Frank, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Frank, Alberta, is experiencing a period of gradual growth. The median house price currently stands at $485,000, which reflects a year-over-year increase of 3.2%. This trend indicates a stable market that is slowly appreciating, suggesting consistent demand and a balanced supply of homes. In contrast, the median apartment price is $295,000, with a slightly lower year-over-year increase of 1.9%. The apartment market’s softer growth rate may reflect a surplus of inventory or lesser demand compared to houses.
Investment Opportunities and Potential
The steady growth in house prices in Frank suggests that this market could offer solid investment opportunities for those looking to acquire residential properties. Given the 3.2% increase in house prices, investing in detached homes might yield favorable returns as the market shows signs of continued health. The apartment sector, despite its lower growth rate at 1.9%, should not be overlooked either; it presents an entry point for investors seeking more affordable options with potential for rental income.
The population of Frank has grown by 2.7%, which may lead to increased housing demand. This demographic trend can be particularly beneficial for investors targeting long-term capital appreciation and rental markets catering to new residents seeking accommodation.
Future Market Outlook
Looking ahead, Frank’s real estate market appears to be positioned for sustained growth. The positive population growth rate of 2.7% is likely to continue fueling demand for housing in both the private sale and rental sectors. Assuming economic conditions remain stable and interest rates are managed effectively by policymakers, the region’s real estate market should maintain its upward trajectory.
Careful monitoring of local economic factors such as employment rates, infrastructure development, and any changes in provincial or federal housing policies will be essential for investors aiming to capitalize on Frank’s future market movements. Overall, the current trends and demographic data suggest that Frank holds promise for both short-term investors seeking flips and renovations as well as long-term investors focused on rentals or property appreciation.
