of $115,403 can afford any type of housing priced at the city\u2019s benchmark, in any neighbourhood.<\/p>\n

Households earning the median single income of $53,342 also have the opportunity to own property in Calgary, affording a benchmark-priced apartment in all eight districts, a semi-detached home in five, and a rowhouse within six.<\/p>\n

In fact, even an individual earning the minimum wage of $26,327 (based on $13.43 per hour, a 40-hour work week and 49 working weeks per year) can afford a rowhouse located in the city\u2019s eastern neighbourhoods. In comparison, single- and low-earning individuals are effectively priced out of the Toronto and Vancouver housing markets altogether.<\/p>\n

Home buyers in Calgary also pay among the lowest land transfer fees<\/a>\u00a0in the nation, at an average of just $269 per transaction, compared to the whopping $20,076 and $25,162 paid in Vancouver and Toronto.<\/p>\n

\"calgary-home-affordability-salary-zoocasa\"<\/a><\/p>\n

*Source: <\/em><\/strong>Calgary Economic Development<\/em><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Calgary, Alberta\u2019s most populous city, is perhaps internationally best-known for hosting the \u201cGreatest Outdoor Show on Earth\u201d, aka the Calgary Stampede, each July. But there\u2019s a heck of a lot more to Cowtown than rodeos, two-steppin\u2019, and the best donair found west of Halifax. The business hub of western Canada and home to 115 head […]<\/p>\n","protected":false},"author":39,"featured_media":15675,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[1107,33],"tags":[],"class_list":["post-15669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-real-estate-news"],"yoast_head":"\nHow Affordable is the Calgary Real Estate Market | Zoocasa<\/title>\n<meta name=\"description\" content=\"How affordable is the Calgary real estate market? 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