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edm13 said:
Just a quick note, 24% is likely the marginal tax rate for a minimum wage earner. I’d guess the average tax rate for them is somewhere between 10-15%. Then you also qualify for pretty well every benefit out there (gst cheques, child tax benefits, etc). Someone in this position, should be able to live decently with a room mate in a 2 bedroom apartment
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I checked the tax brackets that this person would fall into at both the provincial and federal level and it was 24%, I'm not sure if there are any caveats to that, though as you mention there probably are. You're also right that this person probably has access to a lot of tax benefits.

This doesn't change the fact that they're still living paycheck to paycheck, with very little if any hope of upward social mobility. Any increase in rent could still put this person on the brink of become homeless or even over the edge or having to make choices between eating and paying rent.

It is admittedly an extreme case as I said, but there's a reason there's been such a big increase in the amount of homeless folks in recent years. A massive part of that is that a lot of people simply can't afford any type of housing, even in a relatively affordable city like Edmonton.
 
edm13 said:
Well if you’re only making $15,000 per year, then you’re basically working 20 hours a week at minimum wage. If that’s the path someone is choosing (assuming they are able bodied), then you get what you get. I wanted to make some extra cash last winter. I handed out flyers in my neighbourhood (places within walking distance) I had 3 homes, was able to make $500 extra per month. Point is, at full time minimum wage, you effectively pay no tax (when you factor in all the other benefits you qualify for). In Edmonton, you can make it with a room mate, if you’re half decent with your money. I have a rental home with a top floor and bottom floor suite. The bottom floor rents for $900 + $250 utilities. It’s over 1,000 square feet with two bedrooms. Again, assuming you are able to work, you can make this work. Finally, any one who works at a place for any amount of reasonable time, would likely earn some pay raises. This is true for even a lot of highschool kids, a few I know make $17-18 per hour. This would add another few hundred per month
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You might not "choose" to have a disability, illness or health condition that limits how much you can work or the jobs available to you, or you may be a caregiver to someone so can only work part time. So lets not make the assumption this is always a choice. And actually 20 hours at minimum wage would still fall short of 15,000 because even without tax you would still have CPP and EI deducted.

In any event, I used 15,000 because this is close to the point you start paying Federal tax. If it doesn't make sense having to pay tax, but not have enough to pay rent in what is still one of Canada's more affordable major cities, then you understand the point.
 
Wow.

That all said, many people in Edmonton can afford $2500-3500 a month if they so choose and some prefer location over size or car and so $2500-3500 a small top of market 2 bdrm connected to LRT, a grocery, potentially their office and near Oilers might be bang on for some, even if upwards of 50% of income.
 
Not sure if I would call this conversation "Edmonton Real Estate" related.

Priority Growth Area Rezoning — The City of Edmonton is proactively rezoning select sites within three parts of the city that have been identified as having the greatest potential for development and density. Administration has created a refined list of sites proposed for rezoning, based on past public feedback, which can be viewed on an interactive map. Drop-in engagement sessions for the 156 Street NW and Stony Plain Road NW Corridors, the Wîhkwêntôwin (Oliver) and 124 Street NW Corridor, and the University-Garneau Node are set for Nov. 7, Nov. 12, and Nov. 13 respectively, while digital engagement opportunities for all zones are open until Nov. 24.
 
https://wolfstreet.com/2024/11/15/t...ancouver-calgary-condo-prices-hit-3-year-low/
7FDD2465-08DB-45D2-B24C-A6BA331259C1.jpeg
 
Spoke to a realtor two nights ago... formerly 30-40% of her business were condos, now 10-15% with many 'potential clients' citing affordability of SFHs, Downtown safety and condo fees.
 
IanO said:
Spoke to a realtor two nights ago... formerly 30-40% of her business were condos, now 10-15% with many 'potential clients' citing affordability of SFHs, Downtown safety and condo fees.
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I was in the market for a DT condo this fall and chose to rent instead because of rental affordability. The same unit I'm living in would cost nearly twice as much, not to mention the massive opportunity cost of owning real estate.
 
Offworld said:
To be kept in mind is that the cities noted in the table are not metro areas.

My primary takeaway from this table is Edmonton's relatively high proportion of single family dwellings.
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I think more single family homes are being built in Edmonton than any other major city in Canada - and certainly the highest# of SFH as a percentage of our overall housing.
 
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Offworld said:
To be kept in mind is that the cities noted in the table are not metro areas.

My primary takeaway from this table is Edmonton's relatively high proportion of single family dwellings.
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Yes, not too far off from the similar sized cities of Calgary and Ottawa, but no great mystery - SFHs are cheaper than and/or disposable incomes are higher here than the other cities in the chart.
 
I'm also guessing secondary suites, rowhomes and garage suites are considered ground rather than apartment starts too? It's not just SFH's that are zooming through the roof here.
 
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