Edmonton’s top neighbourhoods

We’ve ranked neighbourhoods based on value, momentum and return on investment

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From the April 2016 issue of the magazine.

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Best deals in real estate 2016 edmonton neighbourhoods

Edmonton, Alberta (Henryk Sadura / Getty Images)

Strategically, the city of Edmonton planned its escape from oil-patch dependence more than half a decade ago. And it shows. Despite its reputation as the city that provides the bulk of blue collar workers to the province’s oil patch, the city weathered the drop in oil prices remarkably well. In fact, more than half of Edmonton’s neighbourhoods saw home values continue to rise last year, some as much as 42%.

That doesn’t mean the trouble in Canada’s resource sector didn’t leave a mark, with some of the city’s neighbourhoods experiencing a dramatic loss in value. For instance, homes in the southwest communities of Windermere Estates and Woodbend Estates dropped in value, on average, by 12% and 7%, respectively. Still, for families and workers committed to living and working in this gateway to the north, there are plenty of communities that continue to offer good value.

Based on our proprietary analysis, we’ve identified neighbourhoods that have experienced better price momentum and exhibit profit potential. Our top five neighbourhoods, in fact, had an average one-year return that was twice the city’s average, for the same time period. Yet the average price for these neighbourhoods was almost 12% lower than the city’s median home price. So, if you’re in the market to buy a home in Edmonton, consider our top 25 ranked neighbourhoods—communities that will weather the current economic storm and come out ahead in the long run.

Photo gallery: Top 25 Edmonton neighbourhoods to buy in »

Edmonton at a glance…

CITY TOP 25
Average Neighbourhood Price $427,196 $363,967
Min $270,992 $270,992
Max $832,181 $566,129
Below $500K 83% 88%
Average 1-Year Return 3% 6%
Average 5-Year Return 15% 21%
Average Realtor Grade (Out Of 5) ★★★ ★★★

Top 5 neighbourhoods

Realtors’ picks

Windermere Estates, Zone 56
Of the more than 200 neighbourhoods that we analyzed and ranked in Edmonton, Windermere Estates didn’t fare too well, coming in at No. 196. But there’s a reason why local realtors are optimistic about this community of new builds. Typically, the cost per square foot for a new home is quite a bit higher than resale homes, but the recent dip in oil prices has really eroded the premium builders can charge for these new houses. So, prices for homes in Windermere Estates dropped, on average, by 12% last year, falling from just over $607,000, on average, to just over $533,000. But this drop means there’s room for future appreciation and realtors expect prices to pick up in this southwest community when oil prices eventually start to recover.

Top 25 neighbourhoods

*NR=Not rated

  • Rank Neighbourhood Area Average price Value Average price vs. area Average price vs. metro district Average price vs. greater city area Momentum 1-year price change 5-year price change Realtor grade
    1 Newton AREA: ZONE 6 $288,164   77.0% 66.2% 66.2%   6.22% 20.8% ★★★
    2 McQueen AREA: ZONE 21 $349,060   88.2% 80.1% 80.1%   3.83% 16.5% ★★★½
    3 Montrose AREA: ZONE 6 $288,164   77.0% 66.2% 66.2%   6.22% 20.8% ★★
    4 Canora AREA: ZONE 21 $349,060   88.2% 80.1% 80.1%   3.83% 16.5% ★★★½
    5 Elmwood Park AREA: ZONE 5 $270,992   84.1% 62.2% 62.2%   6.92% 23.6% ★★
    6 Prince Charles AREA: ZONE 4 $326,068   82.4% 74.9% 74.9%   2.82% 14.5% ★★★
    7 Ekota AREA: ZONE 29 $357,693   86.5% 82.1% 82.1%   1.43% 14.2% ★★★½
    8 Greenview AREA: ZONE 29 $357,693   86.5% 82.1% 82.1%   1.43% 14.2% ★★★½
    9 Mayfield AREA: ZONE 21 $349,060   88.2% 80.1% 80.1%   3.83% 16.5% ★★★
    10 Hillview AREA: ZONE 29 $357,693   86.5% 82.1% 82.1%   1.43% 14.2% ★★★½
    11 Eastwood AREA: ZONE 5 $270,992   84.1% 62.2% 62.2%   6.92% 23.6% ★★
    12 Park Dale AREA: ZONE 5 $270,992   84.1% 62.2% 62.2%   6.92% 23.6% ★★
    13 Alberta Avenue AREA: ZONE 5 $270,992   84.1% 62.2% 62.2%   6.92% 23.6% ★★
    14 Delton AREA: ZONE 5 $270,992   84.1% 62.2% 62.2%   6.92% 23.6% ★½
    15 Weinlos AREA: ZONE 29 $357,693   86.5% 82.1% 82.1%   1.43% 14.2% ★★★
    16 Jasper Place AREA: ZONE 21 $349,060   88.2% 80.1% 80.1%   3.83% 16.5% ★★★
    17 Grovenor AREA: ZONE 21 $349,060   88.2% 80.1% 80.1%   3.83% 16.5% ★★★
    18 McCauley AREA: ZONE 13 $410,722   127.5% 94.3% 94.3%   34.94% 35.2% ★★★★
    19 Garneau AREA: ZONE 15 $566,129   108.7% 130.0% 130.0%   10.06% 23.2% ★★★★
    20 Ritchie AREA: Zone 17 $436,440   105.6% 100.2% 100.2%   3.16% 35.2% ★★★★
    21 Strathcona AREA: ZONE 15 $566,129   108.7% 130.0% 130.0%   10.06% 23.2% ★★★★
    22 King Edward Park AREA: Zone 17 $436,440   105.6% 100.2% 100.2%   3.16% 35.2% ★★★★
    23 Allendale AREA: ZONE 15 $566,129   108.7% 130.0% 130.0%   10.06% 23.2% ★★★★
    24 Daly Grove AREA: ZONE 29 $357,693   86.5% 82.1% 82.1%   1.43% 14.2% ★★★
    25 Rundle Heights AREA: ZONE 23 $308,665   82.5% 70.9% 70.9%   0.27% 15.2% ★★★

Click here to see the full rankings for all 200+ Edmonton neighbourhoods.

SOURCES: REALTORS® Association of Edmonton, Re/Max

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