True monthly cost of owning in Calgary (embed)

True monthly cost of owning in Calgary

Mortgage, CMHC, 2026 property tax, condo fee, City utilities, energy, insurance and upkeep, itemized.

Start from:

Home type

Seed from a Calgary community

2026 median assessed value, detached: $718,500 (our calculation from City of Calgary open data, completed homes)

Purchase price

Down payment

10.0% of the price. Minimum for this price: $45,600 (5% to $500,000, 10% above, 20% at $1.5M).

Interest rate

Example: Bank of Canada average on new insured 5-year fixed mortgages, 4.12% (2026-08). Use your own quote.

Amortization

30 years with less than 20% down only for first-time buyers or new builds (since Dec 15, 2024).

First-time buyer

Brand-new home

Tax, utilities, insurance, upkeep

Assessed value for property tax

Leave at 0 to use the price. Tax = assessment × 0.66499% (Calgary 2026).

Water use (m³ a month)

City water, wastewater, stormwater and carts: $140/month. The City's typical bill uses 19 m³.

Electricity (kWh a month)

About $158/month on the Rate of Last Resort with ENMAX delivery and GST. Alberta's typical household: 600 kWh.

Natural gas (GJ a month, yearly average)

About $96/month at the November 2026 regulated price with ATCO delivery. Typical: 10 GJ; winter months run far higher.

Home insurance (monthly)

Example only. Get a quote; condo unit-owner policies cost far less than a house policy.

Upkeep reserve (% of price a year)

Rule of thumb, not a rule: about 1% for a house, less for a condo unit.

Closing day

Possession date

Sets the property tax adjustment. Calgary's tax year is January to December; bills are due June 30.

Lawyer, title insurance, inspection (your estimate)

Our example: $1,500 lawyer + $300 title insurance + $550 inspection. Get quotes.

All-in monthly cost of owning$5,012$1,282 of it is principal you keep; the true cost is $3,729 a month.

Mortgage interest$2,206

Mortgage principal (equity)$1,282

Property tax$391

Water, sewer, drainage and carts$140

Electricity and natural gas$254

Home insurance$150

Upkeep reserve$588

All-in, per month$5,012

Interest and principal are first-year averages. Bands are coloured by cost; the striped band is equity.

Mortgage payment: $3,489; on $655,097 incl. CMHC
Property tax: $4,695; a year (2026 rate)
Cash to close: $74,021; down payment + closing
Income lenders want: $147,126; at the 6.12% stress-test rate

Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.

All-in about $5,012 a month; $74,021 cash to close.

What is driving this result

Mortgage interest is the biggest line at 44% of the monthly total.
Everything other than the mortgage adds $1,523 a month — 30% of what owning costs.
CMHC insurance adds $19,697 to the loan (3.10%); Alberta charges no sales tax on it.

Assumptions & sources

Assumptions

Payments use semi-annual compounding (Canadian fixed-rate convention; the Interest Act requires a yearly or half-yearly rate). Source: Justice Laws, Interest Act, R.S.C. 1985, c. I-15, s. 6. Checked November 1, 2026.
Property tax = assessed value × 0.66499% (0.38906% municipal + 0.27593% provincial), City of Calgary 2026. Source: City of Calgary, How your property tax bill is calculated (2026 residential tax rate, Bylaw 9M2026), effective January 1, 2026. Checked November 1, 2026.
CMHC premium from CMHC's table, added to the loan; +0.20 points for 30-year amortization. Alberta charges no sales tax on the premium. Source: CMHC, Mortgage loan insurance cost (premium table). Checked November 1, 2026.
Land Titles: $50 + $5 per $5,000 (or part) for the transfer and again for the mortgage. Source: Government of Alberta, Land Titles and Surveys common documents fee schedule, effective October 1, 2026. Checked November 1, 2026.
City utilities from the 2026 water, wastewater, stormwater and cart rates; energy from the Rate of Last Resort, ENMAX and ATCO tariffs, the City's fees and GST. Source: City of Calgary, Residential water rates and billing (2026), effective January 1, 2026. Checked November 1, 2026. Source: Utilities Consumer Advocate (Alberta), Default rates: Rate of Last Resort electricity and regulated gas, effective November 1, 2026. Checked November 1, 2026.
The example rate is the Bank of Canada's average effective rate on new insured 5-year fixed mortgages (4.12%, 2026-08-01). Source: Bank of Canada, Effective rate on new insured fixed mortgages, 5 years and over (series V122667780), effective August 1, 2026. Checked November 1, 2026.
Insurance, upkeep and the lawyer/inspection total are examples, not sourced averages. Replace them with your quotes.

Calgary true monthly cost of owning · Powered by CalgaryMortgageCalculator.ca · MITEY