These Alberta Cities Rank Among Canada’s Most Affordable for Comfortable Living

When it comes to stretching your dollar, Alberta is home to several cities where the cost of living is lower than in many other parts of Canada — and some have even been named among the country’s best spots to live comfortably.

MoneySense, a Canadian personal finance and lifestyle magazine, recently looked at the cost of living in 79 Canadian cities to determine how much income a single person would need to feel financially secure.

To get a clear picture, the study used a cost-of-living tool from CareerBeacon. It factored in the average monthly expenses for a single renter — including housing, food, utilities, transportation, clothing, leisure, and other basics. On top of that, the analysis included deductions for taxes like EI and CPP (typically 20%–25% of gross income), recommended savings (10%–15%), plus a “comfort margin” of 10%–20% for unexpected costs or extra savings.

In simple terms, MoneySense calculated that living comfortably works out to about double the basic cost of living in each city.

Alberta cities that made the list

Eight Alberta communities earned a spot, with Medicine Hat ranking especially high. It placed third in all of Canada, requiring just $70,416 a year for a comfortable lifestyle.

Here’s how the rest of Alberta stacked up for annual income needed:

• Airdrie – $91,464

• St. Albert – $88,728

• Calgary – $87,894

• Grande Prairie – $84,600

• Edmonton – $79,080

• Red Deer – $78,384

• Lethbridge – $73,608

Where it’s most expensive to live comfortably

Not surprisingly, cities in Ontario and B.C. topped the “most expensive” list:

• Richmond Hill, ON – $106,536

• Milton, ON – $106,392

• Whitby, ON – $105,624

• Coquitlam, BC – $104,928

• North Vancouver, BC – $103,512