Strathmore Real Estate Ranked 9th in Alberta
In November 2018, Zoocasa reported on the affordability of the Alberta market ranked from least to most affordable cities to live in based on median income and average home prices. Looking at home price averages from October 2018 across Alberta, the Strathmore real estate market was placed as the 9th most expensive city or town out of 25. This report is based on a 20% down payment, a mortgage rate of 3.33%, and a 30 year amortization.
Let’s dive into what these numbers look like across Alberta.
What does this mean for Strathmore?
Strathmore real estate is ranked 9th in this report, where the average home price is $297,465, the required income to purchase a home of this price is $40,577, the median income of the town of Strathmore is $88,633, therefore there is a $48,056 difference of between the actual income and the required income to purchase Strathmore real estate.
Loreck Homes In Strathmore
After building in Strathmore for many years, we have been plenty of ups and downs in the Strathmore real estate market but one thing always remains – its friendly community. We have several homes for sale in Strathmore that are looking for its new owners. We invite you to take a look at our homes for sale and explore the community of Strathmore!
Strathmore’s affordable real estate makes it a great alternative to living closer or even further from the city of Calgary. Its wide open spaces and community enhancement plans for the future are going to steadily increase the value of this community. Get in on this hidden gem while it’s still affordable!