Cost of Living
Lethbridge residents enjoy a higher quality of life and a lower cost of living.
Low housing prices and affordable consumer goods and services all contribute to the cost advantages of Lethbridge. We consistently achieve high rankings in cost-of-living and quality-of-life studies. Consider these facts:
- By living in Alberta, you won’t be burdened by a provincial sales tax. This means paying at least 7% less for goods and services compared to other Canadian provinces and most U.S. states.
- Alberta’s tax advantage comes from a low single-rate tax system, coupled with the highest basic and spousal exemptions in Canada.
- Lower transportation costs are a result of short commute times (get to work in 10 to 15 minutes), complimented by reasonably priced parking. Plus, Alberta has the lowest gasoline tax among the provinces.
| Comparison of Annual Average Property Tax & Utility Cost in Alberta |
|
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| Cost of Living Comparative Analysis |
|
| Cost of Living Comparative Analysis |
| |
Lethbridge |
Calgary |
Edmonton |
Red Deer |
Grande Prairie |
Medicine Hat |
| Federal Income Tax (Includes CPP & EI) |
$8,796 |
$8,796 |
$8,796 |
$8,796 |
$8,796 |
$8,796 |
| Provincial Income Tax |
$2,635 |
$2,635 |
$2,635 |
$2,635 |
$2,635 |
$2,635 |
| Health Premiums |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
| Gasoline Tax * |
$180 |
$180 |
$180 |
$180 |
$180 |
$180 |
| Total Federal & Provincial Taxes |
$11,611 |
$11,611 |
$11,611 |
$11,611 |
$11,611 |
$11,611 |
| Mortgage Costs ** |
$20,826 |
$35,256 |
$34,963 |
$25,854 |
$23,264 |
$22,380 |
| Property Tax & Utility Charges (Average) |
$4,237 |
$4,111 |
$4,455 |
$4,166 |
$5,139 |
$3,553 |
| Consumer Goods *** |
$6,660 |
$7,330 |
$7,200 |
$6,948 |
$7,171 |
$6,718 |
| Parking **** |
$708 |
$5,563 |
$6,250 |
$1,958 |
$1,250 |
$624 |
| Total Household Charges |
$33,161 |
$52,259 |
$52,868 |
$38,926 |
$36,824 |
$33,275 |
| Net Disposable Income |
$15,228 |
-$3,870 |
-$4,479 |
$9,463 |
$11,565 |
$15,114 |
| Federal Income Tax (Includes CPP & EI) |
$11,796 |
$11,796 |
$11,796 |
$11,796 |
$11,796 |
$11,796 |
| Provincial Income Tax |
$4,635 |
$4,635 |
$4,635 |
$4,635 |
$4,635 |
$4,635 |
| Health Premiums |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
| Gasoline Tax * |
$180 |
$180 |
$180 |
$180 |
$180 |
$180 |
| Total Federal & Provincial Taxes |
$16,611 |
$16,611 |
$16,611 |
$16,611 |
$16,611 |
$16,611 |
| Mortgage Costs ** |
$20,826 |
$35,256 |
$34,963 |
$25,854 |
$23,264 |
$22,380 |
| Property Tax & Utility Charges (Average) |
$4,237 |
$4,111 |
$4,455 |
$4,166 |
$5,139 |
$3,553 |
| Consumer Goods *** |
$6,660 |
$7,330 |
$7,200 |
$6,948 |
$7,171 |
$6,718 |
| Parking **** |
$708 |
$5,563 |
$6,250 |
$1,958 |
$1,250 |
$624 |
| Total Household Charges |
$33,161 |
$52,259 |
$52,868 |
$38,926 |
$36,824 |
$33,275 |
| Net Disposable Income |
$30,228 |
$11,130 |
$10,521 |
$24,463 |
$26,565 |
$30,114 |
| Federal Income Tax (Includes CPP & EI) |
$20,342 |
$20,342 |
$20,342 |
$20,342 |
$20,342 |
$20,342 |
| Provincial Income Tax |
$6,635 |
$6,635 |
$6,635 |
$6,635 |
$6,635 |
$6,635 |
| Health Premiums |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
| Gasoline Tax * |
$180 |
$180 |
$180 |
$180 |
$180 |
$180 |
| Total Federal & Provincial Taxes |
$27,157 |
$27,157 |
$27,157 |
$27,157 |
$27,157 |
$27,157 |
| Mortgage Costs ** |
$20,826 |
$35,256 |
$34,963 |
$25,854 |
$23,264 |
$22,380 |
| Property Tax & Utility Charges (Average) |
$4,237 |
$4,111 |
$4,455 |
$4,166 |
$5,139 |
$3,553 |
| Consumer Goods *** |
$6,660 |
$7,330 |
$7,200 |
$6,948 |
$7,171 |
$6,718 |
| Parking **** |
$708 |
$5,563 |
$6,250 |
$1,958 |
$1,250 |
$624 |
| Total Household Charges |
$33,161 |
$52,259 |
$52,868 |
$38,926 |
$36,824 |
$33,275 |
| Net Disposable Income |
$39,682 |
$20,584 |
$19,975 |
$33,917 |
$36,019 |
$39,568 |
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| * |
Based on annual purchases of $2,000. |
| ** |
Based on the average price of a new home with annual mortgage payments based on a 10% down payment, 5.25% interest with 25 years amortization, monthly payments and 5 year closed mortgage.
|
| *** |
Based on purchases of $600 per month using AED cost indices.
|
| **** |
Based on the most cost effective average daily parking rate utilizing city-issued parking permits or daily parking meters, based on 10 hours a day for 50 weeks of the year.
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| I. |
Data is current as of January 2010.
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| II. |
The city of Wood Buffalo, (previously reported as Fort McMurray), was not included in this annual comparison due to the unavailability of new home prices and property tax and utility rates in current source publications and survey reports.
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| III. |
Although every effort was made in good faith to ensure the accuracy of the information contained herein, Economic Development Lethbridge accepts no warranty, nor accepts liability, for any incorrect, incomplete or misleading information or its improper use.
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| IV. |
This report is updated annually. |
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Sources:
Canadian Mortgage and Housing Corporation, 2007 Alberta Spatial Price Survey, 2009 Residential Property Taxes and Utility Charges Survey - The City of Edmonton, TD Mortgage Calculator, City of Medicine Hat, City of Calgary, City of Lethbridge, City of Grande Prairie, City of Red Deer, City of Edmonton.
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| All-Commodity Price Comparison |
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For further details about individual items within this commodities price comparison,
contact Heather McIntosh-Rivera at 403-331-0022 ext. 109 or heather@chooselethbridge.ca.
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