Curious about buying real estate in Cochrane Alberta? Cochrane is situated between Calgary and the Rockies, and is actually one of the key markets I serve! I have helped many families relocate to Cochrane from Canmore, Banff, and elsewhere in Canada.
What makes Cochrane a great place to live or own an investment property, though? Today, let’s explore some of the things you should be looking for when you’re considering a purchase in this wonderful Alberta community. As always, feel free to reach out to me directly if you have questions about Cochrane, Alberta, living here, investing here or moving here. No question is too small and I’m always happy to help!
You only have to take one look at Cochrane to understand why this community is growing fast! Situated around the stunning Bow River, this Bow Valley town is styled as “How the West is Now.” Cochrane gazes across the foothills to the Canadian Rockies, with many homes offering glowing sunset views of snow-dusted peaks, forests and rolling hills.
In fact, Cochrane is one of the fastest growing communities in Canada. Cochrane was the 11th fastest growing municipality in Canada, and the #1 fastest growing community in Alberta. The population of Cochrane expanded 24.5% between 2016 and 2021, growing from 25,853 to 32,199 residents. Wow!
As communities grow, this tends to put upward pressure on home prices. While Cochrane has seen home prices rise, a steady input of newly-built supply ensures homes are plentiful and the municipality keeps growing at a reasonable pace.
So where are all of those new people living?! In everyone’s favourite style of home – single-family detached houses! Cochrane is home to beautifully laid-out, sweeping neighbourhoods of winding streets of houses. While there are some condo and semi-detached properties, the vast majority of homes here are 2-5 bedroom, detached single-family homes with garages and yards.
This is one of the bigger draws for people coming from communities like Canmore & Banff, Toronto, Montreal or Vancouver. We’ve all seen the headlines for places like Toronto and Vancouver – where homes have become unattainable to anyone except the elite as price tags soar into the millions.
Luckily for new homeowners and younger families, detached homes in Cochrane are typically priced in the $400K-$700K range, and options abound. Thats refreshing!
With a short commute to for work, and a 30-40 minute drive to the mountains for play, it’s a no-brainer in terms of location.
The City of Calgary is just 18km away, and can be accessed by the Highway 1A or the TransCanada. Calgary is an economic powerhouse, boasting the highest concentration of company head offices in Canada. Tech workers are also flocking to the city – Calgary is experiencing the highest growth in tech workforce for North America, at 2.2%.
Cochrane is less than one hour to Banff National Park. This is the”gateway” to the Canadian Mountain National Parks, including Jasper, Yoho, Kootenay, Glacier and Revelstoke. Southern Alberta also holds the stunning Waterton National Park, plus crossings to Montana and the Parks of the Western U.S. If you’re interested in road-tripping, camping, hiking and skiing – this is a perfect place to be!
Cochrane is primarily made up of young families with children. In 2019, over 30% of Cochrane’s population was under age 18. Taking one walk into stores or restaurants and you’ll see happy families doting children around in wagons and strollers. The median age in Cochrane in 2021 was 39.
This has a positive effect on real estate in the area. Young families are more likely to stay in their homes for longer, keeping sales in neighbourhoods low/steady over decades and keeping prices buoyant. Younger families are also more likely to invest in their properties, upgrading and maintaining them at a high standard.
The majority of households in Cochrane report a household income above $100,000, while the national median is ~$70,000. 3800 households in Cochrane reported a household income over $150,000 in 2022. Its great to see that most households in Cochrane are financially well-positioned.
Choosing to buy a property anywhere is an important decision, and you should always consult with an expert before making any moves. If you’re looking for a newer detached home in one of the fastest growing communities in Canada, Cochrane Alberta might be an ideal place for your family. Personally, I’ve always found my clients who have made the move to Cochrane rave about how much they love it! This is a safe community with so much to offer – and room to grow!
As always, I’m here via text, phone or email if you’d like to connect and learn more about real estate in Cochrane. No question is too small, and I’m happy to help! Cheers.
Feel free to call, text, or email Dan today for no-pressure advice,
tips and insights into the Canmore & Banff real estate market.