Alberta has always carried the reputation of being Canada’s economic powerhouse, thanks to oil and gas. But in recent years, the province has been proving something new: that it can thrive well beyond the energy sector. Today, Alberta is attracting global attention for its diversification, growth, and resilience, qualities that make it one of the most compelling real estate markets in the country.
For investors, the story is even bigger than Calgary and Edmonton. Just beyond Calgary’s borders, towns like Strathmore, Okotoks, Chestermere, Cochrane, and Airdrie are becoming ground zero for opportunity in multi-family housing.
Alberta’s Economy: More Than Oil and Gas
The province is no longer dependent on just one sector. While energy remains strong, Alberta’s job market has expanded into:
- Technology: Calgary saw record venture capital investment in 2022, fueling a booming tech ecosystem.
- Healthcare & Education: Edmonton, as the provincial capital, continues to provide stable employment through its universities, hospitals, and government roles.
- Logistics & Finance: With one of the busiest transportation corridors in Canada and a growing financial services sector, Alberta is attracting talent across industries.
This diversification cushions Alberta’s economy against volatility and sustains a low unemployment rate, which in turn fuels demand for housing.
Why Calgary’s Neighboring Towns Are Thriving
Calgary’s affordability compared to Vancouver or Toronto is already a huge draw. But as the city grows, smaller surrounding towns are emerging as the true gems for renters and investors alike.
- Strathmore: Just east of Calgary, it’s known for its affordability, open spaces, and family-friendly environment. Many families priced out of Calgary are finding Strathmore offers more house for less.
- Okotoks: A dynamic town with schools, recreation, and cultural events, Okotoks is especially popular among young families seeking both lifestyle and affordability.
- Chestermere: Lakeside living minutes from Calgary makes Chestermere highly desirable. Its recreational opportunities and rising rental demand make it attractive for investors.
- Cochrane: Nestled against the Rockies, Cochrane combines natural beauty with rapid development. Its population has nearly doubled in 20 years, reflecting strong housing demand.
- Airdrie: Once a commuter town, Airdrie is now a thriving hub with its own amenities, schools, and businesses. Its population has surged past 80,000 and continues to climb.
These towns are not just “spillover” markets; they are self-sustaining communities with unique draws, strong demand, and fast-growing populations.
CMHC MLI Select: Unlocking Multi-Family Potential
For real estate investors, financing can be the key to growth. This is where CMHC’s MLI Select program changes the game:
- High leverage: Up to 95% Loan-to-Value (LTV) allows investors to scale quickly without massive upfront capital.
- Long amortization: Terms of up to 50 years improve monthly cash flow and lower debt costs.
- Support for affordable & sustainable housing: Properties that incorporate affordability, accessibility, or energy efficiency can unlock even better financing.
Pair Alberta’s affordable entry prices with MLI Select’s favorable financing, and you have an unmatched opportunity to own and grow in one of Canada’s most dynamic housing markets.
Final Thought
The combination of Alberta’s economic diversification, Calgary’s affordability, and the growing demand in nearby towns makes this region one of the most promising real estate markets in Canada. For investors, the opportunity is twofold: you’re not just investing in multi-family housing, you’re investing in communities that are shaping Alberta’s future.
