Over the last few years, Alberta has quietly become one of the most appealing places in the country for people looking for more affordability, more space, and a lifestyle that feels easier to manage. The data confirms it. Statistics Canada reported that Alberta gained more than 184,000 new residents in 2023 alone through interprovincial and international migration. That is the largest annual population increase in the province’s history.

For many families, couples, and remote workers, the move is not just about cost. It is about stability, opportunity, and the simple fact that Alberta offers a way of living that is starting to feel out of reach in other major regions of Canada.

At Merge Mortgage Group, we see the impact of this shift every day. Here is a closer look at why so many Canadians are choosing Alberta and what new residents should know before they start their home search.

Affordability: Alberta’s Biggest Advantage

Housing affordability is one of the most common reasons people move. The difference is significant.

• The average detached home in Calgary was roughly 697,000 dollars in early 2024.
• In the Greater Toronto Area, the average detached home was more than 1.4 million dollars.
• Vancouver continues to sit above 1.8 million dollars for the same property type.

Even Alberta’s higher priced markets allow buyers to stretch their budget further. This gap has widened over the last decade as Ontario and BC prices climbed faster than income growth.

Renters feel the difference too. While rent increases have hit every province, Alberta’s average rent still sits noticeably below major eastern and coastal cities. This gives newcomers options they cannot find elsewhere.

A Growing Job Market and a Shifting Economy

Alberta’s job market has also changed in meaningful ways. While the energy sector is still important, diversification has been gaining momentum. The province has seen growth in:

• technology and innovation
• logistics and transportation
• agriculture and food production
• film and digital media
• financial services

Calgary and Edmonton have both attracted new tech companies, and the number of remote workers moving to Alberta has grown steadily. Workers who keep their Ontario or BC salary while paying Alberta living costs often find that their financial life improves almost immediately.

Alberta’s unemployment rate has been trending close to the national average, and wages remain competitive. This balance is a key reason families feel more confident about planting roots here.

Lifestyle: The Factor Most People Underestimate

People come for affordability, but they stay for lifestyle. Alberta’s cities offer a mix of culture, food, and outdoor access that is hard to match. Calgary and Edmonton both rank among Canada’s top cities for quality of life, and Alberta has some of the country’s best access to nature.

When surveyed, new residents often mention:

• shorter commute times
• lower population density
• easier access to parks and recreation
• more family friendly neighbourhoods
• a sense of community that feels grounded and approachable

These benefits matter just as much as the financial side.

Housing Choice: More Variety Without Extreme Competition

Alberta’s real estate market is active, but the level of competition feels different from places where bidding wars are still common. While Calgary’s market has become more competitive in some price ranges, buyers still find more flexibility overall.

New residents often appreciate:

• larger homes for the same budget
• newer builds with modern layouts
• more multi generational options
• more townhomes and duplexes in growing communities
• neighbourhoods with room to expand

The variety allows buyers to focus on what fits their lifestyle rather than settling for less space or less comfort.

What Newcomers Should Know About Mortgages in Alberta

Mortgage rules in Alberta follow national guidelines, but newcomers sometimes face a few extra considerations.

Employment Confirmation

If you are moving for a new job, lenders may ask for employment letters, contracts, or recent pay stubs to confirm stability.

Income from Other Provinces

Remote workers can often qualify using out of province income, but documentation must be clear.

Down Payment Sourcing

Gifted down payments are common, especially for families moving from higher priced markets. Lenders accept this, but they need transparent verification.

Property Tax Differences

Alberta does not have a provincial sales tax, which helps households keep more of their budget for housing and everyday expenses.

The process is straightforward, but a solid pre approval goes a long way toward helping newcomers shop with confidence.

Common Scenarios We See at Merge Mortgage Group

Families Selling in Ontario or BC and Upsizing in Alberta

>They often move into larger homes with smaller or similar payments.

Couples Starting Fresh With Remote Work

>Their income remains tied to another province while their expenses drop.

First Time Buyers Leaving Rent Pressure Behind

>They find ownership more achievable in Alberta than in their home province.

Retirees Looking for Comfort Without Heavy Costs

>Alberta’s cost of living allows fixed income households to stretch their budget further.

Key Takeaways

• Alberta is seeing record population growth driven by affordability and lifestyle.
• Housing costs are significantly lower compared to Ontario and BC.
• Alberta’s economy has diversified and continues to attract skilled workers.
• Buyers have more choice and less extreme competition.
• New residents benefit from planning ahead with a clear pre approval.

Talk With Merge Mortgage Group

Whether you are already planning your move or just exploring your options, a clear understanding of Alberta’s lending environment can make a real difference. Our team can help you understand what to expect and how to prepare so your transition feels smooth and informed.