Saskatoon Housing More Expensive Than Edmonton

Posted on Tuesday 15 November 2011

The “average home price” in Saskatoon exceeded $330,000 in October 2011.  This is above the average home price in Edmonton and nearly $50,000 more than the average home price in Regina, both with higher average weekly wages than Saskatoon.  Winnipeg housing is far cheaper, around $90,000 cheaper, though wages there are less on average than Saskatoon.  The actual average house price in Saskatoon would be even higher, as “home” includes condos, trailers, half-duplexes etc.

Interesting that Saskatoon now exceeds Edmonton in housing costs.  This suggests that Saskatoon housing is seriously unaffordable, as it is more expensive than nearby large centers.  Both with higher average wages than Saskatoon.  Edmonton’s average weekly wage and annual median family income far exceed Saskatoon’s.  As well, Edmonton has cheaper gas and charges substantially lower personal income tax, and no provincial sales tax.  Really, a move to Edmonton would afford the average Saskatoon resident a raise, a chance to afford a nicer (any) house over Saskatoon and an improved standard of living.

With more and more evidence showing that Saskatoon housing prices are out of control, and that young professionals and those with mobile established career can live in a nicer house, or better area elsewhere, one has to ask, how long can Saskatoon house prices remain so high?  And will this impair the city’s ability to attract workers, who can make more, and live for less elsewhere?

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