Top 5 Cheapest places to live in Alberta with the Best quality of life – 2024

• Average 1-bed apt rent: $1,160
• Average property buying cost: $334,075

Our top pick for the cheapest places to live in Alberta is Grande Prairie, offering a combination of convenience and tranquility. Located in the northwest of Alberta, Grande Prairie boasts the largest commercial center north of Edmonton.

Noted by many locals, Grande Prairie features the Eastlink Center, providing facilities for the gym, a pool, and childcare drop-off. You can also expect to find several peaceful parks with stunning views, such as Muskoseepi Park and Crystal Lake Park, which promote outdoor recreation and family-friendly activities.

As of October 2023, the average home price is $334 075, while the average rent for a 1-bedroom apartment is $1,160, making it one of the cheapest places to live in Alberta.

City of Grande Prairie (Dec 2023), Zumper (Dec 2023) & CREA (Oct 2023)

• Average 1-bed apt rent: $1,055
• Average property buying cost: $352,000

Medicine Hat is located in the south of Alberta, along the South Saskatchewan River. The city is about 169 km east of Lethbridge and 295 km southeast of Calgary. Locals take pleasure in participating in outdoor activities and being surrounded by wildlife in Medicine Hat. Medicine Hat is often known as the retirement community, where relaxation is frequently enjoyed.

After a week’s work, locals love to wind down at their local breweries known as Travois Ale Works, Medicine Hat Brewing Company, or Hell’s Basement Brewing. There are also local coffee shops for a midday pick-me-up, such as Madhatter Coffee Roastery. If you enjoy fishing, Medicine Hat would be the perfect place for you as the South Saskatchewan River flows right through the town.

As of October 2023, the average property buying cost is $352,000, while the average rent for a 1-bedroom apartment is $1,055.

City of Medicine Hat (Dec 2023), Zumper (Dec 2023) & CREA (Oct 2023)

• Average 1-bed apt rent: $1,180
• Average property buying cost: $342,021

Lethbridge is a city located just outside of Calgary. In addition to offering affordable housing, its amenities include the University of Lethbridge, which is a 10-minute drive from Downtown Lethbridge. Locals appreciate the green spaces provided throughout the city, such as Botterill Bottom Park and Peenaquim Park, where multiple hiking trails can be found.

Lethbridge is the perfect blend of city and suburban life, thanks to the City Centre where you can find an assortment of restaurants, shopping malls, local businesses, and parks. Residents not only love the peaceful atmosphere of the city but also appreciate its proximity to the United States border—accessible by car, it is just 100 km away!

As of October 2023, the average rent for a 1-bedroom apartment is $1180 and the average cost of buying a property is $342,021.

Zumper (Dec 2023) & CREA (Oct 2023)

• Average 1-bed apt rent: $1,095
• Average property buying cost: $395, 482

Red Deer is located about halfway between Calgary and Edmonton. One of the major amenities in Red Deer is its access to public transportation throughout the city, known as Red Deer Transit. Locals suggest Red Deer for families rather than single individuals looking to move due to its secluded location.

If you enjoy hunting and fishing in your pastime, Red Deer is known for its trails and shooting ranges, including the Red Deer Shooting Centre. As noted by residents, Red Deer has a smaller-town feel filled with family-friendly amenities.

As of October 2023, the average rent for a 1-bedroom apartment is $1,095 and the average cost of buying a property is $395,482.

City of Red Deer (Dec 2023), Zumper (Dec 2023) & CREA (Oct 2023)

• Average 1-bed apt rent: $980
• Average property buying cost: $249,853

Lloydminster is located directly on the border of the provinces of Saskatchewan and Alberta. Equipped with its own airport known as the Lloydminster Municipal Airport, the city offers its residents close shopping in Edmonton, which is a two-hour drive, or in Saskatoon, which is a three-hour drive.

It has been noted by locals that there are not many entertainment options in Lloydminster, but this is what adds to its beauty as you are surrounded by nature. There are plenty of outdoor summer activities for children to enjoy at Kinsmen Participark, and for adults, the city has its own golf course, the Lloydminster Golf and Curling Centre.

As of October 2023, the average rent for a 1-bedroom apartment is $980 and the average cost of buying a property is $249,853.

Zumper (Dec 2023) & CREA (Oct 2023)