With Greater Calgary’s median home sale price in 2025 standing at $578,000, it’s reasonable to think that $500,000 would be a solid budget for a first-time purchase or perhaps a move-up home in the region.
But what exactly does $500K buy you? Are we talking condos only, or townhouses? And are there any areas where $500K will stretch to a detached house, or a home with four bedrooms?
To find the answers to these questions, we analyzed current listings in Calgary’s inner city, suburban quadrants, and further-afield municipalities. We profiled typical $500K homes and found current listing examples in each area, so you can see how much bang you can get for your buck.
Raj Sandhu, a leading HouseSigma agent in Calgary, said, “In today’s Calgary market, $500,000 is a true transition price point. It can mean a well-located condo, a modern townhouse, or a modest detached home, depending entirely on where buyers choose to compromise on space, age, or proximity to the city. Either way, it’s a trade-off.”
Check out the regional property profiles and sample listings below, and let us know if the results surprised you!
Inner-City Calgary
Inner-city condos at $500K are typically two-bedroom units, 900-1,100 square feet, mostly built in the late 2000s to mid-2010s. Beltline dominates inventory due to the condo construction boom in the area. Expect to pay $450-$550/sqft — you’re paying for walkability and urban lifestyle.
Typical listing: Unit 2305 – 433 11 Avenue SE
A two-bedroom, two-bathroom unit in the Arriva building, this condo is located near the future Flames arena and Calgary’s entertainment district. It is 1,018 square feet and was built in 2008. It has a small balcony with an epic city view. The building offers a 24-hour concierge/security, central air conditioning, guest suites, an owner’s lounge, and pet-friendly living.
Calgary North-East
Typical for the North-East quadrant at around $500,000 are smaller two-bedroom homes from the 1980s, usually bungalows, and generally under 1,000 square feet. Note the higher price-per-square-foot ($530-$600) than inner-city condos, because you’re paying for land and a detached structure, not just building size.
Typical listing: 139 Castledale Way NE
This is a detached home located on a quiet street in Castleridge. It is a split-level bungalow with an open-concept layout, three bedrooms, and two bathrooms. It was built in 1987 and is a modest 847 square feet. The lower level has a family room with a wood-burning fireplace, the third bedroom, a full bathroom, and a dedicated laundry area.
Calgary South-East
The South East gives buyers with $500K two distinct paths — newer townhouses in communities like McKenzie Towne, Auburn Bay, and Cranston with 1,100-1,300 square feet of living space, or older, smaller, but detached homes in established areas like Ogden, Erin Woods, and Forest Lawn. Our representative listing is typical of the former.
Typical listing: 63 Elgin Meadows Park SE
This bright townhome, which was built in 2012, has 1,283 square feet of living space on two finished storeys, plus there’s an unfinished basement. The kitchen has granite countertops, stainless steel appliances, a corner pantry, and a custom coffee bar. The home offers dual primary bedrooms, both with ensuite bathrooms, as well as a third bathroom, and a den. It is also a stone’s throw from the Nature Reserve.
Calgary North-West
North West townhouses at this price point tend to be slightly larger (1,350-1,600 square feet) with improved value at typically $300-$370/sqft. Neighbourhoods such as Sage Hill, Evanston, and Royal Oak deliver the best examples of the typical NW $500K purchase — two-bed units around 10-20 years old.
Typical listing: 156 Royal Manor NW
This 1,423-square-foot, 22-year-old townhome is in Royal Oak, close to the C-Train station and local amenities. The main level has open-concept living, along with a den and powder room, while upstairs there is a primary bedroom with ensuite, another bedroom, family bathroom, and a media area that could be converted to a third bedroom.
Calgary South-West
For $500K in the South West, townhouses cluster around 1,250-1,400 square feet, often newer construction. Shawnee Slopes and Springbank Hill offer good value, while Aspen Woods commands a premium. Expect to pay $350-$420/sqft.
Typical listing: 305 Shawnee Square SW
This new townhome was built in 2025, with more than 1,300 square feet of living space. It has a double attached garage, as well as dual primary bedrooms, both with en-suite bathrooms and walk-in closets. The kitchen has sleek cabinetry, white quartz countertops, and stainless steel appliances. The home has LVP flooring throughout and an upper-floor laundry.
Chestermere
Chestermere at the $500K price point offers the newest homes in the region (averaging three years old) and of course, they are almost all townhouses. But inventory at this budget is limited, with only 6% of the current Chestermere market accessible for around $500K.
Typical listing: 3586 Chestermere Boulevard
This freehold, street-facing townhome is located in Phase 2 of the Clearwater Park community in Chestermere, and was completed in 2025. It has three bedrooms, three bathrooms, and an upgraded appliance package in the open-plan kitchen. It is located near Clearwater Park’s resident-exclusive community centre and is close to retail stores.
