Photo: Yoshio Kohara · CC BY 3.0Homes in Banff are worth 81% more than the median of Alberta’s towns
At the 2021 census the median home was worth $725,000, where Alberta’s towns sit at $400,000. No open sale prices are published in Alberta, so for Banff the census value is the measure. For 2024, the median assessed value of a residential property is $839,000.
Two ways to price a home in Banff
Every figure here is compared within the province, against Alberta’s towns, since each province assesses on its own terms. The values date from May 2021 and are what owners thought their homes were worth, not sale prices.
median, owners’ estimate
- Average
- $812K
- Owners
- 1,230
- Alberta’s towns
- $400K
- The typical Canadian town
- $406K
all residential
- Alberta’s towns
- $297K
Census 2021 (Statistics Canada); Canadian Housing Statistics Program, tables 46-10-0099 and 46-10-0093; Québec rôle d’évaluation foncière 2026 (MAMH).
Banff’s detached houses are assessed at 3.9 times the median of Alberta’s towns
Condos account for 35% of the 1,920 properties on Banff’s 2024 roll.
Median assessment by type, 2024 the tick is the median of Alberta’s towns
Canadian Housing Statistics Program, table 46-10-0093 (2024): residential properties on the assessment roll, vacant land left out. The ticks are the median of Alberta’s towns with their own figure; assessments compare within a province only.
49% of Banff lives in apartments, where Alberta’s towns have 14%
Banff had 2,930 occupied homes at the 2021 census. The older half dates from before 2001.
Homes by period of construction the tick is the median of Alberta’s towns
Homes by kind
| Banff | Alberta | Canada | |
|---|---|---|---|
| Condominiums | 39% | 15% | 8% |
| Needing major repairs | 3% | 5% | 6% |
| Too small for the household | 9% | 4% | 3% |
| Households in core housing need | 7% | 8% | 7% |
Census 2021 (Statistics Canada): occupied private dwellings; core housing need as Statistics Canada defines it. Ticks and columns are medians of the towns and neighbourhoods of 2,500 or more.
Permits in Banff ran at 7.2 homes a year per 1,000, near the 7.5 of Alberta’s towns
Some 19 homes a year: 115 in all were permitted in Banff from 2018 to 2023. Apartments and other multi-unit buildings dominate: only 1% were single-unit, against 69% for Alberta’s towns.
Most in 2021: 50 new homes
New homes a year per 1,000 homes
Statistics Canada, tables 46-10-0087 (building permits by census subdivision, 2018–2023: dwelling units created, new construction and conversions) and 34-10-0292 (monthly, metro areas). Per 1,000: units a year over 2019–2023 against occupied homes in 2021.
Banff against Alberta’s towns: 81% over the $400,000 median
The census values of Alberta’s towns, 478 of them with 2,500+ people, from dearest to cheapest.
Census 2021, owners’ estimates; towns and neighbourhoods of 2,500 or more, no city as a whole, no reserve.
Cheaper next to Banff: Improvement District No. 9 Banff
Next to Banff: 2021 census values and the share of owners. The nearest places to Banff with figures are 19–49 km away.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Banff | $725K | $812K | 42% | |
| Canmore | $850K | $943K | 66% | 19.4 |
| Bighorn No. 8 | $800K | $812K | 82% | 31.1 |
| Improvement District No. 9 Banff | $650K | $640K | 19% | 48.7 |
Census 2021 values; km.
Questions about property prices in Banff
Is Banff expensive for Alberta?
Above the norm for Alberta’s towns, whose median home is worth $400,000; Banff’s is worth more.
How many households in Banff are in core housing need?
Statistics Canada puts 7% of Banff’s households in core housing need, much as for Alberta’s towns (8%).
Sources: Statistics Canada, Census of Population 2021 · Statistics Canada, Canadian Housing Statistics Program · Statistics Canada, building permits (tables 46-10-0087 and 34-10-0292). Under the Statistics Canada Open Licence.
Adapted from Statistics Canada (Census of Population 2021, population estimates 2025, 2021 census boundaries) under the Statistics Canada Open Licence; this does not constitute an endorsement by Statistics Canada. Neighbourhood names in some cities © OpenStreetMap contributors (ODbL).