Yes, you can still buy a home in Alberta for under $350,000 🏡
While prices across much of Canada remain out of reach, Alberta continues to offer some of the country’s most affordable housing options. According to the latest WOWA housing report, provincial inventory is up 17% year-over-year, giving buyers more choice and cooling price pressure.
That means 2025 is one of the best years in recent memory to snag a deal, especially if you know where to look.
📉 Quick Market Overview
- Average Alberta home price (Sept 2025): ~$471,000
- Sales: 6,099 (down 5.6% YoY)
- New listings: up 7% YoY
- Inventory: up 17% YoY
📊 Source: WOWA Housing Market Report – Alberta
Translation: Prices are steady, but sellers outnumber buyers, and that means opportunity.
🏡 1. Red Deer
Average home price: ~$344,000
Red Deer is Alberta’s affordability sweet spot, halfway between Edmonton and Calgary, offering big-city access without big-city prices.
You’ll find detached homes under $350K, often with garages and backyards, perfect for first-time buyers or families looking for value.
✅ Why it’s cheap: Local inventory has risen faster than demand, keeping prices stable even as other mid-sized cities climb.
🌇 2. Medicine Hat
Average home price: ~$335,000
With small-town charm and mild southern Alberta weather, Medicine Hat consistently ranks among Canada’s most affordable urban markets.
Expect move-in-ready detached homes, some with finished basements, for under $350K.
It’s also known for low property taxes and strong community amenities.
✅ Why it’s cheap: Slower population growth and plenty of land for development keep supply high and prices modest.
🏞️ 3. Lethbridge
Average home price: ~$357,000
Lethbridge has a growing university scene, steady job market, and solid infrastructure. Homes under $350K are still common in suburbs like West Lethbridge and Northside.
✅ Why it’s cheap: New construction keeps inventory balanced, preventing bidding wars seen in other Alberta cities.
🏘️ 4. Wetaskiwin
Average home price: ~$289,000
Located about an hour south of Edmonton, Wetaskiwin offers true small-town affordability. Detached homes here often sell between $260K–$320K.
✅ Why it’s cheap: Modest population growth and high resale inventory have kept prices low, even during Alberta’s housing booms.
🛠️ 5. Grande Prairie
Average home price: ~$355,000
Grande Prairie sits in Alberta’s resource-rich northwest and offers strong local employment with surprisingly affordable real estate.
✅ Why it’s cheap: Remote location and steady new construction push prices down compared to Calgary and Edmonton.
🌾 6. Brooks
Average home price: ~$310,000
Brooks offers some of Alberta’s lowest housing costs alongside a tight-knit community and growing local economy.
✅ Why it’s cheap: Smaller size, stable population, and affordable land mean less price competition.
🚤 7. Cold Lake
Average home price: ~$317,000
Cold Lake delivers lakeside living without the premium price tag. The real estate mix includes detached homes and townhouses under $350K , ideal for first-time buyers or military families.
✅ Why it’s cheap: Moderate demand, rural setting, and energy-sector cycles keep housing prices in check.
💡 Final Thoughts
Alberta remains one of Canada’s last frontiers for real affordability.
With inventory climbing 17% year-over-year, buyers finally have the leverage they lacked in 2022–2023.
If you’ve got $350,000 or less to spend, you still have options, and in Alberta, that might mean a detached home with a yard instead of a cramped condo.
So before you assume homeownership is out of reach, check the Alberta listings, because you can still buy big here for small-city prices.
Canada Housing Market 
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