Is Slave Lake a Good Place to Live?
Based on current data, Slave Lake receives an overall livability score of 3.6 out of 5.0, earning a grade of B+. Key strengths include above-average household incomes, abundant sunshine, a low poverty rate. Areas to be aware of include above-average unemployment. Slave Lake offers a solid quality of life with a good balance of affordability, safety, and opportunity.
Economy & Jobs
The median household income in Slave Lake is $111,000, which is significantly higher than the national average — 48% above $75,149. This places Slave Lake among higher-income communities. At 9.6%, unemployment is notably high. Only 7.2% of residents live below the poverty line, well below the national rate of 12.4%. Workers commute an average of 18 minutes, shorter than most U.S. cities.
Cost of Living & Housing
The median home value in Slave Lake is $320,000, 14% above the national median. Renters pay a median of $1,430 per month, significantly above the national average of $1,163. At just 2.9x median income, home prices are very affordable relative to local earnings.
Education
12.6% of residents hold a bachelor's degree, below the national average of 33.7%. 30.6% have completed high school.
Climate & Weather
Slave Lake has a cool climate with an average annual temperature of 41°F. Winters average 20°F in January while summers reach 63°F in July. With 262 sunny days per year, residents enjoy well above the national average of sunshine. Annual precipitation totals 21.4 inches, including 26.8 inches of snow.