How much do you need to earn to live comfortably in Calgary? [2024]

The city of Calgary boasts a strong job market and stunning natural surroundings. Housing is relatively affordable compared to nearby Vancouver and other large Canadian cities. Alberta tax rates are low, and who wouldn’t want to live next door to Banff National Park?

We’ve compiled a guide detailing how much you would need to earn to live comfortably in Calgary If “Cow-town” is on your list of possible cities to move to, keep on reading!

How much will I pay for rent in Calgary?

Rental rates in Alberta are a breath of fresh air compared to major cities in B.C. or Ontario. The average cost to rent a house in Calgary is only CA$1975 per month. Apartment rentals average around CA$1200 per month.

The neighbourhoods with the most expensive rental rates tend to be located near the downtown core and in wealthy areas with high demand. These areas include:

• Beltline

• Mission

• The downtown commercial core

• Mount Royal

• Bridgeland

• Eau Claire

Most of the more affordable areas to rent are in the southeast corner of Calgary:

• Forest lawn

• Dover

• Ogden

If you live with a partner or are willing to share your rental with roommates, you can expect to pay about CA$650 to CA$800 per month in rent.

Average monthly cost for rent: CA$800

What if I have a mortgage?

Planning to buy? Once you've qualified for a mortgage, you can calculate your monthly mortgage payments based on the average home price in Calgary, which is CA$588,600. With a 20% down payment and a 6.49% interest rate over a 30-year term, the estimated monthly mortgage payment for a home at that price would be approximately CA$2,969.35.

The average house price for a home in a more affordable neighbourhood such as Forest Lawn, is around CA$510,000. Using the same calculations as above, the average mortgage rate would be approximately CA$2,575 per month.

Average monthly mortgage payment, if you were splitting it with a partner: CA$1380

How much will I spend on food in Calgary each month?

Your grocery expenses vary based on your lifestyle. Growing a vegetable garden can help reduce costs during the growing season. If you buy a lot of organic or specialty items, your costs will be a bit higher. Calgary's proximity to farming regions means there’s a good selection of fresh, locally produced food, which is a healthier choice for you, your family, and the planet.

For a family of four, the average monthly grocery bill is around CA$1,900. A single person can expect to spend about CA$430 per month, for couples, it’s around CA$860 per month.

Monthly food costs for one person: CA$430

How much will my electricity and household bills be?

Calgary’s proximity to the Rocky Mountains means that its winters are more moderate compared to other cities in the Canadian prairies. This means your winter heat bill won’t be quite as high as somewhere with harsh winters and extreme cold, like Winnipeg.

Variables like the size of your home and the number of occupants can affect your utility bill totals. On average, a family of four in Calgary can expect to pay around CA$400 per month for utilities, including electricity, heating, water, garbage collection, air conditioning, and internet.

Monthly bills: CA$200

What does it cost to get around in Calgary?

Public transit is highly underrated and a great help to the planet, as it reduces the number of vehicles on the road. Taking the bus is always an affordable and convenient option in any city. A single bus in Calgary ride costs CA$3.60, or you can buy a monthly pass for CA$116. Seniors and youth get discounts for the monthly pass, with fares of CA$93 and CA$97, respectively. Calgary also offers a reloadable smart card, which can make things even cheaper.

If you prefer driving, expect to spend about CA$90 to CA$120 per month at the gas station, depending on your driving habits.

Save money, ride a bike! (During the warmer seasons, of course.) Calgary is bike-friendly, with lots of bike lanes, alleys and paths. Aside from occasional bike maintenance and gear purchases, cycling around the city is essentially free.

Average monthly transportation cost: CA$105

How much does it cost to eat out in Calgary?

Your monthly spend on dining depends on your dining habits and frequency, and the kind of places you choose.

If you're eating fast food, expect to pay around CA$12 per meal. Casual dining at a mid-range restaurant, including a drink, will cost about CA$28 per person.

Meals at high-end restaurants usually fall between CA$45 and CA$65 per person. At top-tier, fancy establishments, you could spend up to CA$80+ per person for both food and drinks.

Monthly restaurant costs: CA$175 - CA$300 per person

What will I spend on entertainment when living in Calgary?

Your monthly entertainment costs will depend on the kinds of entertainment you like to enjoy. In downtown Calgary, locals like to dine out, go see live or electronic music, or enjoy a play at Theatre Calgary. The Rocky Mountains are nearby for outdoor lovers to enjoy skiing, hiking and other mountain sports. There are also festivals, museums and galleries to keep you entertained for weeks, and the Calgary Zoo is always a hit with the kids.

Tickets and passes to music, theatre, museums, galleries and the zoo are moderate, ranging from CA$20 - CA$40 per person.

Monthly entertainment costs: CA$120 - CA$180 per person

How much can I expect to spend on basics?

Basic living expenses include rent or mortgage, groceries, transportation and occasional entertainment or dining out. In Calgary, you can expect your monthly expenses to be anywhere between CA$2,000 and 2,400. For a modest lifestyle with a small family, expect to spend around CA$4,000 monthly.

To live simply as a single person in Calgary, you'll need an annual income of around CA$27,000. This is a bit lower than a full-time minimum wage salary, yet it's before taxes, RRSP contributions, and CPP deductions. It also doesn't account for savings, vacations, or unexpected costs, such as appliance replacements or car repairs. On average, Canadians spend about CA$4,000 a year maintaining a car.

In Calgary, to cover basic expenses and own a vehicle, you'd need to earn around CA$33,000 annually.

If CA$27,000 covers the basics, how much do I need to earn to live comfortably?

To live comfortably as a single person in Calgary, you’d need to earn at least CA$42,000 annually. This would cover the cost of renting an apartment either downtown or in an affluent area, while leaving room in your budget for leisure and financial stability. Work-life balance and piece of mind are both big factors in comfortable living.

With a CA$42,000 income, you'd have the freedom to save or invest some of your earnings, take care of your well-being, buy new clothes, and enjoy all types of entertainment. You could also take some vacations.

For a family of four to live comfortably in the city, a combined household income of around CA$80,000 per year (or more) would be ideal.