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Edmonton affordability better than Canadian average – REALTOR® President #yeg #yegre

There are so many reasons why Edmonton is a great place to live; now your bank account is giving you another! A recent RBC study shows that home buyers in Edmonton face one of the most affordable markets in Canada. The housing affordability index for Edmonton was listed at 32.4% of a typical household income. That’s the amount of income that a home buyer has available for purchasing a home, based on what they can afford to pay each month. According to the study, prices in Edmonton are at a point where buyers can expect to devote about a third of their monthly income to their housing, right around that point that many financial planners consider ideal. In other parts of the country, higher housing prices drive that index number up.

Affordability index    – Edmonton = 32.4%

– Toronto = 53.4%

– Vancouver = 88.9%

While those are the two largest centres, Edmonton is bucking the overall national trend, with affordable homes. One more great reason for your life to happen in Edmonton. If you want to take advantage of Edmonton’s affordable housing market, talk to your local REALTOR® –here when life happens.

 

http://raeinfo.posterous.com/edmonton-affordability-better-than-canadian-a

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