Cost of Living
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The purpose of the 2007 Place-to-Place Comparison Survey is to measure and compare price differences in Alberta during a specific point in time. The survey presents findings for 34 Alberta communities and provides a comparison of price levels within these communities to those in Edmonton (i.e. Edmonton =100.0) for a common basket of goods and services consisting of 292 items. 5 Central Region Communities were sampled in the survey: Ponoka, Stettler, Olds, Red Deer, and Rocky Mountain House. These five have been compared to Calgary, Edmonton, Lethbridge, Medicine Hat and Fort McMurray.
Central Alberta residents enjoy a high quality of life and a low cost of living. Central Alberta communities consistently rank lower than Edmonton and Calgary on basic necessities like food, shelter, and non-food items.
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Housing Prices 2001-2007
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Red Deer
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Edmonton
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Calgary
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Wood Buffalo
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Grande Prairie
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Lethbridge
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Medicine Hat
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2001
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$183,922
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$188,630
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$239,437
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na
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na
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$159,660
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$171,215
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2002
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$181,618
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$204,922
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$242,386
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na
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na
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$162,688
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$178,474
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2003
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$196,960
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$223,507
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$267,104
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$313,267
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$168,550
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$173,845
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$199,450
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2004
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$217,048
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$242,175
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$285,243
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$297,629
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$187,842
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$187,963
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$222,485
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2005
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$239,337
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$266,728
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$315,796
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$462,451
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$210,937
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$215,335
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$255,256
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2006
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$257,261
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$304,894
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$353,662
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$517,524
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$254,350
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$244,486
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$263,102
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2007
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$270,494
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$338,636
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$414,066
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$463,239
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$264,791
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$229,646
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$249,268
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Housing Prices 2003 - 2007 Graph
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Growth in New Home Prices
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City
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2002-2003
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2003-2004
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2004-2005
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2005-2006
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2006-2007
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2002-2007
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Red Deer
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8.40%
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10.20%
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10.30%
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7.50%
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5.10%
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41.50%
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Edmonton
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9.10%
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8.40%
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10.10%
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14.30%
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11.10%
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53.00%
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Calgary
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10.20%
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6.80%
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10.70%
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12.00%
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17.10%
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