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Edmonton is Canada's most affordable major city, with an average home price of $454,800 as of February 2026 — the lowest among Canada's six largest metros. Like all of Alberta, Edmonton has no provincial land transfer tax, keeping closing costs minimal. Best 5-year fixed insured mortgage rates in Edmonton follow the national market: 4.39% fixed and 3.60% variable as of November 9, 2026. Edmonton's market is driven by affordability and strong energy-sector employment, with average prices up approximately 1.2% year-over-year in February 2026.
Alberta (AB): no provincial land transfer tax. Defaults ~$454,800 / 20% down; title fees are closing costs, not in payment results.
20.0% of home price
| Down | Down payment | CMHC | Monthly |
|---|---|---|---|
| 5% | $22,740 | $17,282 | $2,486.99 |
| 10% | $45,480 | $12,689 | $2,335.71 |
| 20% | $90,960 | — | $2,013.76 |
| 25% | $113,700 | — | $1,887.90 |
Canadian mortgages use nominal rates compounded semi-annually (converted to an effective annual rate, then to your payment frequency). Chart shows cumulative principal and interest paid each year; ending balance trends down toward zero.
Total interest paid
$240,287
Total amount paid
$604,127
Principal + interest on the loan
Interest vs purchase price
53%
of home price goes to interest (illustrative)
Same loan amount, rate, and amortization as above. Semi-monthly and bi-weekly match your monthly cash flow; accelerated bi-weekly uses half the monthly payment every two weeks (13 monthly equivalents per year).
| Frequency | Payment amount | Total interest | Payoff time | Savings vs monthly |
|---|---|---|---|---|
| Monthly | $2,013.76 | $240,287 | 25 years | — |
| Semi-monthly | $1,006.88 | $239,260 | 24 years 11 months | $1,027 |
| Bi-weekly | $929.43 | $239,181 | 25 years | $1,106 |
| Accelerated bi-weeklyRecommended | $1,006.88 | $203,846 | 21 years 8 months | $36,441 |
Savings vs monthly shown on wider screens.
| Year | Average Price | Change YoY |
|---|---|---|
| 2024 | ~$435,000 | +3.1% |
| 2025 | ~$449,000 | +3.2% |
| Feb 2026 | $454,800 | +1.2% |
Alberta has no provincial land transfer tax. Edmonton buyers pay only land title transfer fees — typically $200–$500 depending on property value. This saves buyers $5,000–$8,000 compared to Ontario or BC purchases of similar value. No rebate program is needed because no tax applies in the first place.
| Home Price | Minimum Down Payment | CMHC Insurance Required |
|---|---|---|
| Up to $500,000 | 5% (e.g. $22,740 on $454,800) | Yes |
| $500,001–$999,999 | 5% on first $500K + 10% on remainder | Yes |
| $1,000,000+ | 20% | No |
At Edmonton's average price of $454,800 with 5% down ($22,740), your insured mortgage is $432,060 plus CMHC premium (~$17,282), totalling approximately $449,342. At an example qualifying rate of 5.99% (a 3.99% contract rate + 2%), you need annual income of approximately $85,000–$95,000 to pass the stress test — significantly lower than Toronto, Vancouver, or Calgary.
The average home price in Edmonton is approximately $454,800 as of February 2026, up 1.2% year-over-year. Edmonton is Canada's most affordable major city, with single-detached homes averaging around $520,000 and condos around $210,000.
No. Alberta has no provincial land transfer tax. Edmonton buyers pay only a small land title transfer fee of approximately $200–$500. This makes Alberta one of the most cost-effective provinces for closing costs in Canada.
Best 5-year fixed insured mortgage rates in Edmonton follow the national market: 4.39% fixed and 3.60% variable as of November 9, 2026.
To afford Edmonton's average home of $454,800 with 5% down and an example 5-year fixed rate of 3.99%, you need approximately $85,000–$95,000 in gross annual income to pass the mortgage stress test. Edmonton is one of the most income-accessible major markets in Canada.
For Edmonton's average home of $454,800, the minimum down payment is 5% — approximately $22,740. Since the price is under $500,000, the full 5% rule applies. Homes between $500,000 and $999,999 require 5% on the first $500K and 10% on the remainder.
Edmonton's 2026 effective residential property tax rate is approximately 0.8–1.0% of assessed value. City council approved a 6.9% property tax increase for 2026. On a $454,800 home, annual property taxes are approximately $3,600–$4,500.
Educational estimates only. Not a lender pre-approval.