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Housing Overview

Town of Magrath municipal mill rates for 1996 are 20.89 for Industrial/Commercial and 17.79 for Residential properties. At the end of 1996 there were 592 residences in Magrath. Two mobile home parks have been developed in Magrath which can accommodate up to 35 units. There is one Duplex property in town and only a handful of multi-family dwellings (currently two Fourplex plus a few apartments developed above commercial properties in downtown Magrath). Magrath, however, is growing.

 

1996 Assessment Summary	Land . .	Buildings . .	Total . .
Residential	5,046,230	25,825,870	30,872,100
Commercial	425,220	4,986,720	5,411,940
Industrial	44,270	1,091,870	1,136,140
Other		2,452,300	2,452,300
Total	5,515,720	34,356,760	39,872,480

Residential Pricing

Availability of residential lots for sale is reasonable. However, only a few lots are currently available directly from the Town of Magrath. Estimated purchase cost for an average home (i.e. 3 bedroom 1200 sq ft Bungalow) is currently $85,000 to $90,000. Estimated purchase cost for an existing mobile home is currently $20,000 to $25,000. Typical in-town lot purchase price range from $12,000 to $16,000. Typical acreage purchase prices in surrounding areas are about $10,000 per acre. All prices quoted in Canadian dollars.

Vacancies

In an average month an estimated 10-15 residential properties are listed for resale or rent within the Town limits. The current rental rate for a typical 3 bedroom home is between $400 and $475 per month. Development of 4-6 fourplex units are expected within the next year.

Commercial storefront properties are available for lease (older buildings) starting from $400 to $500 per month. Properties for redevelopment are also available. Warehouse/Industrial space is somewhat limited. Only one property suitable for commercial warehouse or an industrial enterprise (the Tanco building ..42,000+ sq ft) is currently available, located in town just off Hwy 5 with spur access to existing railway line, at an asking price of around $300,000 ($7 per sq ft). Lease cost for this type of property is expected to be between $1.5 to $2.5 per sq ft per year.

Housing Starts

Utilities

In addition to Town of Magrath drinking water system, untreated irrigation water is also provided to most town residents for use in watering lawns and gardens through separate piping systems. These irrigation water systems are pressured by pumps and buried pipe systems owned and maintained by interested community associations and groups.