These Are Some Of Alberta's Cheapest Cities To Live In & You Can Buy A House For Under $350K

Calgary and Edmonton may be two of the most affordable housing markets in Canada when it comes to big-city living, but there's a new list that points to some even cheaper areas in Alberta for those really looking to cut back on costs.

Moving company Moving Waldo said the lower cost of living, affordable real estate, faster commutes and stunning views in Alberta are some of the main reasons many people are choosing to move to the province.

It ranked cities in Alberta based on apartment and house prices as well as their quality of life and access to essential facilities nearby.

Coming out on top as the cheapest place to live in Alberta with the best quality of life was Lloydminster, a city right on the border between Alberta and Saskatchewan.

Despite spanning across two provinces, Lloydminster is still extremely affordable. According to the ranking, the average price for a home in the city is $342,000. You can even rent a one-bedroom condo in the city for less than $1,000 (around $915) a month.

The second city on the list is Medicine Hat, a city in southern Alberta. Moving Waldo said that the median cost of houses in the city was around $346,000. The cost of renting a one-bedroom condo in the city is around $937 a month.

Grande Prairie, in northwestern Alberta came in third with houses costing around $399,000. However, renting a one-bed condo in the city could end up costing you less overall, with some apartments costing just $856 a month.

Rounding off the list was High River, Cold Lake, Stony Plain, Lethbridge, Red Deer, Camrose and Sylvan Lake.

Despite not making the list, Moving Waldo said Calgary and Edmonton are still affordable options in comparison to other big Canadian cities as house resale values are often less than $500,000, in comparison to Toronto and Vancouver with average prices of $1.24 million.