Is $62,000 a good salary in Cold Lake, Alberta?

Is $62,000 a good salary in Cold Lake, Alberta?

$62,000 is $3,100 less than the average yearly salary of $65,100 in Cold Lake. A salary of $62,000 per year means that you would be taking home about $47,452 per year after taxes, or $3,954 per month to pay for things like housing, transportation, groceries, and entertainment. The average household income in Cold Lake is $119,400.

Cold Lake, Alberta
Updated: May 1, 2024

Average Cost of Living per Month in Cold Lake

The average cost of living in Cold Lake is $3,430/month for a single person who rents.This average is based on many factors including the cost of housing, transportation, groceries, and entertainment.
Average cost of living
$3,430/month

Monthly net income of $62,000/year
$3,954/month
Average total income in 2020
$65,100

Average total household income in 2020
$119,400

Average Salary in Cold Lake

The average salary in Cold Lake is $65,100, which is 19.6% higher than the Canadian average salary of $54,450. A person making $62,000 a year in Cold Lake makes 4.8% less than the average working person in Cold Lake and will take home about $47,452.
Net Annual Pay:
$47,452
Income tax breakdown
Hourly Salary:
$31.79
Salary breakdown

Cost of Living Calculator

Below are the details used to generate the average Cost of Living for Cold Lake. Change the inputs to match your lifestyle and see how it compares to the average cost of living and a salary of $62,000.
Renter
Homeowner
Housing

Housing

The average monthly cost of rental housing in Cold Lake is $1,579.
Transit
Driver
Transportation

Transportation

The average monthly cost for a driver in Cold Lake is $607.
Groceries

Groceries

The average person spends $413 on groceries per month in Cold Lake.
Utilities

Utilities

The average monthly cost of utilities in Cold Lake is $214.
Leisure & Entertainment

Leisure & Entertainment

The average person in Cold Lake spends $158 on leisure & entertainment per month.
Clothing

Clothing

The average person in Cold Lake spends $27 on clothing per month.
Restaurants

Restaurants

The average person in Cold Lake spends $282 on restaurants per month.
Other

Other

The average person in Cold Lake spends $150 on miscellaneous goods and services per month.
General Disclaimer: This tool is designed for approximation purposes only and should not be used to replace a legal or accounting authority. To simplify the process, some variables are assumed to calculate the numbers included on this page. The results of this calculator should not be relied upon to determine career or tax decisions.

Your Results

Disclaimer: These numbers estimate what it costs to live in Cold Lake based on Numbeo data. People can live in the city for much less, while others may need much more to fund their lifestyle.
Your cost of living
$3,430/month

Monthly net income of $62,000/year
$3,954/month