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Ann-Marie Lurie, chief economist with AREA, said that with these types of analyses it’s important to give perspective.

“With every centre in the province there is always a wide range of property types, so while that might be the average and it’s nice as a benchmark, each of these areas also have different product type and different price ranges,” said Lurie.

“That’s one thing to keep note of when you’re looking at this.”

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The most affordable place to live in the province, according to the analysis, is Fort McMurray.

The average housing price in the northern city in June was $439,664, while the median one-person household income was $106,912 and two-person household income was $221,425. The average housing cost out-priced the one-person income by only 4.1 times and two-person income by just two times.

The affordability in Fort McMurrary, said Lurie, is in part due to where we’ve come from.

“We went through a recessionary period particularly in centres that were impacted by the energy sector,” said Lurie. “We really saw prices come down in some of those centres.

“Fort McMurray is, of course, one of them where they’ve seen some fairly significant price drops in their area. Some of that has likely contributed to the results we’re now seeing.”

Of note from the report is that there are no affordable markets for single-income earning households.

However, Lurie said it would be interesting to see how much product is available at different price ranges.