5 Affordable Neighbourhoods in Central Edmonton Featured Image

5 Affordable Neighbourhoods in Central Edmonton

October 22, 2021 7:00 am Published by

5 Affordable Neighbourhoods in Central Edmonton Featured ImageHome to some of Edmonton’s oldest and most established neighbourhoods, Central Edmonton is both the physical and historical core of Alberta’s Capital City. Featuring a vibrant arts and culture district, a thriving business sector and some of the best amenities in the capital region, Central Edmonton encompasses a multitude of unique and affordable communities, perfect for any buyer on a budget.

Community Spotlight: Cromdale in Northeast Central Edmonton Featured Image

Boyle Street 

Average Listing Price: $234,000

Minimum Listing Price: $49,999

Maximum Listing Price: $3M

One of Edmonton’s oldest neighbourhoods, Boyle Street was first established in 1892 along with the town of Edmonton. Often referred to as Downtown East Side, this historical community was once a hub for commercial activity. Most residences within Boyle Street were constructed in the 1970s, as older buildings were removed during redevelopment (though many heritage buildings remain).

High and low-rise condos account for over 80% of all Boyle Street residences. Every bit as unique as the neighbourhood itself, apartments in the area range from studio-style units starting at $50,000 to 3+ bedroom suites offering 1,500+ square feet for less than $150,000. Although less common, Boyle Street does include a small number of single-family homes, duplexes and townhomes, with an emphasis on older character properties, divided into multiple income suites.

Eastwood 

Average Listing Price: $322,000

Minimum Listing Price: $69,500

Maximum Listing Price: $2M

Eastwood is a mature North Central Edmonton neighbourhood situated directly south of the Yellowhead Hwy. Dating back to the early 1900s with the expansion of Edmonton’s streetcar line, many homes within the area were constructed before WWI. Although slow to start, residential development was mostly complete by the early 1950s. Redevelopment of the neighbourhood has been ongoing over the last several decades, and many of the area’s older detached homes are being replaced with modern multi-family infill.

Check out our previous community feature: Edmonton Community Spotlight: Delton and Eastwood

Home styles within Eastwood are a near-even split between affordable low-rise apartments and single-family homes. Older pre and post-war character homes are common to the area (starting in the low 100s), as well as an increasing number of newly constructed properties. An ideal neighbourhood for first-time buyers and real estate investors, the average two-bedroom, one-bathroom apartment in Eastwood is priced at $69,000.

Are you thinking about buying an infill home in Edmonton? Download your free guide: Edmonton’s Top Infill Communities

Edmonton Community Spotlight: Idylwylde in Southeast Edmonton Featured Image

McCauley 

Average Listing Price: $601,000

Minimum Listing Price: $189,900

Maximum Listing Price: $5M

Home to Commonwealth Stadium and the Edmonton Elks, McCauley is an inner-city neighbourhood bounded by 101st Street to the west, 111th Ave to the north, the LRT corridor to the east and 105th Ave to the south. Like many Central Edmonton neighbourhoods, McCauley’s roots date back to the early 1900s, when Edmonton was first established as a city. Recently, city-led revitalization initiatives have breathed new life into this one-of-a-kind community, now ranked as one of Edmonton’s best places to live.

Residential properties within McCauley consist predominantly of single-family homes. Due to the community’s mature status, some detached properties in the area are over 100 years old, though many have been replaced with modern infill homes. Affordable home prices paired with close proximity to city-centre amenities (downtown, the North Saskatchewan River Valley, Kingsway Mall and more) have made McCauley an attractive neighbourhood among first-time buyers and Edmonton real estate investors.

See also: The 5 Key Benefits of Investing in Real Estate

Parkdale 

Average Listing Price: $322,000

Minimum Listing Price: $64,900

Maximum Listing Price: $2M

First established in 1908 along with Edmonton’s streetcar railway, Parkdale is a low-density residential neighbourhood situated only 8-minutes from downtown Edmonton. Extremely amenity-friendly, Parkdale houses a local school, an active community league and sits within short distance of shops, services, recreation venues, parks and more. Notable nearby amenities include Commonwealth Stadium, Borden Park, the Edmonton LRT system, Kingsway Mall and the Royal Alexandra Hospital.

See also: 7 Amenities to Look For In Your Next Neighbourhood

Roughly 70% of Parkdale residences are single-family homes. These consist mainly of pre and post-war bungalows featuring three bedrooms, two bathrooms, modern upgrades and large lots. Infill homes, including contemporary laned homes and roomy duplexes, are also becoming increasingly popular. High and low-rise apartment-style condos account for just under 30% of the area’s remaining home styles, with prices starting as low as $65,000. 

Edmonton Community Spotlight: Alberta Avenue (Norwood) Featured Image

Westwood 

Average Listing Price: $393,000

Minimum Listing Price: $69,900

Maximum Listing Price: $1M

Westwood encompasses all real estate located east of 107th Street, south of Yellowhead Trail, west of 97th Street and north of 118th Ave. First annexed by the City of Edmonton in the early 1900s, Westwood remained largely undeveloped until the housing boom of WWII. Today, residents of this thriving neighbourhood enjoy access to ultra-modern amenities, including Kingsway Mall, NAIT and the many shops, services, and businesses of nearby downtown Edmonton.

Westwood’s varied home styles make it well-suited to every lifestyle and budget. First-time buyers, working professionals and students are especially attracted to the area, with two-bedroom, one-bathroom condo prices as low as $69,000. In addition, Westwood’s many quaint, modestly priced bungalows make ideal starter homes, with prices starting in the upper 100s.

Please contact us to learn more about Edmonton homes for sale and real estate opportunities in Central Edmonton. For further community or home buyer related information, we invite you to take advantage of our free buyer’s resources, including: 

Note: Average neighbourhood listing prices will vary according to homes currently listed.  

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This post was written by Terry Paranych Real Estate Group