A recent analysis of happiness and housing affordability across Canada's major urban centres has placed Calgary in an exceptionally favourable light. The study, conducted by national real estate firm Zoocasa, demonstrates that Calgary homebuyers receive outstanding value, achieving high levels of life satisfaction without the exorbitant housing costs seen in other metropolitan areas.
Measuring Happiness Against the Price of a Home
Zoocasa's innovative report cross-referenced data from Leger’s 2025 Happy Cities Index with average residential property prices. The Happy Cities Index scores municipalities out of 100 based on resident well-being. Calgary earned an impressive happiness score of 67.4, securing the fourth-highest position nationally.
To determine the cost of this contentment, researchers divided each city's average home price by its happiness score. In Calgary, where the average home costs $567,900, each point on the happiness scale amounts to $8,425. This calculation resulted in Calgary having the fourth lowest cost per happiness point among the ten cities analyzed.
How Other Major Cities Compare
The study highlights a significant disparity between happiness rankings and the financial burden of homeownership. For instance, Mississauga, Ontario, was ranked the happiest city with a score of 70.3. However, with an average home price of approximately $969,500, the cost per happiness point soars to $13,788.
Hamilton, which ranked just above Calgary in happiness with a score of 67.5, also carries a heavier financial load. Homeowners there pay $11,161 per happiness point, based on an average home price of $753,300. Montreal, which ranked second in happiness (69.4), was the only city in the top four with a slightly better value proposition than Calgary, at $8,343 per point.
Why Calgary Strikes a Perfect Balance
According to Angela Serednicki, the author of the Zoocasa study, Calgary strikes the perfect balance between big-city opportunity and everyday livability. This sentiment is echoed by local real estate experts.
Trung Bien, a realtor with eXp Realty in Calgary, points to the city's unique advantages. He cites proximity to the mountains, chinook winds that moderate winter weather, lower taxes, and higher average wages as key factors contributing to the high quality of life. Most importantly, Bien emphasizes that affordable housing means residents are less likely to be house poor, allowing them to enjoy their earnings and the lifestyle the city offers.
The Zoocasa study ultimately illustrates that while money may not directly buy happiness, in Calgary, it certainly goes a lot further in securing a satisfying and financially sustainable life for homeowners.
