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Edmonton’s benchmark home price puts the city among the most affordable real estate markets in Canada, a new study shows.

Realty firm Zoocasa conducted an analysis of median incomes across 15 major markets in Canada, comparing them with the benchmark home price in each city.

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“We calculated what the maximum mortgage amount would be for somebody who has a median income in that city,” says Penelope Graham, managing editor for Zoocasa.com.

“Then we compared that maximum mortgage amount to the benchmark home price in that city to see if it would be sufficiently large enough to purchase.”

Overall, eight cities were deemed affordable, meaning individuals would qualify for a mortgage covering most of the cost and be able to save for a down payment in less than a decade. Regina was deemed most affordable, followed by Saskatoon, Winnipeg, Halifax-Dartmouth and Edmonton.

The capital city ranked just ahead of Calgary. Edmonton’s benchmark price is $321,300 with a median income of $94,447.