It takes almost two years longer to save a 20% downpayment to put towards a home purchase in Calgary than it takes in Edmonton, even though the time frame in Calgary is one month shorter than in 2023, while in Edmonton, the time frame is one year and four months longer since then.
The time frames were calculated by online real estate portal, Zoocasa which analyzed how savings timelines for single-detached homes in Calgary and Edmonton have changed since June 2023.
“A lot can change in four years,” says Angela Serednicki of Zoocasa. “For Alberta homebuyers, four years of home price and income data show how much longer, or shorter, the path to a downpayment has become (in) the province’s biggest cities.”
Zoocasa’s calculations used real estate board data in each city, assumed savings of 15% of income toward a home each year to reach a 20% downpayment benchmark.
“A household saving 15% of its income a year needs about eight years and one month to reach a 20% downpayment in Calgary as of 2026, almost identical to the eight years recorded in 2023. Calgary’s downpayment burden is close to flat over the full four-year window.” says Serednicki.
The time to save a downpayment peaked at eight years, nine months in Calgary in 2024, due to a one-year jump in the average single-family home price from $685,100 to $767,600 as a result of increased demand brought on by a surge in interprovincial migration to Alberta.
“As that surge has cooled, so has the market. Prices eased to $764,300 in 2025 and continued trending down to $750,500 in 2026, while years-to-save fell to eight years and one month, a pattern that looks more like a temporary demand shock than a lasting shift,” says Serednicki, adding “Calgary’s median family income also grew faster than Edmonton over this period, up 2.88% year-over-year and 10.9% over five years. That growth likely helped cushion the post-2024 pullback.”
In Edmonton, Zoocasa found a household saving 15% of its income a year needs about six years and four months to reach a 20% downpayment as of 2026.
“Unlike Calgary, Edmonton’s years-to-save climbed nearly every year from 2023 to 2026: from five years eight months, to six years, five months, before easing slightly to six years four months,” says Serednicki. “That steady, largely uninterrupted rise points to a structural shift rather than a short-term spike.”
“What’s especially noteworthy is that the more affordable city saw the steeper relative increase. Edmonton’s home price rose 18.9% over four years, more than double Calgary’s 9.5%, despite having a lower starting price point.”
The data makes a strong case against trying to outsmart these cycles, says Ashliegh Griffiths, a Calgary-based real estate agent with eXp Realty, who spoke with Zoocasa.
“Trying to time the market perfectly can backfire. It’s better to buy when it aligns with your personal and financial readiness,” she said.
Her advice for buyers planning a purchase in the next one to two years is straightforward: start early.
“Start preparing sooner than you think,” she said. “Getting in touch with a mortgage broker early, building your savings, and keeping an eye on the market can make a big difference. Having a clear plan puts you in a much stronger position when the right property comes up.”