Airdrie, Alberta real estate and rental market

[Chris Muller]

I’ve been starting to look at expansion again outside of the Okanagan and have found some off market properties in Airdrie.

I’ve started doing my research, but also wanted to lean on anyone currently working in this market - mainly focused on suited single family homes.

That being said, here are my questions:

1. Any particular areas to avoid?

2. Rental rates - top floor/basement suite/whole house?

From browsing ads it looks like top floors (3 bed) are 1500-1800 with or without utilities

Basement suites (2 bed) are 1100-1350 with it without utilities depending on the listing

Whole houses are in around 1900-2300 plus utilities

Does this translate to actual market rents? As people can ask anything.

3. What is vacancy like?

4. What is the preferable tenant profile? Families seems to be a good fit for the community from what I’ve been seeing

5. Where are prices these days? I’m looking at 1-90’s build and 2-2000’s built houses with non-confirming/illegal suites.

6. How busy is the market - are homes driving multiple offers or are buyers able to scoop up under list price?

Any market info/advice is appreciated as always! If I’ve missed anything, please do chime in.