Over the past 16 years, St. Albert’s real estate landscape has undergone a noticeable transformation. While single-family homes remain a cornerstone of the housing market, there has been a clear shift towards multi-family homes such as duplexes, townhouses, and apartments. This trend reflects changing demographics, affordability needs, and a growing demand for diverse housing options. In this blog, we explore the rise of multi-family homes in St. Albert and what it means for buyers, investors, and the local community.
St. Albert’s Changing Housing Mix
Between 2008 and 2024, the share of single-family homes in St. Albert has steadily decreased, while higher-density housing options have gained traction. This shift has been driven by:
- Affordability: Rising housing costs have increased demand for more affordable options like townhouses and apartments.
- Demographics: Downsizing seniors and young professionals are seeking smaller, lower-maintenance homes.
- Land Use Efficiency: Higher-density housing maximizes land use in a growing city.
| Housing Type | 2008 % of Total | 2018 % of Total | 2024 % of Total |
|---|---|---|---|
| Single-Family Homes | 75.7% | 71.3% | 67.1% |
| Townhouses/Duplexes | 10.0% | 13.5% | 14.3% |
| Apartments | 9.9% | 13.9% | 19.1% |
As shown above, the percentage of single-family homes has dropped by nearly 10% since 2008, while apartments and townhouses have steadily risen.
Why is Multi-Family Housing Growing in St. Albert?
1. Affordability for Young Families and First-Time Buyers
As housing prices continue to rise, many young families and first-time buyers are opting for townhouses and duplexes as an affordable entry into the St. Albert real estate market. Multi-family homes offer:
- Lower purchase prices compared to single-family homes.
- Modern designs and energy-efficient options.
- Proximity to schools, parks, and amenities in family-friendly neighbourhoods.
For example:
- The average price of a townhouse in St. Albert is approximately $400,000.
- This is significantly lower than the average price of a single-family home at $550,000.
2. Downsizing for Seniors
St. Albert’s aging population has contributed to the increased demand for multi-family housing. Seniors looking to downsize are opting for apartments and bungalows that offer:
- Single-level living for accessibility.
- Low-maintenance lifestyles.
- Proximity to healthcare facilities and community services.
Neighbourhoods like Mission, Oakmont, and Downtown are particularly popular among seniors seeking downsized living options with access to amenities.
3. Efficient Land Use and Urban Planning
As St. Albert continues to grow, the city is prioritizing higher-density housing to accommodate new residents without sprawling into surrounding areas. Developments like Jensen Lakes and Riverside integrate multi-family homes to provide variety while maximizing land use efficiency.
Where Are Multi-Family Homes Thriving?
Several neighbourhoods in St. Albert are leading the way in multi-family housing growth:
| Neighbourhood | Key Features | Housing Focus |
|---|---|---|
| Jensen Lakes | New development with mixed housing | Apartments, townhouses |
| Riverside | Modern, nature-focused community | Duplexes, townhouses |
| Downtown | Urban living with proximity to shops | Apartments, senior-friendly |
| Ville Giroux | High-density developments | Condos, retirement housing |
| Erin Ridge North | Family-oriented, affordable options | Duplexes, townhouses |
Map: Multi-Family Housing Growth Hotspots [Insert Heat Map showing multi-family housing concentration in key neighbourhoods like Jensen Lakes, Riverside, and Downtown.]
Impact on St. Albert Real Estate
The rise of multi-family homes is reshaping St. Albert’s property market, creating opportunities for buyers, investors, and developers alike.
1. Opportunities for Buyers
For young families, first-time buyers, and seniors, multi-family housing provides:
- Affordable entry points into the market.
- Variety in housing options to suit different needs.
- Access to well-planned communities with amenities.
2. Investment Potential
Multi-family properties, particularly apartments and townhouses, offer excellent opportunities for real estate investors. With consistent demand for rental housing in St. Albert, investors can benefit from:
- Strong rental yields.
- Low vacancy rates due to ongoing population growth.
3. Urban Development and Community Planning
The shift toward higher-density housing supports St. Albert’s long-term urban planning goals. By integrating multi-family homes into new and existing communities, the city can:
- Promote sustainable growth.
- Enhance walkability and access to amenities.
- Create vibrant, diverse neighbourhoods.
Looking Ahead: The Future of Housing in St. Albert
As St. Albert continues to grow, multi-family housing will play a crucial role in meeting the needs of its diverse population. Trends to watch include:
- Increased Condo Developments: Particularly in urban areas like Downtown and Ville Giroux.
- Family-Focused Townhouses: Continued demand for affordable, spacious homes in areas like Jensen Lakes and Erin Ridge North.
- Senior-Friendly Housing: More retirement-focused developments to accommodate the city’s aging population.
For buyers, investors, and developers, this evolution in housing represents an opportunity to engage with St. Albert’s vibrant real estate market.
Conclusion: A City for Everyone
The rise of multi-family homes in St. Albert reflects the city’s ability to adapt to changing housing needs. With options ranging from modern townhouses to senior-friendly apartments, St. Albert’s property market is becoming more diverse and accessible than ever before.
Whether you’re a young family, a retiree, or an investor, St. Albert offers housing options that cater to every stage of life. Now is the perfect time to explore opportunities in this dynamic and growing community.
Ready to find your ideal home in St. Albert? Contact us today to explore the latest multi-family housing options!
