Beaumont

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Beaumont, south of Edmonton, is a vibrant community with cultural diversity and local pride. Residents enjoy parks and recreational facilities but face financial challenges including reliance on the oil and gas industry, leading to job instability. Housing affordability and high commuting costs add pressure on budgets. The community seeks debt relief while adapting to economic fluctuations and a growing young population.

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City: Beaumont
Province/Territory: Alberta (AB), Canada
Est. Population: 20,888

Overview

This vibrant community, located just south of Edmonton, boasts a rich blend of cultural diversity and a strong sense of local pride. Known for its picturesque parks and recreational facilities, it offers residents an active lifestyle with numerous walking trails, sports amenities, and community events throughout the year. The vibrant arts scene enriches local culture, with various festivals and community gatherings that celebrate the unique heritage of the area. Its proximity to Edmonton allows for easy access to metropolitan amenities while maintaining a charming small-town atmosphere, making it a desirable place for families and individuals alike.

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Financial Challenges

Residents here are tackling some unique financial challenges. One major issue is the reliance on the oil and gas industry, which can lead to economic ups and downs affecting job security and income stability. Fluctuations in oil prices can ripple through the local economy, impacting everything from small businesses to housing demand. Speaking of housing, affordability is a big concern. While real estate prices may not be as steep as in major urban centers, property taxes can be hefty due to rapidly growing residential development and limited commercial tax base, putting pressure on homeowners’ budgets.

Another sticking point is the cost of commuting. Many locals work in nearby Edmonton, meaning higher transportation costs, especially with gas prices on the rise. Public transportation options are limited, making driving a necessity rather than a choice in most cases. This can really hit the wallet, especially for families who need more than one vehicle. Moreover, as a community with a burgeoning young population, there are also challenges in terms of providing enough local employment opportunities, pushing some to seek work further afield, thereby increasing their commute-related expenses.

Areas / Neighbourhoods

• Aspen Creek
  A family-friendly neighborhood known for its modern homes and proximity to parks and schools. Aspen Creek features a mix of single-family homes and multi-family units, making it popular among young professionals and families alike.

• Beaumont Village
  The historic heart of Beaumont, this area boasts charming homes and a vibrant community atmosphere. It is close to shops, restaurants, and community events, making it a social hub for residents.

• Coloniale Estates
  An upscale neighborhood with spacious lots and executive-style homes. Coloniale Estates is popular among those looking for a quieter lifestyle while still being close to amenities and recreational facilities.

• The Lakes
  This picturesque neighborhood offers scenic views and is ideal for those who enjoy outdoor activities. With its proximity to walking trails and lakes, it attracts residents who prioritize nature and community engagement.

• Forest Heights
  Known for its tree-lined streets and large properties, Forest Heights provides a serene living environment. Families appreciate the local schools and community parks, fostering a close-knit community feel.

• Montalet
  A newer development featuring modern architecture and an array of family-oriented amenities. Montalet is sought after for its planned community layout, parks, and recreational facilities.
  
  

Top Questions

1. What are the best schools in Beaumont, Alberta?
2. What recreational activities are available in Beaumont?
3. How is the healthcare system in Beaumont?
4. What is the cost of living in Beaumont compared to nearby cities?
5. What are the housing market trends in Beaumont?
6. What events and festivals are celebrated in Beaumont?
7. How is the public transportation system in Beaumont?
   

If you have a question about debt see our debt related question or ask your own debt related question.

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Debt Data

This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.

_{The estimates above are based on the following ratios living paycheck to paycheck rate (47%), poverty rate (11.1%), delinquency rate (1.09%), insolvency rate (0.25%), consumer proposal rate (0.19%), personal bankruptcy rate (.06%) from the following sources leger360.com, statcan.gc.ca, consumer.equifax.ca and is, d-isde.canada.ca.}

Cost of Living

This table provides a breakdown of various average cost-of-living expenses in Beaumont, Canada to help understand the financial requirements for different living situations.

_{The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.}