Cost of life for renters in Edmonton
With Edmonton as a top economic performer in Canada, many people come to live and rent in Edmonton to get a good job and set themselves up financially.
It’s a smart move, considering residents of Edmonton enjoy the highest average household income in Canada, an affordable cost of living, and lower taxes (no provincial sales tax!).
If you have your own car, your wallet will also notice the difference, as Edmonton has the lowest gas prices in the country.
Having said that, the influx of so many workers means a low vacancy rate for tenants looking to rent an apartment in Edmonton, which has pushed home rental prices up, especially in the coveted areas near the University and the southwest and around Leduc and West Jasper Place.
Based on 2012 figures, you can expect an average monthly rate of $965 to rent your apartment in Edmonton, a few hundred more for a two-bedroom apartment. Prices differ according to areas, of course, and whether it is furnished or whether utilities are included. You’ll also have to budget for rentalinsurance.
Starting off your professional life? Why not think about sharing your home with a roommate to share the bills?
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