Cost of Living
Alberta SouthWest has a ‘Low’ Cost of Living
Using average household income and average house price in the Region (2005) compared to Alberta, and average house price in the Region (2010), Alberta SouthWest communities:
- Have 30% lower household income than the Alberta average, BUT
- Have an average house price that is 58% lower than the Alberta average
A mortgage is the major component of shelter costs (in addition to municipal taxes and utilities
| Average Alberta family income (2005) |
$73,823 |
| Average house price - Alberta (2010) |
$349,000 |
| Average family income in Region (2005) |
$55,658 |
| Average house price in Region (2010) |
$146,673 |
| |
|
| Average family income |
25% lower than Alberta average |
| Average house price |
58% lower than Alberta average |
Newcomers to Canada typically earn less income than established Canadians, though studies have shown that income differential narrows over time.
Expenditures
Average household expenditure can be used as a general guide to show where Canadians spend their income and to help budget cost of living. Data is not available for Alberta SouthWest; data for the Calgary Metropolitan Region is shown with a word of caution: household income is much higher in the Calgary Region, offset by shelter, and transportation costs that are much higher in the Calgary Region. Also note that taxes are a ratio of total income, and would be lower if you have lower household income. The average household size in the Calgary Region was 2.7 in 2006, and can be used as a rough guide to raise or lower your calculations based on whether you have a larger or smaller family.
| |
Amount ($) |
% of total |
| Total current consumption |
62,732 |
70 |
| Shelter |
17,968 |
20 |
| Transportation |
12,216 |
14 |
| Food |
8,083 |
9 |
| Recreation |
5,144 |
6 |
| Houshold Operation |
3,803 |
4 |
| Clothing |
3,680 |
4 |
| Health Care |
2,623 |
3 |
| Household furnishings and equipment |
2,181 |
2.5 |
| Tobacco products and alcoholic beverages |
1,807 |
2 |
| Miscellaneous |
1,745 |
2 |
| Education |
1,456 |
2 |
| Reading materials and other printed matter |
324 |
0.4 |
| Games of chance (net) |
266 |
0.3 |
| Personal income taxes |
20,125 |
22 |
| Personal insurance payments and pension contributions |
4,451 |
5 |
| Gifts of money and contributions |
2,270 |
2.5 |
| Total Expenditure |
89,578 |
100 |
