Last year, Canada welcomed 202,300 economic immigrants as part of the Canada immigration levels plan. A lot of non-Canadians move to Canada because of the low cost of living and ability to make a high income.
If you are interested in moving to Canada, you might be curious to know about the popular province, Alberta. What is the cost of living in Alberta, Canada?
Keep reading to find out.
What Is the Cost of Living in Alberta, Canada?
The average cost of living in Alberta, Canada excluding rent and homeownership is around $700 for an individual and over $2,000 for a family of four.
A full year of home accommodations can cost between $9,600 and $12,600 depending on if you live with roommates or alone. The average rent in Alberta is one of the lowest compared to the rest of Canada.
North of Alberta, Erin Ridge is being developed for high-income families. If you live here, you’ll pay a much higher cost of living. Check it out now.
The other factors that determine the total cost of living in Alberta, Canada include the following:
Groceries and Restaurants
Grocery and restaurant costs vary from individual to individual. Each person will have a different appetite, quality of food, and a different number of people they need to feed.
The average household spends at least $168 per week on groceries. The monthly estimate for two adults is anywhere between $400 and $600.
A meal can cost between $12 to $25 depending on the pricing of the restaurant. The average person will eat more at home than spend money going out to eat.
If you love caffeine, you’ll have to take into account how many times you purchase one cup of coffee throughout the week.
Moving to Alberta is ideal for many because the cost of utilities is relatively low. Essential utilities for an individual cost, on average, $95 per month, and $147 per month for a family. The utilities included in this pricing are:
- Garbage disposal
Internet services will be an additional $50 or more per month.
Families in Alberta have higher incomes than other Canadian provinces. The average income in Alberta, Canada for families is a median income of $98,400.
For high-income families like this, people tend to own their own vehicles instead of relying on public transportation. Gas costs below $2 per gallon and the amount spent will depend on how much you drive and the vehicle.
For low-income earners, transit passes are used to commute within the local community. A pass costs $99 and allows unlimited rides in all transit services.
Is Alberta, Canada the Right Move for You?
The cost of living in Alberta, Canada is low compared to other provinces in the country. Whether you are high-income or low-income, there is a place for you in Alberta.
Before making the move, create a budget that includes rent, groceries, eating out, monthly bills, and transportation. This will help you live a healthy financial life in Alberta.
For more finance guides like this, check out the other posts on our blog.