February 2025 - Updated Monthly
FMWB Economic Dashboard
Fort McMurray Wood Buffalo has the energy to power Canada's economy. Gain insight on the local picture with these key indicators.
It’s time to start building homes again. There is so much data that points to a strengthening local economy – new residents, increased home sales, businesses opening, and exciting investments. We’ve heard from real estate agents that demand is there for new homes. Now is the time to get permits and plans ready for 2025 construction.
Lisa Sweet | Interim CEO
Canada's energy centre
Oil Sands Production
More than 84% of Canada's oil production in 2024 came from the oil sands. Total production was almost 1.2 billion barrels. FMWB has the production capacity and the reserves for decades of reliable energy production.
December avg daily production
3.6 million barrels
Year-over-year change
1.0%
Wood Buffalo - Cold Lake Labour Force
Workforce Update
Regional unemployment has dropped from summer peaks but remains higher than numbers from the beginning of 2024. January 2025 data
Participation
71.2%
Employment
67.0%
Unemployment
5.9%
An affordable community
Real Estate Market
A jump in condo purchases contributed to a 40% year-over-year increase in home sales in January. Even though condo sales pushed the total average residential price down, detached homes had a slight increase in average prices at $433,540. January 2025 data
Year-to-date average residential price
$331,588
Year-over-year increase in home sales
40.0%
Nation-leading affordability
Rental report
Rents dropped nationally to an 18-month low. FMWB remains the most affordable among Canada's 35 largest rental markets. February 2025 report
Average 1BR rent
$1,211
Average 2BR rent
$1,438
Fort McMurray International Airport
Passenger + Flight Info
Fort McMurray International Airport announced expanded flight frequency to Edmonton, Calgary, and Toronto last month. Quick and efficient connections across Canada and around the world. January 2025 data
Total passengers
26,824
Aircraft movements
2,145
Infrastructure to grow
Traffic Counts
Highway 63 is a high-quality twinned route and the region's principal roadway. This vehicle count is for northbound and southbound traffic in control section 10, immediately south of Fort McMurray. December 2024 data
Average daily vehicles
5,523
Welcoming the world
Hotel Occupancy
December is a soft month for occupancy across Alberta, with and average provincial occupancy rate of 46%. December 2024 data
Average occupancy
32%