Airdrie
For a $500K budget, Airdrie offers the most inventory outside of Calgary proper, with 14.8% of the current market accessible at this price point. The homes are typically newer but not brand-new townhouses, at around 10 to 15 years old.
Typical listing: 1012 Windsong Drive SW
This 1,500-square-foot, end-of-row townhome was built in 2011, but has modern updates and is move-in-ready. The upper level has new laminate flooring and updated lighting, and there’s a brand-new washer and dryer set. Upstairs, in addition to two bedrooms, there is a spacious media area that leads to a balcony. There’s also a finished basement that is being used as a gym.
Cochrane
For around $500K in Cochrane, nine out of 10 listings are townhouses, but newer at an average of eight years old — and, of course, you have that scenic mountain-adjacent location.
Typical listing: 165 Sundown Road, Cochrane
This is a nine-year-old, three-bed, three-bath, three-level, freehold townhome with no condo fees. The main living space is on the second floor and has a spacious kitchen with a large island, quartz countertops, and stainless steel appliances. It also features a dining area and a family room that leads out to a deck with a gas line for a barbecue.
Strathmore
For this smaller budget, Strathmore is one of the areas that gives you the best shot at a detached house, as 68% of $500K-ish homes are detached. However, they tend to be older and smaller. So, if you want something newer and upwards of 1,300 square feet, you might have to share a wall with a neighbour.
Typical listing: 5 Greenview Way, Strathmore
This 1,062-square-foot detached home from 1992 boasts a living room with large front window, and a kitchen with oak cabinetry, updated hardware, and newer appliances. The home has three bedrooms and a full bathroom on the main floor. The fully developed basement offers an additional bedroom, two flex spaces, and another full bathroom.
Okotoks
Okotoks is another spot where you could get a detached home for $500,000, but you might have to be lucky at that price. Across the whole Okotoks current inventory, about three-quarters of homes are detached, but the homes are older and, more importantly, less than 6% of the market is accessible at the $500K price point. But some homes are there, if you look for them.
Typical listing: 25 Westfall Drive, Okotoks
This pretty, four-bed, two-bath home has 1,343 square feet of living space, located on a corner lot in the Westridge community in Okotoks. The main level of the home features a bright, open-concept dining and kitchen space with an abundance of natural light, a semi-open-plan living area, and three bedrooms. There’s also a one-bedroom basement with a separate entrance.
High River
High River offers the highest proportion of detached homes among current listings (79%), but also the oldest homes (42 years old on average) and is further away from Calgary. For those who don’t need to commute into the city, it’s a good option for a family home at around $500,000.
Typical listing: 406 8 Avenue SE, High River
This 1940-built bungalow has been stylishly renovated and offers 1,352 square feet of finished living space with four bedrooms and two bathrooms. The main level features two bedrooms, an upgraded bathroom, a dining room, and a kitchen with brand-new cabinets and hardware, upgraded appliances, and a walk-in pantry. The basement has two bedrooms and a bathroom, as well as an unfinished area with roughed-in plumbing that could be an additional suite, but would need the appropriate building permits.
Olds
Olds offers the best value overall, with 78% of current listings being detached homes, but it’s nearly an hour’s drive from Calgary. If it’s more space and less bustle you’re looking for, Olds can offer some great properties for around $500,000.
Typical listing: 5412 61 Avenue, Olds
This detached home has two bedrooms on the main floor, and two additional bedrooms downstairs. The semi-open-plan main living space has a vaulted ceiling, and the basement adds a recreation room. The well-proportioned primary bedroom has a walk-in closet and a three-piece ensuite. There’s also a large garage, and it’s all on a generous corner lot.
Canmore
Here’s a curveball. Canmore is both a geographical and market-condition outlier among this group, but it’s still within HouseSigma’s Greater Calgary region, so we’re including it. Of course, $500K gets you much less in this desirable mountain resort town — typically a small condo — and only 2% of current inventory is around this price point. But for those who have $500K to spend on a unit, whether to live in or to rent out (subject to zoning) for a high price while living elsewhere, there are a handful available.
Typical listing: Unit 326 – 808 Spring Creek Drive, Canmore
This is a 10-year-old, 567-square-foot condo unit in an attractive development, with a balcony and peek-a-boo mountain views. The included building amenities include a pool, a craft room, fitness rooms, and a theatre, there are on-site services on offer such as weekly housekeeping and emergency call buttons. Residents can also purchase additional meals, parking, and storage, and the development also has a full-service salon and a pub.
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