The typical owner-occupied home in Alberta is worth about $91,800, 76% below the Virginia median of $383,700 and 72% below the national median of $332,700. Owners pay a median $594 a year in property taxes, about 0.65% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $41,964 a year, so the median home costs 2.2 times the median income (4.1 times for Virginia). 62% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Alberta at a glance
| Alberta | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $91,800 | $383,700 | $332,700 |
| Median property tax paid per year | $594 | $2,790 | $3,119 |
| Property tax as a share of value | 0.65% | 0.73% | 0.94% |
| Median household income | $41,964 | $93,170 | $80,734 |
| Homes lived in by their owners | 62% | 67% | 65% |
| Owner homes with a mortgage | 40% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,284 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 20.2% | 20.1% | 21.0% |
| Median rent | $632 | $1,579 | $1,413 |
| Rent as a share of renters' income | 30.7% | 29.4% | 30.6% |
| Median year homes were built | 1954 | 1984 | 1980 |
| Vacant homes | 7.5% | 8.7% | 10.1% |
| Population | 345 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Alberta
At this week's average 30-year rate of 7.11%, buying the median Alberta home of $91,800 with 20% down costs about $582 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $735, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,944 for the 20%-down payment. That payment is 17% of the median Alberta household income of $41,964; at that income and 20% down, the 28% guideline points to a home of about $154,000.
The median rent here is $632 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,360 |
|---|---|
| Loan amount | $73,440 |
| Principal and interest | $494 |
| Property taxes (0.65% a year) | $50 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $582 |
Change the numbers in the calculator
| Down payment | $3,213 |
|---|---|
| Loan amount | $90,137 |
| Principal and interest | $606 |
| Property taxes (0.65% a year) | $50 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $41 |
| Total per month | $735 |
Change the numbers in the calculator
Questions about home buying in Alberta
What is the median home value in Alberta?
About $91,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Alberta?
Homeowners pay a median $594 a year, which is about 0.65% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Alberta?
For the median home with 20% down at 7.11%, the payment is about $582 a month. Keeping that under 28% of gross income takes about $24,944 a year.
More about Alberta
- Mortgage Refinance in Alberta
- Debt Relief in Alberta
- Home Equity Loans in Alberta
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data