Alberta has been witnessing a significant population boom, with many cities experiencing rapid growth. While Calgary and Edmonton remain the province’s largest urban hubs, several smaller cities have seen remarkable expansion due to economic opportunities, affordable housing, and a high quality of life. At the same time, some major cities have experienced moderate or minimal growth, and a few have even seen slight population declines. This growth trend presents unique opportunities for homebuyers and real estate investors looking to capitalize on Alberta’s dynamic housing market.
Major Cities: Steady Growth and Stability
Calgary: Steady Expansion
As Alberta’s largest city, Calgary’s population reached approximately 1,506,479 in 2024, up from 1,470,148 in 2023. This represents a growth rate of about 2.47%. While not as rapid as some smaller cities, Calgary’s consistent expansion underscores its enduring appeal as an economic and cultural hub, making it an excellent location for homebuyers and investors seeking long-term value.
Edmonton: Consistent Growth
Edmonton, the provincial capital, saw its population increase to around 1,163,271 in 2024 from 1,131,566 in 2023, marking a growth rate of approximately 2.8%. This steady rise reflects Edmonton’s role as a center for government, education, and industry, creating ample opportunities for real estate growth and investment.
Red Deer: Moderate Increase
Red Deer experienced a population growth from 116,041 in 2023 to 118,463 in 2024, indicating a 2.09% increase. As a central Alberta hub, Red Deer’s moderate growth makes it a viable option for homebuyers looking for affordability and accessibility.
Lethbridge: Steady Rise
Lethbridge’s population grew from 107,358 in 2023 to 109,628 in 2024, a growth rate of about 2.11%. This steady increase highlights the city’s expanding educational institutions and agricultural industries, making it an appealing destination for families and first-time homebuyers.
Grande Prairie: Consistent Development
Grande Prairie saw its population rise from 75,414 in 2023 to 77,348 in 2024, reflecting a growth rate of approximately 2.56%. As a northern economic center, the city offers affordable housing options and a growing market for property investors.
Medicine Hat: Modest Growth
Medicine Hat’s population increased from 68,116 in 2023 to 68,839 in 2024, a modest growth rate of about 1.06%. The city’s affordability and stable economic conditions make it an attractive market for homebuyers looking for long-term stability.
St. Albert: Incremental Increase
St. Albert experienced a population growth from 71,830 in 2023 to 72,769 in 2024, marking a 1.31% increase. This incremental growth reflects its status as a desirable suburban community near Edmonton, ideal for families looking for a balance between city access and peaceful living.
Fastest-Growing Cities in Alberta
1. Cochrane: A Suburban Haven
Cochrane has experienced an impressive annual growth rate, making it an attractive location for commuters looking for suburban living with easy access to urban amenities. Homebuyers seeking a mix of small-town charm and real estate appreciation are increasingly looking at Cochrane.
2. Airdrie: The Expanding Commuter City
Located just north of Calgary, Airdrie continues to grow at a steady pace. Its affordability, excellent infrastructure, and strong local businesses make it a prime choice for families and professionals alike.
3. Chestermere: Lakeside Living
With a scenic lakeside setting, Chestermere offers a unique lifestyle that attracts many new residents. Recreational opportunities, new developments, and proximity to Calgary contribute to its rapid growth, making it a desirable location for waterfront properties.
4. Beaumont: A Blend of Culture and Modernity
Beaumont is known for its rich French heritage and tight-knit community. The city’s growth is fueled by its strategic location near Edmonton, making it an appealing choice for those seeking a balance between city access and suburban life.
5. Spruce Grove: A Thriving Residential Hub
Located west of Edmonton, Spruce Grove has witnessed rapid expansion due to its strong job market, affordable housing, and high-quality recreational facilities, attracting families and young professionals.
6. Leduc: An Economic Powerhouse
With a diverse economy rooted in oil, gas, and transportation, Leduc continues to attract new businesses and residents. Its proximity to Edmonton International Airport further boosts its economic prospects, making it a great option for property investment.
7. Fort Saskatchewan: A Growing Industrial City
Fort Saskatchewan’s economy is driven by its thriving petrochemical and industrial sectors. With well-planned residential developments, it remains a key city to watch for those looking to invest in real estate.
8. Okotoks: Sustainable Growth
Okotoks has long focused on sustainable growth, making it one of Alberta’s most environmentally friendly cities. It continues to expand due to its high quality of life and business-friendly environment, drawing in homebuyers who value sustainability.
9. Sylvan Lake: A Tourism-Driven Boom
Sylvan Lake is one of Alberta’s most popular vacation destinations, and its year-round population continues to grow as more people choose to settle in the scenic lakeside town, offering excellent opportunities for rental properties and vacation homes.
What’s Driving the Growth?
The population boom in Alberta’s cities can be attributed to several factors:
- Economic Opportunities: Industries like energy, agriculture, technology, and manufacturing provide a strong employment base, attracting new residents.
- Affordable Housing: Compared to other provinces, Alberta’s real estate market remains relatively affordable, making it a prime destination for homebuyers.
- Quality of Life: The combination of natural beauty, recreational spaces, and strong communities makes Alberta attractive to newcomers.
- Proximity to Major Cities: Many of these growing cities are located near Edmonton or Calgary, offering the best of both worlds for families and professionals.
As Alberta’s housing market continues to evolve, homebuyers looking for opportunities in these fast-growing cities can benefit from expert guidance. MrHomeBuyer.ca provides insights and support for those seeking to navigate Alberta’s dynamic real estate landscape.
Final Thoughts
Alberta’s cities are evolving rapidly, with some experiencing explosive growth while others maintain steady expansion or even slight declines. For homebuyers and real estate investors, these trends present significant opportunities. Cities like Cochrane, Airdrie, and Chestermere are growing rapidly, while major hubs like Calgary and Edmonton remain vital economic and cultural centers. Understanding these trends is crucial for making informed real estate decisions. Whether through booming industries, suburban appeal, or strategic location, Alberta’s cities are poised for a dynamic future.
Population data referenced from World Population Review.