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Calgary Cost of Living: Calgary, AB Living Expenses Guide

Posted by Justin Havre on Monday, June 24th, 2024 at 1:17pm.

Calgary Cost of Living Guide

With a population of over 1.3 million residents clustered around its active city centre, Calgary is Alberta's largest city and the third-largest municipality in all of Canada. Calgary is recognized as both a leader in the Canadian oil and gas industry as well as one of the country's cultural capitals. The city is home to the country's second-highest concentration of corporate headquarters, trailing only Toronto.

The cost of living index for Calgary is 93, which is below Canada's average. Calgary falls very much in line with the cost of living in other major cities, including Toronto and Vancouver. Calgary's cost of living—particularly housing—tends to fluctuate according to how well the economy performs.

Housing prices in Calgary have continued to trend upward recently, though they still tend to be more affordable than the other large cities. Another big factor in Calgary's cost of living is food, which is also trending upward.

Planning on moving to Calgary? The following information can help new residents learn the cost of living in Calgary in various categories.

Is it Expensive to Live in Calgary?

Despite all the great amenities Calgary has to offer, that doesn't necessarily make it an expensive city. While some of a city's cost of living is out of a resident's control, Calgary can be a more affordable or expensive option based on housing and other choices.

Housing is one of the highest costs associated with living here, but it's more affordable than other Canadian cities. Other costs like groceries, transportation, and utilities are roughly the same as national and provincial averages. So while Calgary may not make a list of the cheapest cities in Canada, that doesn't mean that it's out of your budget, and competitive salaries are available to help offset any increases in the cost of living.

Calgary Housing Costs

The average house price in Calgary is roughly $600,000 as of June 2024. The housing market is experiencing a steady increase in prices.

Comparison of Median Housing Costs in Calgary

The median price of homes varies greatly in the communities surrounding Calgary. In nearby Chestermere, the median list price for all homes is around $850,000, while in Cochrane, it is lower at roughly $690,000. To the north of the city in Airdrie, the median price is around $630,000, while Northeast of the city in Beiseker, the price is lower at just under $600,000.

Median Home Price

The median list price for single-family, detached homes in Calgary is trending around $800,000. By contrast, the median list price for Calgary condos for sale is about $350,000, and the median list price for Calgary townhomes is roughly $480,000.

Average sale prices for homes in Calgary vary greatly by neighbourhood. Two of the most popular neighbourhoods in Alberta real estate, Elboya and Whitehorn, have average sale prices of over $1 million and around $570,000, respectively. Another popular yet expensive neighbourhood is Bel-Aire, with an average sale price of over $2.5 million.

The Red Carpet neighbourhood has an average sale price of around $300,000, and the Cliff Bungalow neighbourhood has an average sale price of roughly $460,000. Other affordable neighbourhoods in Calgary include Deer Ridge, Huntington Hills, and more.

Median Rent

Studio apartments in Calgary rent for around $1,500 on average. Two-bedroom apartment rents hover around $2,300 a month, depending on location and square footage, and three-bedroom apartments or townhomes go for about $2,700.

Rents tend to trend higher in the popular Southwest Calgary and Northwest Calgary areas. The median rent in the Brentwood neighbourhood is about $1,900, while in the Montgomery neighbourhood, the median rent is about $1,700. In the Maryland Heights neighbourhood, just east of downtown, the median rent is around $985.

Utilities

Utility Costs in CalgaryThe cost of utilities in Calgary—including electricity, heating, cooling, water, and garbage—can range anywhere between $150 and over $400, depending on the size of the property and your rates.

Electricity and gas tend to make up the brunt of the bill, ranging from $100 to $350. The cost for water, sewer, and waste collection can add $70 to $110 per month.

Internet service in Calgary averages about $75 a month. A typical TV, landline and Internet package ranges from $120 to $180 per month. Mobile phone service for unlimited talk, text and data runs about $100 a month.

Alberta has the second-highest average home insurance premium among all provinces. The average cost of homeowner's insurance in Calgary is $1,200 to $1,440 per year or between $100 and $120 per month. This is higher than the average across all of Canada, which is about $960 annually.

In Calgary and across all of Alberta, estimated monthly costs of renter's insurance are about $25 per month, or $300 per year.

Discover your Calgary dream home today.

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Calgary Food Costs

The average household in Alberta spends anywhere between $150 and $300 a week on groceries. The cost of groceries in Calgary is very similar to that of Edmonton and roughly on par with the rest of the country.

Groceries

Grocery prices have gone up recently in Calgary and all of Canada, having a noticeable impact on the cost of living. Previous predictions were that food prices would increase between 2% and 4%, which translates to an increase of $487 in annual food costs for the estimated monthly costs for an average Canadian family.

Calgary Average Food Costs

Among the most affordable grocery and convenience stores in Calgary are Giant Tiger, No Frills, Real Canadian Superstore, Save on Foods, and Walmart.

Restaurants

Restaurant Costs in CalgaryThe cost of dining out in Calgary varies with the type of restaurant chosen. A combo meal at a fast-food restaurant will be about $14, while a basic lunch at an inexpensive restaurant will run about $24.

A two-litre soft drink costs around $3.30 from a grocery store, while a standard 16 oz can of beer from the grocery store costs about $4.

Calgary Transportation Costs

Vehicle insurance in Calgary is approximately $105 per month on average. If you deliver food for Uber Eats, DoorDash or similar food delivery companies, keep in mind you will need food delivery auto insurance in addition to your regular insurance. Premiums can vary significantly based on age, postal code, driving record, vehicle driven, and other factors.

