Edmonton legalized building more housing everywhere, and now the city is getting more affordable.
The city's Q3 economic update was released this week, and it's very good news.
Consumer price inflation was the lowest it's been in 5 years, driven primarily by a slower growth in shelter prices. In the same period, we've seen a record high growth in new housing, especially multi-family development and rentals.
Consumer price inflation moderated to its slowest pace in nearly five years. The improvement in consumer inflation was driven by an easing in price growth in the shelter component. This easing coincided with continued strength in new housing construction in both Edmonton and the CMA, especially for multi-family dwellings (i.e., semi-detached, row and apartments) and, within those, specifically for rental units.
Or put more simply, we're building more housing, and it's making housing cheaper.
Just look at the graphs
Housing starts were up 22% in 2025, forecasted to reach 16,426 units. While there's a modest 11% decline forecasted for 2026, the report notes that federal housing initiatives could absolutely swing that number in the other direction.
Federal policy choices intended to expand housing supply in recent years through new home construction have been effective in Edmonton, particularly in the apartment segment. This presents an upside risk to the City's housing starts forecast should strength in apartment construction persist.
Plus, even declining from this year, we're still predicted to have a decade high amount of new housing starts.
And look at what's in progress. The amount of in-construction housing is at a record high since the '90s.
There's been a notable shift to building purpose-built rental housing. This is controlling rental costs, which is driving down inflation.
The only census metropolitan area in Canada that had a lower inflation rate than us for the third quarter of 2025 was Thunder Bay.
And come on.
Meanwhile, in Calgary
Right now our neighbours in Calgary are making the mistake of undoing their progress with zoning. They're repealing policy that increases availability and affordability of housing.
And they're flushing federal dollars down their unfluoridated toilets.
This particular battle of Alberta is no contest.
Also, the Flames suck.
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