Statistics and Economic Profile
A population of 100,418 (2016 Federal Census Results, February 8, 2017) makes Red Deer the third largest city in Alberta and sixth largest in Western Canada. In an economic study (Urbanics Consultants Ltd, Economic Development Strategy 2013), low, medium and high-growth scenarios were developed for population projections.
Given that the medium-growth scenario is most likely, the following projections are based on this scenario. Over the next 30 years, Red Deer's working-age population will nearly double from 66,237 to over 112,000 workers. Of course, the populations of under 15 and over 65 will steadily increase as well. The share of the working-age cohort (15-64 years) is expected to decline from 71 per cent in 2011 to 64 per cent in 2041, despite the doubling of workers. Red Deer boasts a strong labour force with over 54 per cent possessing a post secondary certificate, diploma or degree. This educated labour force, which is constantly being replenished by Red Deer College, provides a strong local hiring pool for any business to draw from. With close to 5,000 businesses operating in many industries in the city and many more operating in Red Deer County, Red Deer's economy is diverse and resilient to the booms and busts of the rest of the province.
Median Household Income
On average, Red Deer families make $93,098 a year, after tax. This is just above the provincial average of $92,300. The average house price (3 bedroom) in Red Deer is $349,900 which makes Red Deer a very affordable place to make your home compared to the provincial average of $395,694.
The following numbers are from Statistics Canada's 2010 National Household Survey.
|All Economic Families Median After-Tax Income|