Top 5 Cheapest places to live in Alberta with the Best quality of life – 2024
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Cheapest places to live in Alberta

Top 5 Cheapest places to live in Alberta with the Best quality of life – 2024

Ranking Studies
Canada
Alberta
  • Last updated on:
  • Picture of Alexa Polichronis Alexa Polichronis

Home to a population of more than 4.6 million people, Alberta is the westernmost province of Canada’s three Prairie provinces. Alberta has a variety of beautiful landscapes, nature reserves and provincial parks. With over 87 districts, Alberta has something for everyone.

Before moving, it is suggested to research the cost of living in Calgary so you have a better understanding of your potential new home. It is best to ask yourself certain questions regarding the area and to explore to make the right decision. Here are the lists of the top 5 cheapest places to live in Alberta with the best quality of life this year.

Cheapest places to live in Alberta infographic map

Methodology

We based our ranking of the 5 cheapest places to live in Alberta on the average cost of buying a property, the average cost of rent for a 1-bed apartment, and the quality of life. We focused on smaller cities (non cosmopolitan) to ensure the cost of housing and renting was affordable. We collected the data from The Canadian Real Estate Association (CREA) and Zumper. To help you compare, as of August 2024, the average cost of buying a property in Alberta is $485,957.

The “Best quality of life” aspect is measured based on feedback from real people who have moved to this area in our database or real people from trusted online forums. More specifically, we look for positive feedback on job opportunities, quality of education, quality of healthcare, feeling of safety, public transportation, environment (cleanliness), as well as availability of recreational facilities and parks.

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Cheapest places to live in Alberta (non cosmopolitan)

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1. Grande Prairie

  • Alberta’s affordable city
  • Average 1-bed apt rent: $1,249
  • Average property buying cost: $349,706

Our top pick for the cheapest places to live in Alberta is Grande Prairie, offering a combination of convenience and tranquility. Located in the northwest of Alberta, Grande Prairie boasts the largest commercial center north of Edmonton.Noted by many locals, Grande Prairie features the Eastlink Center, providing facilities for the gym, a pool, and childcare drop-off. You can also expect to find several peaceful parks with stunning views, such as Muskoseepi Park and Crystal Lake Park, which promote outdoor recreation and family-friendly activities.Rent and housing is very affordable in Grande Prairie, making it one of the cheapest places to live in Alberta.

City of Grande Prairie (Oct 2024), Zumper (Oct 2024) & CREA (Aug 2024)

 

Grand Praire, Alberta

2. Medicine Hat

  • Great retirement community
  • Average 1-bed apt rent: $1,225
  • Average property buying cost: $360,339

Medicine Hat is located in the south of Alberta, along the South Saskatchewan River. The city is about 169 km east of Lethbridge and 295 km southeast of Calgary. Locals take pleasure in participating in outdoor activities and being surrounded by wildlife in Medicine Hat. Medicine Hat is often known as the retirement community, where relaxation is frequently enjoyed.After a week’s work, locals love to wind down at their local breweries known as Travois Ale Works, Medicine Hat Brewing Company, or Hell’s Basement Brewing. There are also local coffee shops for a midday pick-me-up, such as Madhatter Coffee Roastery. If you enjoy fishing, Medicine Hat would be the perfect place for you as the South Saskatchewan River flows right through the town.

City of Medicine Hat (Oct 2024), Zumper (Oct 2024) & CREA (Aug 2024)

 

Medicine Hat, Alberta

3. Lethbridge

  • Close proximity to United States border
  • Average 1-bed apt rent: $1,348
  • Average property buying cost: $391,452

Lethbridge is a city located just outside of Calgary. In addition to offering affordable housing, its amenities include the University of Lethbridge, which is a 10-minute drive from Downtown Lethbridge. Locals appreciate the green spaces provided throughout the city, such as Botterill Bottom Park and Peenaquim Park, where multiple hiking trails can be found.Lethbridge is the perfect blend of city and suburban life, thanks to the City Centre where you can find an assortment of restaurants, shopping malls, local businesses, and parks. Residents not only love the peaceful atmosphere of the city but also appreciate its proximity to the United States border—accessible by car, it is just 100 km away!

Zumper (Oct 2024) & CREA (Aug 2024)

 

Lethbridge, Alberta

4. Red Deer

  • The best of both worlds
  • Average 1-bed apt rent: $1,095
  • Average property buying cost: $400,000

Red Deer is located about halfway between Calgary and Edmonton. Locals love that Red Deer has a great public transit system, beautiful riverside parks, trails, and fantastic education including Red Deer Polytechnic with its new Canada Games Center which acts as a hub for fitness, events, and activity within the community. If you enjoy hunting and fishing in your pastime, Red Deer is known for its trails and shooting ranges, including the Red Deer Shooting Centre. As noted by residents, Red Deer has a smaller-town feel filled with family-friendly amenities.

City of Red Deer (Oct 2024), Zumper (Oct 2024) & CREA (Aug 2024)

 

  • Content verified by a local expert
Cordell Nielson
Cordell NielsonReal estate agent at MaxWell Reliant Realty

“As a local real estate expert, I couldn’t agree more with everything mentioned above. Red Deer really is in the perfect spot—not too far from Alberta’s big cities, so you get the best of both worlds. You’ll find affordable housing, lots to do, and stunning nature that makes it such a peaceful place to call home, with endless outdoor activities to enjoy.”

Red Deer, Alberta

5. Lloydminster

  • On the border of Saskatchewan and Alberta
  • Average 1-bed apt rent: $1,040
  • Average property buying cost: $290,134

Lloydminster is located directly on the border of the provinces of Saskatchewan and Alberta. Equipped with its own airport known as the Lloydminster Municipal Airport, the city offers its residents close shopping in Edmonton, which is a two-hour drive, or in Saskatoon, which is a three-hour drive.It has been noted by locals that there are not many entertainment options in Lloydminster, but this is what adds to its beauty as you are surrounded by nature. There are plenty of outdoor summer activities for children to enjoy at Kinsmen Participark, and for adults, the city has its own golf course, the Lloydminster Golf and Curling Centre. It’s worth mentioning that while Lloydminster’s crime rate (207.96 CSI) is higher than in other parts of Alberta, its affordability keeps it on the list of cheapest places to live.

Zumper (Oct 2024) & CREA (Aug 2024)

Lloydminster, Alberta

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Conclusion

When planning to buy a home, financial considerations cannot be forgotten. It is also important to be aware of the safety and protection of the towns in Alberta. Our list of the top 5 cheapest places to live in Alberta with the best quality of life this year can help you decide where you’ll live. 

Selecting the right place to live can require thoughtful planning, so be sure to review this list before making your decision. 

Are you planning to move soon? Learn about the Best Calgary movers!

 

Last year’s ranking (2024)

  1. Grande Prairie
  2. Medicine Hat 
  3. Lethbridge
  4. Red Deer
  5. Lloydminster

 

Our rankings are meticulously curated with a focus on safety, affordability, and quality of life. Please note that some locations from last year’s rankings may have been excluded from this year’s list due to deviations from our methodology. This could include areas with insufficient rental/safety data or those with higher/lower averages compared to the previous year. We encourage readers to consider these rankings in conjunction with their individual needs and preferences to make well-informed decisions.

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Alexa Polichronis

The author

Meet Alexa, the Marketing Coordinator at MovingWaldo. Having acquired a wealth of knowledge over the years about the moving industry, Alexa knows all the tips and tricks to make your move a breeze. Equipped with creativity and a passion for efficiency (and a love for travel), she’s here to present information in the most effective way, ensuring you save time and money.

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