Statistics and Economic Profile

Red Deer is the third largest city in Alberta, located 90 minutes between Calgary and Edmonton along one of the busiest highways in Alberta. Red Deer offers a competitive business environment, including no business tax (over and above property taxes), no capital tax, no machinery and equipment tax, and no payroll tax. The general Alberta corporate income tax rate is eight per cent (8%), with a small business income tax rate of two per cent (2%).

Population

Red Deer is currently home to 100,844 residents, an increase of 0.4 per cent (0.4%), from 20211.

The average age of residents is 39.41.

Sex  Mean   Mode  Median
Female 40.45 36 40
Male 38.46 36.37 38
Other 34.07 17 31
Overall 39.48 36 39

Mean: average age
Mode: the most frequently occurring age
Median: the age number is the exact middle: there are equal counts above and below the median 

Years Population
0-14 18,370
15-29 18,725
30-44 22,920
45-59 19,050
60-74 9,195
75+ 5,995
Unavailable 6,589

Housing 

In 2020, Red Deer had a total number of 43,404 dwellings, with an occupancy rate of 93 per cent (93%), and a population density of 966.5 people per sq km.1

Median Household Income 

In Red Deer, the median2 family income after tax in 2020 was $91,000.  

Median Family Income, after tax, 2020  
Red Deer $91,000
Lethbridge $90,000
Edmonton $97,000
Calgary $102,000
Grande Prairie $102,000
Alberta $99,000
Canada $91,000

1Statistics Canada 2021 Census data

2Definition: The median income of families, after tax. Half of families have income above this amount while half have income below this amount.

Employment

Labour Force Data for Red Deer and the Region is available in the Regional Labour Force Profile for Central Alberta March 2019: Regional Labour Force Profile (pdf) . 

Unemployment Rates3

In 2020 and 2021, pandemic-related disruptions led to an underutilized labour force in terms of reduced participation rates and hours worked. Red Deer's unemployment rate has historically remained below the provincial average until these most recent two years.

Alberta   2020     2021    2022 
Population 1.5 1.0 2.1
Labour Force -1.9 2.0 1.8
Employment -6.6 5.1 5.1
Unemployment Rate     11.4 8.7 5.8
Red Deer   2020     2021    2022 
Population 1.2 0.8 1.8
Labour Force -1.9 2.2 -3.7
Employment -6.7 5.1 -0.7
Unemployment Rate     11.6 9.0 6.2
 
3Government of Alberta Labour Market Notes January 2023

Education

Red Deer Polytechnic has been proudly serving their students and community in 1964 as Red Deer College. As of July 2021, their institution name is now Red Deer Polytechnic. In 2018, this post-secondary institution received approval to become a degree-granting institution. Now as a polytechnic institution in central Alberta, they will continue to offer the same breadth of credentials and mix of programs in a variety of subject areas that we previously offered, including apprenticeships, certificates, degrees, micro-credentials and degrees.

Economy

Alberta’s real gross domestic product (GDP) is expected to expand 2.8% this year and lead the country. Real GDP in Alberta is forecast to rise to 3.0% in 2024 and average 2.9% between 2025 and 2026.4 

4Government of Alberta Budget 2023 Economic Outlook

Need more Information?

The Investment Opportunity Engine provides additional industry-specific information on demographics, customer research, workforce and more.