Red Deer is a city in Central Alberta, Canada. It is located near the midpoint of the Calgary–Edmonton Corridor and is surrounded by Red Deer County. It is Alberta's third-most-populous city – after Calgary and Edmonton.
The city is located in aspen parkland, a region of rolling hills that is home to oil, grain, and cattle production. It is a centre for oil and agriculture distribution, and the surrounding region is a major centre for petrochemical production.
Why should I invest in Red Deer?
With a growing population, there is a growing demand for housing! Red Deers population has grown an average of 3% annually for almost 15 years and it does not seem to be slowing down anytime soon. There is a high demand for high density housing in the city and several projects are already in the works, with several more slated to begin in the next few years. Red Deer has a vacancy rate of only 2.2% and an average family income over $11,000 higher than the Canadian average!
This is great news for investors, keeping your properties tenanted with tenants that can afford higher rents means great monthly cashflow!
Red Deer Market Facts (Summer/Fall 2016):
- 2016 Vacancy Rate: 2.2%
- Average MLS residential sale price: $349,900
- Average MLS Days On Market (DOM): Not Published
- Total Market Listings (MLS): 3450
- Average weekly earnings (Alberta): $1119
- Average 3 bedroom rent: $1190
- Unemployment Rate: 7.8%
According to its 2016 municipal census, Red Deer's population is now 99,832.
In the 2011 Census, Red Deer had a population of 90,564 living in 36,346 of its 38,789 total dwellings, an 8.9% change from its 2006 adjusted population of 83,154. With a land area of 104.29 km2(40.27 sq mi), it had a population density of 868.4/km2 (2,249.1/sq mi) in 2011.