Fort McMurray

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Real Estate in Fort McMurray is only affordable if your income is over $100,000 per year, and then it can even be hard to find decent accommodations. Single family homes will not be found at less than $500,000 and condos and mobile homes start around $300,000. In the more upscale areas of Fort McMurray, such as Timberlea and Thickwood Heights, a newer home will be listed at over $700,000. Prices in this area are abnormally high because of the energy boom in Alberta, and more specifically the oil sands projects north or Fort McMurray. Demand for workers in the area has also pushed the price of rent to astronomic levels. The cost to rent a room, just a place to sleep in a house, is about $800 to $1000 per month.

Fort McMurray has a population of around 53,000, but it is estimated that between 15,000 and 20,000 workers either live in work camps, or migrate seasonally to work in the area. This huge surge of people puts strain on the community’s infrastructure and social programs. Fort McMurray is not actually a city. The correct name, as defined by the Government of Canada, is Wood Buffalo Regional Municipality. Major economic forces in the area are derived from the massive energy boom, also known as the oil sands, taking place in northern Alberta. Players in the colossal oil sands project include Suncor, Syncrude, Shell Canada, Nexen, Total, Canadian Natural, and Imperial Oil. Fort McMurray has a very cold climate compared to more settled areas of Canada such as Toronto or even Calgary. With most of the regions efforts committed to drawing oil from the ground, post secondary institutions are sparse. Wood Buffalo has Keyano College to serve as a technical institute in the area.

Fort McMurray is 441 kilometres, or 5 hours from Edmonton, 271 kilometres, or about 18 hours from Fort Smith on the Alberta - Northwest Territories border, and 1054 kilometres, or about 11 and a half hours, from Coutts on the Alberta - Montana border. Fort McMurray is basically in the centre of Canada, the furthest distance from the oceans and Great Lakes.

View a Government of Canada Oil Sands Report.

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Information and Statistics courtesy of Wikipedia and StatsCan.