Edmonton's housing affordability predicted to remain solid

Advertisement 1 This advertisement has not loaded yet, but your article continues below. Breadcrumb Trail Links HomeLifeHomes Edmonton's housing affordability predicted to remain solid Housing starts are supporting the forecast demand in housing, with affordability possibly recovering to 2019 levels in 10 years. Author of the article: By Joel Schlesinger  •  for the Edmonton Journal Published Sep 24, 2026 Last updated 27 minutes ago 2 minute read Join the conversation Edmonton could return to an average house price-to-average gross household income ratio of 25 per cent in 10 years. It currently stands at 30 per cent. PHOTO BY GREG SOUTHAM /Postmedia Article content Edmonton is leading all major markets in a new study looking at future housing affordability. Canada Mortgage and Housing Corp. released its Fall 2026 Housing Supply Report, examining whether the current average annual new home starts would be sufficient by 2036 to restore affordability to 2019 levels. Article content “In Edmonton, there’s no measurable supply gap, based on our modeling, suggesting that the current pace is sufficient to maintain pre-pandemic affordability over the next decade,” says Taylor Pardy, lead economist for the Prairies at CMHC. Article content Article content Article content That’s unlike other major markets where significant supply gaps exist, with the exception of Calgary. The study shows Calgary has a modest supply gap that is likely already closing based on its recent high levels of annual starts. Article content Headline News Get the latest headlines, breaking news and columns. Sign Up By signing up you consent to receive the above newsletter from Postmedia Network Inc. Interested in more newsletters? Browse here. Article content “Their results in the study are really a function of how well Edmonton and Calgary have been in recent years scaling up supply.” Article content Pardy adds that the study does not propose that restoring affordability to 2019 levels involves prices returning to pre-pandemic levels. Article content Rather, CMHC cites that restoring affordability is based on the average house price-to-average gross household income ratio. Article content In Edmonton, that ratio was about 25 per cent in 2019. Today, it is slightly above 30 per cent. For the ratio to decrease to about 25 per cent, Edmonton’s average annual start pace of 15,000 — which is below recent annual averages including a record-setting 21,337 starts in 2025 — would…