Edmonton is a city surrounded by wilderness, offering endless opportunities to explore and put down some roots. But what does it cost to live there?
Centrally located in Alberta, Canada, Edmonton is the province’s capital city and an exciting urban centre, ready for you to explore and call home. As the fifth largest city in Canada, it is also said to be one of the fastest-growing metropolises in the country, offering endless opportunities for adventure and entrepreneurship.
Before you pick up and move to Edmonton, however, you’d probably like to know exactly what it will cost to relocate to this beautiful city in the heart of the prairies. In this article, we break down the monthly expenses of:
- Housing
- Childcare
- Education
- Entertainment and fitness
- Food
- Transportation
- Utilities
Read on to learn more.
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Edmonton’s Cost of Living
Are you and your family looking to relocate for work? Or are you a single person pursuing your next great adventure? Regardless of why you’re considering Edmonton as your future home, you can use the below information, based on statistics provided by Numbeo, to create your budget.
Housing
Housing is one of the main expenses related to cost of living, which means it’s one of the most important figures to determine before you decide to move to a new city. Below we outline how much it will cost you to rent versus buy a home in Edmonton.
How much is it to rent in Edmonton?
Renting in Edmonton is pretty reasonable when compared to other large Canadian cities, with one-bedroom downtown apartments going for a little over $1,200 per month on average. Outside the city centre, you can even find larger, three-bedroom rentals for only about $1,600 per month.
In fact, Numbeo reports that rent prices in Edmonton are a whopping 44.77% lower than in the city of Toronto.
That said, it’s important to also calculate additional housing expenses that will not be included in your rent, such as renter’s insurance.
How much is it to own in Edmonton?
Similarly to rental costs, the price of houses in the city are also on the lower end, from a nation-wide perspective. The average price of an Edmonton house in September 2022 was around $375,000.
Remember, that just like with a rental unit, you’ll also want to consider other costs associated with owning a home that won’t be included in your mortgage payments. For example, expenses like your home insurance or condo insurance, annual property maintenance, and property taxes are all costs that you’ll want to think about.
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Childcare
If you have young children, you’ll likely be looking for some sort of childcare option in Edmonton. While this type of expense won’t be in everyone’s budget, it is extremely important to consider for those who will need to find care.
Typically, you’ll want to decide what type of childcare you’d like before you are able to account for the cost. If you’d prefer a private facility, such as a daycare or preschool, the average cost in Edmonton is about $1,000 per month. For a nanny or babysitter, you’re looking at more than double the monthly cost, with most providers charging an average of $18 an hour or $2,400 a month.
Education
For families with school-aged children, the cost of public school is free for all Canadian residents.
However, if you’d prefer to send your child to a private school, annual tuition can vary greatly. In Alberta, the average cost of tuition is about $15,000 per year.
Entertainment and Fitness
An explorer’s paradise Edmonton may be, but that doesn’t mean you shouldn’t budget for entertainment events and personal fitness costs.
For example, if you enjoy going to the gym, you may want to consider the price of a monthly club membership. In Edmonton, this expense is usually around $60 a month on average. However, if you’re more of a cinephile, the price of admission for a movie is only $15.
Sports fans, on the other hand, will have to account for a bit more. The average cost of an Edmonton Oilers’ ticket is about $80, whereas CFL fans can expect to pay a little more for an Edmonton Elks ticket, which rings in around $85 on average.
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Food
The cost of food for a person in Edmonton will vary based on their preference to cook meals at home versus dine out at restaurants.
For example, for two people to enjoy a meal at a mid-range establishment, the bill would come to around $90. Of course, if you’re more into fast-food or chain restaurants, you can expect to pay more like $25 to $50 per couple for a meal out.
The average household living in the city will likely pay around $350 for groceries per month. This is assuming you buy food weekly and purchase essential items like milk and bread with each shop.
Transportation
Your average monthly transportation costs will depend on whether you’ll be taking public transport or using your own vehicle.
Of course, commuting places via the Edmonton Transit Service (ETS) will be more affordable than driving a car. For example, a one-way ETS ticket is $3.50 and a monthly pass rings in at $100.
However, if you choose to get around town in your own vehicle, you’re looking at substantially higher costs. For example, purchasing a new Volkswagen Golf, or equivalent, would set you back $30,000. Add gas prices, auto insurance, and parking fees into the mix, and you’re looking at a pricey form of transportation.
Utilities
Utilities are essential expenses that you’ll need to consider when evaluating the cost of living in Edmonton. These typically include heat, hydro, electricity, internet, cable, and more.
Below are a few average costs of common utilities:
Cell phone prepaid talk time: $0.35 per minute (no plan)
Internet and cable: $78.38
Electricity, heating, and hydro: $254.85
Previous City Series Articles
Want to know how much it costs to live in other Canadian cities? Check out APOLLO Magazine’s previous articles in this series:
- The Average Cost of Living in Vancouver
- The Average Cost of Living in Calgary
- The Average Cost of Living in Montreal
- The Average Cost of Living in Ottawa
- The Average Cost of Living in Toronto
No matter where you’re located, living expenses add up. Protect your finances with comprehensive insurance coverage from APOLLO.
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