Photo: Neil · CC BY 2.0Owners in Devon value their homes at only 3.5 times what a household earns; the typical Canadian town is at 4.7
That rests on a median home value of $332,000 at the 2021 census and a median household income of $94,500. Owners gave those values at the May 2021 census; they are estimates, and older than today’s prices. Renting a two-bedroom cost an average $1,598 a month in October 2025: a year of it takes 20% of the median income. Figures for two-bedroom rent are published for the Edmonton metro area as a whole, not for Devon alone. On that and its rents, Devon grades C for cost of living (#208 of 474 in Alberta and #1,005 of 2,580 Canadian towns).
What Devon’s housing numbers say
Renting strains household budgets
Shelter costs press harder on tenants than in most towns, against 15% of owning households. Shelter costs ↓
Each figure against the typical Canadian town of 2,500 or more: census 2021 values, CMHC or census rents, StatCan’s housing and transport index.
Devon grades C for cost of living
The two measures the grade weighs, each against every one of the Canadian towns of 2,500 or more.
A household that owns gets off lighter here than one that rents, each set against the typical Canadian town.
Its place on cost of living: #208 of 474 in Alberta and #1,005 of 2,580 Canadian towns.
Buying in Devon costs 0.5 years less of local pay than in Alberta’s towns
The 2021 census median home value in years of the median household income before tax (2020), and a year of rent as a share of that income, beside the towns of 2,500 or more.
Years of household income for the median home
A year’s rent, share of household income
Renting costs much the same: a year of the two-bedroom rent takes close to the share it takes in Alberta’s towns.
Statistics Canada, Census 2021 (home values, household income, census rents); CMHC Rental Market Survey, October (two-bedroom rents where CMHC counts).
A two-bedroom rents for about $1,598 a month
Average rents in purpose-built buildings across Edmonton, October 2025; for two bedrooms that is about the same as the typical Canadian town ($1,598).
By size a month, the tick is the typical Canadian town
CMHC Rental Market Survey, October, via Statistics Canada table 34-10-0133: row and apartment buildings of three or more units.
22% of households spend 30%+ of income on shelter, above the typical 18%
Shelter costs (rent or mortgage, utilities, property tax and condo fees) against household income, census 2021.
Spending 30%+ of income on shelter the tick is the typical Canadian town
Between owners and renters, the 30% line is crossed 3.2 times as often by renters.
Statistics Canada, Census 2021: households spending 30% or more of total income on shelter costs.
Housing and transport take 34% of income, more than in most towns
What a household at the median income spends on its home and on getting around, by Statistics Canada’s 2024 index.
Housing and transport, share of income
Statistics Canada, Housing and Transportation Cost Index 2024 (tables 46-10-0090 and 46-10-0091).
Devon comes to $3,254 a year in property tax, where Alberta’s towns have a median of $2,608
Alberta publishes each municipality’s assessment and mill rates; the 2025 ones, applied to the average dwelling, give this bill. No other province works it out this way.
The places next door, same measure tick: median of Alberta’s towns
Among the neighbours of Devon, Beaumont is highest at $4,461 and Leduc County lowest at $2,651.
Alberta Municipal Affairs, municipal financial and statistical data 2025 (Open Government Licence – Alberta).
77% of households own their home; 23% rent
Census 2021: households by whether they own or rent their home.
At 3.5×, Devon is cheaper against pay than most towns its size (4.4×)
710 Canadian towns of 4,876 to 9,387 people, by the 2021 home value over household income, lowest first.
| Town | Median home value | Rent | ÷ income |
|---|---|---|---|
| Springhill, Nova Scotia B+ | $100K | $650 | 1.8× |
| … | |||
| Edmonton Energy And Technology Park, Edmonton C+ | $220K | $1,598 | 2.6× |
| … | |||
| Slave Lake, Alberta B− | $320K | $1,430 | 2.9× |
| … | |||
| Big Lakes County, Alberta B+ | $226K | $850 | 3× |
| Kiniski Gardens, Edmonton B | $328K | $1,598 | 3× |
| … | |||
| Peace River, Alberta B+ | $300K | $1,100 | 3× |
| … | |||
| Cumberland, Edmonton B+ | $360K | $1,598 | 3.1× |
| … | |||
| Abbeydale, Calgary C− | $300K | $1,908 | 3.5× |
| Charlesworth, Edmonton B− | $392K | $1,598 | 3.5× |
| Deer Lake, Newfoundland and Labrador B− | $220K | $820 | 3.5× |
| Devon C | $332K | $1,598 | 3.5× |
| Lord Roberts, Winnipeg C− | $260K | $1,570 | 3.5× |
| Lac-Mégantic, Quebec C | $180K | $604 | 3.5× |
| Rhineland, Manitoba B− | $280K | $890 | 3.5× |
| … | |||
| Shaughnessy, Vancouver D | $5M | $2,364 | 36.1× |
Census 2021 values and 2020 incomes; rents from CMHC or the census.
Homes in Ambleside are valued $164K higher than in Devon; in Calmar, $32K lower
Neighbours of Devon by 2021 home value, rent and value against income.
| Town | Grade | Median home value | Rent | ÷ income |
|---|---|---|---|---|
| Devon | C | $332K | $1,598 | 3.5× |
| Keswick | B− | $448K | $1,598 | 3.7× |
| Calmar | C | $300K | $1,598 | 3.5× |
| Chappelle | B− | $412K | $1,598 | 3.5× |
| Glenridding Heights | B | $416K | $1,598 | 3.5× |
| Windermere | B | $460K | $1,598 | 3.7× |
| Ambleside | C− | $496K | $1,598 | 5× |
Values: census 2021. Rent: CMHC or census.
What this data can and can’t tell you
- Rents. It is an average over sitting tenants in purpose-built buildings, not the asking rent of a vacant unit, which usually runs higher.
- Income is the town’s own. Income is for 2020, the year the census asked about, so it carries CERB and the other pandemic payments; it is before tax.
- Housing and transport. It is a model, not a survey: Statistics Canada estimates 2024 shelter and travel spending for the median household.
- Compared with what. Two yardsticks: the median of Canada’s towns and neighbourhoods of 2,500+, and the median of Alberta’s towns, neither counting reserves or whole cities.
Questions about living costs in Devon
What does owning a home cost each month in Devon?
With mortgage, property tax, condo fees and utilities together, the median owner paid $1,640 a month in 2021.
Is Devon expensive to live in?
Against local pay, no: the median home is worth fewer years of income than the 4 typical of Alberta’s towns.
What do households in Devon earn?
More than the norm: $94,500 at the median in 2020, where Canada’s towns sit at $85,900 and Alberta’s towns at $92,250.
How much is rent in Devon?
From $1,301 for one bedroom to $1,802 for three, with $1,598 for two: CMHC’s averages for October 2025.
Sources: Statistics Canada, Census of Population 2021 · CMHC Rental Market Survey (Statistics Canada table 34-10-0133) · Statistics Canada, Housing and Transportation Cost Index 2024. 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).