How much do you need to earn to live comfortably in Edmonton?

Edmonton is an often-underrated city. However, the city has unique offerings such as the famous West Edmonton Mall and a bustling, progressive culture due to the city’s 8 universities, including the University of Alberta.

In general, the cost of living in Edmonton is more affordable compared to other big Canadian cities. Housing costs for both renters and buyers tend to be on the lower side, and finding quality accommodations within a reasonable price range is common. Other essentials like groceries, transportation and utilities are moderate.

Individual lifestyle choices can vary, and Edmonton's overall cost of living allows for more variety than larger cities.

To help you better understand the cost of living in Edmonton, we’ve put together a guide detailing the income needed to live comfortably.

How much will I need to pay for rent in Edmonton?

Edmonton offers affordable rental options in most neighbourhoods–just remember, most university cities have a race for accommodations in September, as students flock to the city to begin their school year. If you are planning a move or relocation in Edmonton, plan to move before September.

The median monthly cost to rent a 3-bedroom home in Edmonton is CA$1550. Of course, this rate will be on the higher end in the downtown core, and slightly lower in certain areas on the outskirts of the city. A newly-renovated, modern home will cost more than a simple one.

Pricier neighbourhoods include areas like Downtown, Garneau, and Strathcona, and their central location plays a big part in driving the rental costs up. More affordable rental options can be found in Mill Woods, Abbottsfield, and Calder.

Expect to pay CA$600-CA$750 per month on rent if you share your rental with a partner or roommates.

If you live with roommates or a partner you can rent comfortably for around CA$835 - CA$1,250 per person, per month.

Median monthly cost for rent: CA$1100

What if I have a mortgage?

If you qualify for a mortgage and are ready to take the leap into home ownership, some simple maths will provide you with an estimate of your monthly mortgage payments, assuming that you buy a home in Edmonton’s downtown area or nearby. In downtown Edmonton, the average cost for a home is around CA$300,000. With a 6.28% interest rate, your monthly mortgage repayment for a CA$300,000 home would be approximately CA$1,480.

For more affordable houses, outlying neighbourhoods like Abbotsfield have average home prices of CA$180,000. With a 6.28% interest rate, your monthly mortgage repayment for a CA$180,000 home would be approximately CA$1,180.

Average monthly mortgage payment if you are splitting it with a partner: CA$665.

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

The average cost of food per month to feed a family of four is CA$310. People that live alone pay around CA$120 per month. Couples can expect to pay CA$240 every month for food.

Monthly food cost for one person: CA$120

How much will my electricity and monthly bills be?

Alberta’s electricity rates reached an all-time high in 2023. Luckily, rates have stabilised and are much lower in 2024.

Edmonton’s average monthly cost for utilities (including gas and electricity) falls somewhere between CA$150 and CA$250, depending on factors such as the season, home size, and energy usage. Water, sewer and garbage services add another CA$80 to CA$120 per month.

Monthly utility bills: CA$230

READ: Exploring Life in Edmonton | A Vibrant and Growing City

What does it cost to get around in Edmonton?

This calculation will depend on your mode of transportation. The Arc pay-as-you-go transit pass has a monthly fare cap of CA$100. Gas is more affordable in Alberta than other Canadian provinces/territories, and vehicle owners spend about CA$80 per month on gas. Of course, this amount varies depending on what kind of car you drive and how often you use your car.

Edmonton is full of bike-friendly neighbourhoods, and many locals have embraced the cyclist lifestyle, weather permitting. Downtown has dedicated cycling lanes, as do many of the surrounding neighbourhoods. The Edmonton River Valley has over 160 km of multi-use paths for cyclists and e-bike riders to use freely.

Monthly cost for commuting: CA$90

How much does it cost to eat out in Edmonton?

Edmonton offers a variety of dining experiences from casual cafes, farm-to-table restaurants, and fine dining. International and fusion cuisines are popular, and food truck culture is continuing to grow.