Calgary Transit (CT) is the provider of public transportation for Calgary. It has a ridership of about 106.5 million trips and provides services through 1,224 active vehicles. CT operates 46 train stations and about 170 bus routes.

Calgary Transit Costs Comparison

CT fare is $3.70 per ride for adults and $2.50 for children aged 13 through 17. Children 12 and under ride free. The cost of a day pass is $11,60 for adults and $8.50 for children. A monthly pass is $115 for adults and $82 for children.

The average cost of a five-mile taxi ride is about $20. When it comes to driving yourself, the gas costs vary but typically range in the $1.40 to $1.60 per litre range.

Calgary Healthcare Costs

Healthcare Costs in CalgaryAlberta has a publicly funded healthcare system, the Alberta Health Care Insurance Plan (AHCIP). AHCIP covers medically necessary doctors' services, some dental and oral surgical health services, psychiatrist visits, medically necessary diagnostic services (including laboratory and radiological procedures), and oral and maxillofacial surgery services. It can cost upwards of $100 for a routine doctor's visit if you are not registered for AHCIP.

Calgary has four major adult acute care hospitals and one major pediatric acute care site. The four largest Calgary hospitals have a combined total of more than 2,100 beds and employ over 11,500 people.

Some routine dental costs are not covered by AHCIP. The cost of a check-up is around $100, with X-Rays going for around the same, depending on how many are taken.

As for veterinary costs, an annual visit for a dog or cat averages between $100 and $200.

Calgary Childcare Costs

Parents in Calgary typically pay an average monthly cost of just under $1,000 for infant care, thanks to the affordability grant. Other major cities like Toronto, at around $1,870 per month, and Vancouver, at about $1,400 per month, have higher childcare costs. Costs for preschool childcare are about $700 per month.

Calgary Average Monthly Childcare Costs

Some examples of childcare in Calgary and their monthly tuition costs are Bow Valley Child Care at $1,872 for infants and YMCA Calgary Child Care at around $500 for 19 months to 6 years.

In Calgary, the typical cost for a live-out nanny is between $16-$19 per hour.

Calgary Entertainment Costs

Entertainment Costs in CalgaryCalgary's charm includes not only its stature as a modern urban center, but its western culture, earning it the nickname "Cowtown." The vibrant city is home to the Calgary Stampede, a massive rodeo and festival held every summer. But arts and culture and outdoor adventures are an important part of Calgary life and things to do as well.

Here are a few ideas to get you started:

  • Alberta Ballet is one of Canada's premier dance companies. Balcony seating can range from $40 to $70, while mezzanine seating is in the $100 range. Theatre tickets in Calgary typically range from $100 to $500.
  • For family fun, the Calgary Zoo admission is between $30.45 and $42.95.
  • Calgary Brewery Tours offers a glimpse of Calgary's craft-brewing community, offering a 3.5-hour tour of local breweries for $110.

The city is also home to a wide selection of restaurants and bars. A dinner for two at a mid-range restaurant will cost about $70 for the evening.

The sales tax rate for Alberta is 5%.

Calgary Salary

Calgary's economy is diverse, and it is impacted by the energy, financial services, logistics, technology, manufacturing, aerospace, health and wellness, retail, and tourism sectors. The region is home to Canada's second-highest number of corporate headquarters.

Popular employers in Calgary include the University of Calgary, ATB Financials, Suncor Energy Inc., Canadian Natural Resources Limited, and Alberta Health Services. Jobs most in-demand in Canada include sales associate, driver, receptionist, welder, web developer, business development manager, general labourer, and project manager.

Monthly Expense Percentages Based on Average Calgary Salary

The highest-paying jobs in Calgary include physician, financial modeller, director of business development, general practitioner, and tax manager.

The average salary in Calgary is $71,000. Calgary's salaries are about 2% less than the Alberta average, but 8% more than the national average.

The minimum wage in Alberta is $15. The income tax rates in Alberta range from 10% to 15% of income.

Final Considerations For the Cost of Living IN Calgary

Known for more than just the largest rodeo in the world, the city of Calgary is an urban centre rich with art and culture, festivals, western history and winter sports, all while serving as a backdrop to the Canadian Rockies. The city has been recognized as a cultural capital of Canada.

But with all of these great amenities, is it expensive to live in Calgary? Great news —the cost of living in Calgary is less expensive than 45% of other major Canadian cities and 65% of cities in North America.

As Alberta's largest city, Calgary's modern economy was built on the oil industry and is considered a leader in the Canadian oil and gas industry. Early this century, the city's economy grew at a significantly higher rate than the overall Canadian economy, at 45% and 25%, respectively.

Other major economic factors impacting the economy are financial services, film and television, transportation and logistics, technology, manufacturing, aerospace, health and wellness, retail, and tourism.

The Calgary metro area is home to the country's second-highest number of corporate headquarters among the nation's 800 largest corporations.

Like with any move, it's important to speak with a real estate professional so buyers have all the information they need. Calgary offers a rich culture and is more affordable than much of North America, and is worth considering as a new home.

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Contact The Justin Havre Real Estate Team to Buy a Calgary Home Today

If you're looking for the perfect Calgary home, contact Justin Havre with eXp Realty and Calgary Homes at (403) 217-0003 to get in touch with a local Calgary real estate agent and discover your new dream home today.

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