Housing market more affordable in Lloydminster
Lloydminster ranked as one of the more affordable housing markets in Alberta. (Photo: Flickr)
Lloydminster has been ranked as one of the more affordable housing markets in Alberta, according to real estate company Zoocasa. The city is 19 on the list out of 24 markets looked at across the province.
The company compared housing prices to median household incomes to come to a conclusion. In Lloydminster, the average home price is $312,219, which is 6.3 times the median income of one person and 2.8 times a two-person household income.
The cities were ranked based on the home price to income ratio, which saw Canmore at the other end of the spectrum as the least affordable housing market. The mountain town’s average home price is $679,093 over 12 times one person’s income.
Based on Zoocasa’s findings there are a number of viable housing options across the province for households with two incomes, including the Border City.
Fort McMurray tops the list for the most affordable places to live with an average home price of 4.1 times one person’s income of $106,912 and two times a double household income of $221,425. Cold Lake, Grand Prairie, Fort Saskatchewan and Airdrie rounded out the top five for most affordable places.