Photo: Mhalifu · CC BY-SA 3.0Permits in Peace River added just 3.3 homes a year for every 1,000, where Alberta’s towns added 7.5
Owners valued the median home at $300,000 at the 2021 census, and the average at $312,800. Statistics Canada’s housing statistics carry no sale prices in Alberta; the census value stands in for Peace River. The 2024 property assessment puts the median residential property at $238,000.
Two ways to price a home in Peace River
Each source sits beside its own median for Alberta’s towns; none compares across provinces, which value homes in their own ways. A census value is an owner’s guess at a selling price in May 2021, and prices have moved since.
median, owners’ estimate
- Average
- $313K
- Owners
- 1,530
- 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).
Houses against condos in Peace River: 4 times the assessed value
In 2024, Peace River had 2,310 residential properties on the roll, detached houses 73% of them and condos 9%.
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.
9% of Peace River’s homes need major repairs, against 5% for Alberta’s towns
The 2021 census counted 2,590 occupied homes in Peace River; 62% of them are single-detached houses. At least half predate 1981.
Homes by period of construction the tick is the median of Alberta’s towns
Homes by kind
| Peace River | Alberta | Canada | |
|---|---|---|---|
| Condominiums | 10% | 15% | 8% |
| Needing major repairs | 9% | 5% | 6% |
| Too small for the household | 5% | 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.
The peak came in 2023, when Peace River permitted 32 new homes
Some 8 homes a year: 48 in all were permitted in Peace River from 2018 to 2023. Only 14% went into single-unit buildings, beside 69% for Alberta’s towns.
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.
Peace River is 25% below the $400,000 median of Alberta’s towns
478 of Alberta’s towns (2,500 people or more), by median value at the 2021 census, dearest first.
Census 2021, owners’ estimates; towns and neighbourhoods of 2,500 or more, no city as a whole, no reserve.
Peace River’s neighbours by home value
The places around Peace River at the 2021 census: median and average value, and how many own.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Peace River | $300K | $313K | 59% | |
| Northern Sunrise County | $300K | $332K | 83% | 9.7 |
| Peace No. 135 | $348K | $380K | 89% | 11.3 |
Census 2021 values; km.
Questions about property prices in Peace River
Is Peace River expensive for Alberta?
Less than most: Alberta’s towns have a median of $400,000, and Peace River sits below it.
How many households in Peace River are in core housing need?
In Peace River, 7% of households are in core housing need, close to the 8% of Alberta’s towns: those whose home costs too much, is too small or needs major repairs, with nothing suitable nearby under 30% of their income.
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).