With so much work available in Fort McMurray the population has doubled, from 34,000 to 64,000 in the years since 1996. This has had a major affect on the price of housing. If you've lived or owned property in the area since before that then the price increases are welcomed. However, trying to buy into the market now can prove to be a daunting task.
The average price of a single family home as of November 2006 was placed at approximately Can$484,000. Renting can also be an expensive venture with prices currently hovering around the $1,400 per month mark for a 2 bedroom apartment.