The City of Cold Lake

Cold Lake city is in the northeastern part of Alberta and gets its name from the nearby Cold Lake. This Lakeland district is near the Saskatchewan and Alberta border and is surrounded by farmland. As per the 2016 census, the population was estimated at 14961 in around 5597 dwellings. The economy of Cold Lake is closely linked to the military base, exploration of oil and gas, and its production. The Cold Lake Oil Sands and the Athabasca Oil Sands project underway in Fort McMurray have led to rapid economic growth in the region.

Each year the military forces from all over the globe come to Cold Lake for Exercise Maple Flag which is a training exercise for NATO pilots and staff in open space. This takes place for four to six weeks in May every year. The annual event contributes significant capital to the tourism and hospitality industries.

Who Has The Cheapest Home Insurance Quotes In Cold Lake

Cost Of Home Insurance In Cold Lake

The above table compares the cost of home insurance in Cold Lake by major insurance providers. The highest quote for home insurance was by SGI Canada at an average annual cost of $2378. This was followed by the home insurance quote by TD Insurance at almost the same price, just $3 less. Squareone Insurance had the lowest quote at an annual price of $1269 which was $1109 less than SGI, at a difference of 46%.

Moving To Cold Lake? Things You Need To Know

Cold Lake is a growing community in the Lakeland district and has the largest base for fighter jets in Canada. There are many options for recreational programs and the retail trade is booming. The oil industry is also very successful and you may be able to get housing at affordable rates. Young families may also take advantage of low provincial taxes. The public transit is offered free of cost by Cold Lake Transit and since it’s a small city, commuting is less. You may also walk or bike as well as drive to work. The RCMP detachment in Cold Lake takes care of law and order.

Things to do in Cold Lake

The City of Cold Lake has many parks, trails, open systems, sports and recreation facilities. If you are an outdoor person you may enjoy Hockey, Lacrosse, Volleyball, Football, Basketball, Soccer, Baseball, Rugby, Hapkido, and Tae Kwon Do. Figure Skating, Downhill Skiing, Dancing, Mixed Martial Arts, Roller Derby, Swimming, Powerlifting, Gymnastics and Disc Golf, etc.  You may also love fishing in Wolf Lake and Cold Lake or at the Beaver River. There are 2 parks, the Meadow Lake Provincial Park and the Cold Lake Provincial Park.

Neighborhoods of Cold Lake

In Cold Lake, you may find a selection of housing choices. These include houses, apartments, duplexes, trailers, townhomes, detached homes, etc. You also have the RHU or Residential Housing Unit to choose from for accommodation. Some of the major neighborhoods of Cold Lake are Mobile Village, Brady Heights, Horseshoe Bay Estates, Red Fox Estates, Lefebvre Heights, Nelson Heights, etc.

Average Cost Of Living In Cold Lake

The average cost of living in Cold Lake is around $2800 for a small family excluding rent. If you wish to rent an apartment with just 1 bedroom, it may cost you around $885 per month. For a larger apartment with 3 bedrooms, the rent may increase to around $1110. In Cold Lake, the average median household income is around $75,800.

Employment Options in Cold Lake

In Cold Lake, one of the major employers in the Canadian 4 wing Forces Base. There are many shops and services in retail and sales sectors as well as business, health, management, science, and trade. Some of the other employers in Cold Lake are the Lakeland Credit Union, Sears, Canadian Tire, Sport Check, Mark’s, Walmart, Lakeland Asphalt Ltd, etc.

Average Cold Lake House Price

The average price of a single house in Cold Lake is around $389,000.

Detached

You may pay around $375406 for a detached house in Cold Lake.

Semi-Detached

The price of a semi-detached house is around $309,950 in Cold Lake.

Townhouse

A townhouse in Cold Lake may cost around $249,920.

Condo

You may pay around $189,800 for a condo in Cold Lake.

Average Cold Lake Property Tax

The property assessors estimate the market value of properties in Cold Lake and submit them to the city and this affects the property taxes each year. In Cold Lake, the property taxes consist of a provincial levy for education, a municipal levy, and a levy for senior housing. The City of Cold Lake also collects taxes for the Lakeland Lodge and Housing Authority. On certain properties, there may be an additional tax levy subject to local improvement projects.

Average Cold Lake Salary

Average Cold Lake Hydro Bill

The average hydro bill for a small family in Cold Lake is around $110 – $145 per month as per consumption. The city’s utility department takes care of billing and connections for water and wastewater. They also manage the billing of recycling and garbage pickup.

Average Cold Lake Winter & Summer Temperature

Cold Lake has a moderate summer temperature and lower temperatures in winter. In summer, temperatures could rise to 22° C and there is a lot of rainfall too. The average precipitation annually is 426.6 mm.  The winter temperatures may range from -11° C to -20° C.

Average Cold Lake Daycare Costs

You may find a mix of part-time, full-time licensed, and casual child care centers in Cold Lake. The average cost of daycare in Cold Lake may range from $11 to $17 per hour for full-time licensed daycare. You may also apply for a subsidy by visiting the provincial website and using the tool.

Cold Lake Average Grocery Bill

In Cold Lake, the average bill for groceries for a small family is around $490 to $650 per month as per consumption. If you shop for groceries at the small stores that may provide fresh and organic then it might be a bit expensive. Or, you may also shop at Walmart to save some money if you have a big family and your budget.