Photo: Waynercook · Public domainHomes in Red Deer are worth a median $340,000
It is the middle of what 26,255 owner households told the 2021 census. Statistics Canada’s housing statistics carry no sale prices in Alberta; the census value stands in for Red Deer. On the 2024 assessment, the middle residential property is valued at $314,000.
Red Deer’s homes, by two sources
Every figure here is compared within the province, against Alberta’s towns, since each province assesses on its own terms. Self-assessed in May 2021, these values predate the rate rises that followed.
median, owners’ estimate
- Average
- $355K
- Owners
- 26,255
- 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).
Red Deer’s houses carry 2.3 times the assessment of its condos
Detached houses account for 67% of the 34,745 properties on Red Deer’s 2024 roll; condos for 11%.
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.
A younger stock than most: 38% of Red Deer’s homes went up after 2000 (Alberta’s towns: 24%)
40,510 occupied homes stood in Red Deer in 2021, and single-detached houses made up 53% of them.
Homes by period of construction the tick is the median of Alberta’s towns
Homes by kind
| Red Deer | Alberta | Canada | |
|---|---|---|---|
| Condominiums | 15% | 15% | 8% |
| Needing major repairs | 5% | 5% | 6% |
| Too small for the household | 3% | 4% | 3% |
| Households in core housing need | 9% | 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.
Building behind Alberta’s towns: 5.9 new homes a year per 1,000 in Red Deer, against 7.5
Over 2018–2023, 1,489 homes were permitted in Red Deer, close to 248 each year. The mix: 41% in single-unit buildings, beside 69% for Alberta’s towns.
Most in 2020: 430 new homes
New homes a year per 1,000 homes
334 new homes in the 12 months to August 2026, down 30% on the year before
Monthly permits for the Red Deer metro area
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.
Red Deer is 15% 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.
Lower values near Red Deer: Penhold
Next to Red Deer: 2021 census values and the share of owners.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Red Deer | $340K | $355K | 65% | |
| Red Deer County | $496K | $529K | 88% | 11.8 |
| Blackfalds | $332K | $337K | 78% | 13.2 |
| Penhold | $300K | $301K | 80% | 15.8 |
Census 2021 values; km.
Questions about property prices in Red Deer
Is Red Deer expensive for Alberta?
Less than most: Alberta’s towns have a median of $400,000, and Red Deer sits below it.
How many households in Red Deer are in core housing need?
9% of Red Deer’s households, near the 8% of Alberta’s towns, live in a home that is unaffordable, crowded or in poor repair and can’t afford a better one nearby.
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).