Apartments for rent Fort McMurray, AB
Located in northern Alberta, Fort McMurray is the heart and soul of Alberta’s billion-dollar energy sector. The most major city in the regional municipality of Wood Buffalo, this city is home to thousands and is spread across approximately 25 square miles. Formerly a city all its own, or Fort Mac to locals, amalgamated with an improvement district in the spring of 1995 and officially created the Municipality of Wood Buffalo the following year.
For many years, this city has played a significant role in Canada’s petroleum industry. From the first oil extractions in the 1930s to now becoming one of the world’s largest petroleum centers, and has become a point of global focus. The dependence the community places on volatile oil markets has hurt the region many times in the past as boom and bust cycles have led to massive layoffs after prolonged periods of prosperity. The uncertainty of job security discourages some from moving to the area.
Fort McMurray rentals and prices are also heavily influenced by the oil and gas industry. When times are good and residents are earning exceptionally high incomes vacancy rates are nearly zero while monthly rents skyrocket. Despite its rugged, cold and unforgiving terrain and climate, the city consistently ranks among the most expensive areas to live in Canada. The trade-off is incomes earned by those in the oil and gas industry exceptionally high and thereby balancing the cost of living.
Cost of living
Apartment Rental Statistics Fort McMurray, AB
Renting tips & advice
Look For The Right Home
Searching through listings can be a daunting task, especially for someone who isn’t familiar with the area. Best advice is to set a budget that you can afford and look for locations that are near your job site. If you’re going to be working on one of the many oil fields, call your hiring manager and ask them to recommend a neighborhood for you to focus on. With your budget in mind and an area to focus your attention, consider which features and amenities are most important.
Which Features And Amenities Are Most Important
Before starting your search something for rent, think about what’s most important to you and your life. For instance, do you need parking? Will you be living with pets? Is a spare bedroom or office space necessary? Asking yourself questions like these will help you better understand what’s most important to you and your home search. Finding that matches your wish list is doable in every city, but understanding that your wish list may need to be flexible will certainly help.
Do Your Research
Speak with area residents, existing tenants and read online reviews. Check with the police and ask if the area is known as a safe one. Understand what comparable properties are renting for and if the ask is within reason each given property. Knowing as much about location as you can before you sign a lease agreement will have you renting the best qualified place possible and one that you’re sure to love. Apartments for rent are often reviewed online, search for reviews before making the final decision to sign a lease.