Alberta’s Economic Boom and the Rise of Calgary’s Surrounding Towns
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: 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. 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: 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.