Your food costs will vary depending on your tastes and the frequency at which you eat out. On average, a quick breakfast or a fast food meal will cost around CA$10 to CA$15. A meal at an inexpensive restaurant might cost around CA$15 to CA$20 per person. A three-course meal at a mid-range restaurant might cost CA$25 to CA$40 per person. Fine dining and specialty cuisine starts at CA$45+ per person.

If you regularly get fancy coffees in the morning or cocktails, beer or wine with your evening meal, expect to add on an extra CA$10 to CA$20 to your bill, depending on how much you drink.

Restaurant costs per month: CA$30 - CA$80.

What will I spend on entertainment while living in Edmonton?

Edmonton has a decent arts scene, and residents frequent theatres, galleries, live music venues and nightclubs for entertainment. The West Edmonton Mall is one of the largest malls in the world, and offers a lot more than just shopping. You can go there to enjoy the indoor amusement park, water park, ice rink and mini-golf course.

The North Saskatchewan River Valley is right on town and provides a huge area for hiking, biking and cross-country skiing. These activities cost much less than other types of entertainment.

Edmonton hosts a handful of festivals every year including the Edmonton International Fringe Theatre Festival and the Ice on Whyte Festival. Hockey is a big deal in Edmonton, and hockey games are a favourite entertainment pastime.

The monthly entertainment spending average depends on the activity. Edmonton residents can expect to pay anywhere from CA$150 - CA$300 per month on entertainment.

Monthly entertainment cost: CA$150

How much can I expect to spend on basics?

If you consider general living expenses like rent or mortgage, groceries, transportation, and basic entertainment, and keep your spending habits in check, only buying essentials, you can expect to spend around CA$1,450 to CA$2,000 per month as a single person living in Edmonton. For small families living frugally, the monthly expenses might be around CA$3,000.

To live modestly in Edmonton as a single person, you'll need to earn about CA$24,000 per year. This is a bit below what you would make earning the Alberta minimum wage or CA$15 per hour, working 35 hours per week, but with no time off. Keep in mind that this figure is before taxes, RRSP, and CPP deductions, and it doesn’t account for savings, vacations, or unexpected expenses like vehicle repairs.

The average Canadian spends around CA$4,000 annually on car-related expenses. To cover basic needs and own a car in Edmonton, you would need to earn around CA$34,000 per year.

If CA$34,000 covers the basics, how much do I need to earn to live comfortably?

To live comfortably as a single person in Ottawa, you'd need to earn around CA$50,000 per year (or more). This income would cover rent for an apartment in the city centre and assuming you are spending carefully, allow you to enjoy a comfortable lifestyle with a decent amount of leisure time.

A CA$50,000+ salary would allow you the option of saving or investing, spending on your personal well-being, keeping your wardrobe fresh, and enjoying regular entertainment. You'd also have the means to take vacations and not worry about heat bills in the winter.

For a family of four to live comfortably in Edmonton, a combined household income of about CA$100,000 would be sufficient.

How likely is earning CA$50,000 to CA$65,000 per year in Edmonton?

Edmonton, like much of Alberta, has a prominent energy sector, with oil and gas being the leading industries within the sector. There’s a lot of money in oil and gas, and these jobs pay WELL. The sector’s volatility continues to survive and thrive even with fluctuating oil prices.

The city continues to see solid growth and construction and development is booming, maintaining a steady demand for skilled tradespeople.

Healthcare professionals are always in demand, and education provides a large amount of employment opportunities thanks to the multiple universities in Edmonton. IT pros, developers and engineers can benefit from Edmonton’s tech sector.

Salaries in Edmonton are competitive, especially in high-demand industries, and the city's lower cost of living compared to pricey cities like Vancouver or Toronto allows residents some financial room to breathe. Earning a comfortable salary of CA$50,000 to CA$65,000 is absolutely attainable in Edmonton.