As Calgary’s urban core continues to see fierce competition and soaring prices, investors are increasingly turning their attention to the communities on its doorstep. Four such markets – Airdrie, Cochrane, Chestermere, and Okotoks – are emerging as hidden gems, each with its own unique appeal and promising growth outlook. With strong population growth, constrained inventory, and evolving local economies, these communities offer diversified opportunities for both residential resale and rental investments.
Rise of Secondary Markets
As Jesse Davies, leader of the Jesse Davies Team with Century 21 notes, “Investors in 2025 are increasingly turning to Canada’s secondary markets. These smaller cities and towns just beyond major urban centres help them capture stronger yields, diversify geographically, and avoid the steep entry prices seen in core markets.”
Alberta led the country in net interprovincial migration in 2024. This is resulting in increased numbers spilling into adjacent communities, where more affordable land and housing prices create opportunities for both rental and resale investments.
Secondary markets also offer geographic diversification benefits. By spreading investments across multiple fast‑growing corridors, investors reduce exposure to policy shifts or demand shocks in any single metro. Towns like Airdrie, Cochrane, Chestermere, and Okotoks provide excellent opportunities to implement this strategy, combining commuter access to Calgary’s employment base along with unique local amenities such as lakeside living, mountain‑view recreation, and others, for sustained demand. For a balanced portfolio seeking both cash flow and long‑term appreciation, secondary markets have become essential components rather than niche plays, making now the ideal time to explore these hidden gems.
Airdrie: A Growing Suburban Powerhouse
Just north of Calgary, Airdrie is known for its energetic local culture, close-knit community, and distinctive identity. Over recent years, the city has transformed from a bedroom community into an investment hotspot, driven by a steady influx of new residents and increased economic activity. In January 2025, the CREB reported a benchmark price of approximately $537,300 with an inventory that has improved compared to previous years, showing around 2.63 months of supply.
Inventory Improvement
Jesse Davies observes, “After years of extremely tight supply, Airdrie’s market is beginning to show signs of balance. The recent rise in new listings has increased the inventory, offering more entry points for investors.”
Population Growth
With a rising population, the demand for housing continues to grow. Airdrie’s population rose 6.39% in 2024 compared to the previous year. By 2025, the city is projected to surpass 91,000 residents, with steady growth expected to push the population to 132,120 by 2033. This demographic shift is expected to sustain both rental demand and long-term appreciation.
Proximity to Calgary
Airdrie is just a short drive away from Calgary’s urban amenities, providing a more affordable alternative to the city while still being accessible to top employment centers and cultural attractions.
Davies comments, “For investors, these factors create an opportunity to acquire properties at a reasonable price with strong potential for future capital gains and healthy rental yields.”
Cochrane: Scenic Charm Meets Steady Growth
Enjoying the beautiful backdrop of the Rocky Mountains, Cochrane offers stunning natural beauty and small‑town charm. It attracts buyers looking for a lifestyle that blends outdoor recreation with easy access to Calgary. Cochrane’s benchmark price has been trending upward; the Calgary Real Estate Board (CREB) reported that for January 2025, the detached‑home benchmark for Cochrane is $658,300, with a rise of 4.3% year‑over‑year.
Quality of Life
With abundant outdoor activities such as hiking, skiing, fishing, and biking, Cochrane appeals to families, retirees, and professionals who value a balance between nature and modern living. This lifestyle appeal translates into strong buyer and tenant interest.
Tight Inventory
Although new listings have begun to rise, the supply remains relatively low. With about 2.6 months of supply in early 2025, the limited availability of homes, along with demand, continues to support price growth.
Steady Price Appreciation
The market has seen annual increases of approximately 5% to 6%, a testament to the community’s growing desirability.
Davies sums up the appeal of this untapped gem, “Cochrane not only offers a picturesque setting to ensure ongoing demand, but also a resilient market where steady price gains and low inventory levels combine to create long‑term value.”
Chestermere: Lakeside Living with High Demand
Chestermere stands out among Calgary’s surrounding communities due to its lakeside location. The town’s crown jewel, Chestermere Lake, creates an exceptional quality of life. Current market data from January 2025 suggest that Chestermere’s benchmark price is approximately $694,300, reflecting a healthy upward trend in property values.
Lakeside Lifestyle
The lake supports boating, fishing, and year-round recreational activities, significantly enhancing the lifestyle appeal of surrounding properties.
Strong Community Amenities
Chestermere has developed robust community infrastructure, including parks, shopping centers, and recreational facilities that attract families and retirees alike. This in turn supports steady demand in both resale and rental markets.
Rising Demand and Price Growth
With strong demand driving sales, property values have seen significant appreciation. Investors can benefit from a rising market fueled by limited supply and high desirability.
According to Davies, “Chestermere presents an opportunity to capture both capital growth and attractive rental returns, especially as more buyers are drawn to the lakeside charm and community spirit.”
Okotoks: A Seller’s Market with Record Price Growth
Okotoks, located to the south of Calgary, is starting to gain attention for its consistently strong price performance and highly competitive market conditions. Recent reports indicate that Okotoks’ benchmark price ended 2024 at around $612,400, reflecting an 8.5% increase over the previous year. This remarkable appreciation is primarily driven by persistently low inventory levels.
Future Development
Okotoks has strategic plans for local economic development initiatives, which are expected to attract further investment and spur job creation, which in turn supports the housing market.
Record Price Milestones
The market has repeatedly set price records, with the benchmark price in Okotoks hitting new highs multiple times in 2024. This demonstrates strong buyer demand and an investment environment that favours appreciation.
Quality and Community
Okotoks offers a charming small-town atmosphere with excellent community amenities, making it attractive to families and professionals who are willing to pay a premium for quality of life. The town’s aesthetic appeal and historical character further enhance its desirability.
“Okotoks represents a market where well-chosen properties are likely to continue appreciating due to sustained demand and a long‑standing supply crunch. Despite the fierce competition, the potential for significant capital gains makes Okotoks a compelling opportunity.”, says Davies.
Strategies for Investing in These Gems
Investors looking to diversify their portfolios can consider different strategies.
Rental Investments
In areas like Chestermere and Okotoks, where demand remains high and supply is constrained, rental properties can yield attractive returns. With strong tenant demand driven by lifestyle benefits and community appeal, these markets offer the potential for steady cash flow.
Value-Add Opportunities
In Airdrie and Cochrane, where inventory improvements are gradually easing upward price pressures, investors may find opportunities to purchase undervalued properties and renovate them cost-effectively.
Long-Term Appreciation
For those with a longer investment horizon, acquiring properties in any of these communities offers the promise of capital appreciation driven by population growth, improved infrastructure, and continued economic diversification.
Navigating Challenges and Opportunities
One common thread across all four communities is the persistent challenge of limited inventory. Even as new listings are gradually increasing, the pace of new construction and the availability of pre‑owned homes remain well below historical averages. This supports ongoing price appreciation by maintaining strong buyer competition, but can make for a challenging market to buy, and investors must be prepared for rapid transactions and potentially multiple offers.
Given that each community has its own unique dynamics, a one‑size‑fits‑all investment approach is unlikely to be effective. In this complex environment, an experienced investment realtor like Jesse Davies becomes indispensable. Davies not only helps identify suitable properties quickly but also tailors investment strategies to match each community’s specific conditions, ensuring that investments align with individual goals and market realities.
The combination of economic resilience, strong community appeal, and ongoing infrastructure improvements in these hidden gems offer significant advantages to investors, but to make the most of these opportunities while navigating challenges, having Davies, a skilled investment realtor with extensive local know-how, on your side is an added competitive advantage.