Located in Central Alberta right between Edmonton and Calgary, Red Deer offers all the benefits of a small town while still providing all of the amenities you could want or need. As of 2023, Red Deer has an estimated population of just over 116,000, making it Alberta’s third largest city.

According to MoneySense, Red Deer was ranked in 2018 as the 12th best place to live in Canada. With Red Deer’s diversifying economy and its surge in the arts, culture, and recreation, this city is one of the highest-growth places in Canada as a whole.

Why do people love to live in Red Deer? Keep reading, and you’ll find out why it’s becoming such a popular place to reside in.

The economy in Red Deer

Red Deer’s economy is one of its most defining features.

Widely considered one of the most entrepreneurial cities in Canada, Red Deer provides a diverse range of opportunities for different businesses. The city itself is known for its retail and industrial-scale businesses, and Red Deer competes with other large cities in not only Alberta but also across the whole western half of Canada. 

There are over 4,000 businesses in Red Deer, which provide its population with over 62,000 jobs. Key industries include health care and social assistance, retail trade, construction, mining, quarrying, oil and gas extraction, accommodation and food services, manufacturing, and educational services.

Red Deer’s location and thriving economy make it perfect for people looking to build their lives and test out new business prospects. There are various employment and investment opportunities — especially in health care, construction, and oil & gas — but there are many other diverse opportunities for new Red Deer residents no matter the industry.

Red Deer is located along Alberta’s most populated transport lanes of the Queen Elizabeth II highway, and the area as a whole is considered one of the most prosperous regions in North America. Because of this, Alberta’s economy has greatly improved and has become somewhat of a standard in Canada.

As Red Deer is still a growing city, constantly surging in population and popularity, there are always new residential, industrial, and commercial developments to accommodate demand.

The healthcare sector in Red Deer is expected to grow exponentially with the $100 million CAD first-phase expansion to Red Deer Regional Hospital, which began planning in 2021. The increase in hospital capacity will encourage the growth of the healthcare and supporting sectors greatly.

The Red Deer community

Supported by a good economy, Red Deer’s community makes it what it is — a comfortable place to settle down.

The population of Red Deer grew about 1.2 percent from 2016 to 2019 and is expected to further rise.

Diversity and immigration are defining features of Red Deer’s community. In 2016, immigrants accounted for 15% of the population, with the majority moving to central Alberta around 2011. You’ll find neighbors from the Philippines, the United Kingdom, the United States, El Salvador, and India. 

Moving to another country is easily one of the most stressful and life-changing decisions any person can make. But Red Deer is one of the most accommodating cities in Canada in regards to immigration, offering good, affordable housing and strong employment prospects. 

Within Red Deer, there’s a diverse set of neighborhoods to live in. Each neighborhood has its own style, perks, and lifestyle. There’s a division within the city between North Red Deer and South Red Deer, and Gaetz Avenue is considered the dividing line between East and West, and the Red Deer River between North and South.

Another thing that Red Deer residents love is the school system. For children, the city offers public, private, Catholic, and even Francophone schools. The city also offers many post-secondary learning options specifically designed to support and provide experience for its workforce, especially in Red Deer’s key industries.  The newly coined Red Deer Polytechnic post secondary school now offers various degrees and one of the best trade schools in the country. Red Deer offers its residents — both young and old — opportunities for education and professional advancement.

As a province, Alberta is renowned for its outdoor activities. Red Deer is no exception — there are plenty of outdoor activities to do, especially when the weather is warm and accommodating. Red Deer’s amazing trail system is second to none, with paved trails that run from the South end to the North end of the city and all along the Red Deer River. There are also many popular community parks, such as Kin Kanyon, Rotary Park, Barrett Park, Coronation Park, and Bower Ponds, where you can fish in the summer and ice skate during winter. 

Nature lovers of all kinds can find camping, hiking, fishing, and sightseeing within city limits, with Red Deer hosting approximately 300 acres of boardwalks and gardens.

Red Deer’s real estate

Residents love that Red Deer is one of the most affordable cities in Canada. Its cost of living index is approximately 2.89%, which is lower than other major Alberta cities like Edmonton & Calgary. Without rent inclusion, the cost of living for an average family of four is about $4,300 CAD per month. 

The city also has low rent and housing prices compared to other cities of its size. A one-bedroom apartment in the city costs anywhere from $800 to $1,200 CAD per month, and suburban family townhomes can be rented for about $1,000 to $1,800 CAD a month. According to Redfin data, the average list price for a Red Deer property is $309,300 CAD, with real estate ranging from humble mobiles in Normandeau to multi-million dollar mansions in Sunnybrook.

With a relatively low cost of living and affordable housing, Red Deer remains one of the best places to settle down in Canada.

Do you want more information on Red Deer real estate?

If you are interested in browsing properties for sale in Red Deer, or new homes in Red Deer County, contact Andrew Russell & Associates for more information.