Mount Pearl is the second-largest city in the province of Newfoundland, second only to its capital city of St. John’s. The city is located on the eastern tip of the Avalon Peninsula and is technically a part of St. John’s large metropolitan area. This makes it a suitable option for anyone who is unable to secure housing in St. John’s but wants to stay close to the capital to enjoy the perks of living there. Discover what living in Mount Pearl NL is like and what to expect with its real estate market.
Mount Pearl NL Real Estate Overview
Mount Pearl is a quiet and peaceful community and is considered an ideal place to live for those who prefer a neighborhood with a family-friendly atmosphere. It is located within the Greater St. John’s metropolitan area.
The real estate market in Mount Pearl is mostly made up of single-detached homes (about 45 percent of the properties in the city). The remaining housing stock in Mount Pearl is made up of duplexes and town houses.
In terms of single-family homes, you can find a variety of options in Mount Pearl including three- to four-bedroom homes. The majority of the residents in Mount Pearl (representing 70 percent) are homeowners and the rest are renters.
The majority of the homes in this part of St. John’s were built in the 1960s and the 1970s. The rest were built around the 1980s and the 1990s.
Is Mount Pearl NL a Good Place to Live?
The World Atlas has listed Mount Pearl as one of the best cities to live in the province of Newfoundland and Labrador, Canada. Therefore, it is not surprising that there is a huge level of demand for housing in the area as many people are planning to move here and enjoy the perks of living in Mount Pearl NL.
Is Mount Pearl NL a good place to live? Here are some of the advantages that you can enjoy as a local resident.
1. Beautiful and Clean
The province of Newfoundland and Labrador is naturally bountiful when it comes to landscapes and scenery. Mount Pearl is no different. This city is well-renowned for its natural beauty due to the diverse landscapes that you can enjoy without the need to travel far.
Your family’s safety is one more reason to move to Mount Pearl NL. This city is known for its low crime rate. It is one of the most attractive cities in the province for this reason. The crime rate in the city is below the national average.
3. Indoor and Outdoor Activities
Mount Pearl prides itself for offering a variety of activities that local residents can enjoy. Whether you prefer indoor explorations such as shops and museums or outdoor activities such as hiking, there is something for you to enjoy here.
4. World-Class Cuisine
You do not need to go to the major cities to enjoy the most delicious cuisines in Canada. Mount Pearl is located on a peninsula, which means it is close to bodies of water. This is why residents get to enjoy fresh and quality seafood all year round. In fact, there is an abundance of options for world-class seafood restaurants in Mount Pearl.
5. High Income
The average income in Mount Pearl is higher than the national average. This is an excellent place to live for anyone looking for well-paying job opportunities. However, the unemployment rate in the city is quite high at 8.3 percent.
6. Good Transportation
Driving is one of the best forms of transportation in the city. The houses for sale in the city are easily accessible with most of them located close to major highways and within a short car ride from places of work and other facilities. The public transport system is also good with a few bus lines and most bus routes located close to residential areas.
7. Abundant Facilities
The people living in Mount Pearl NL get to enjoy basic amenities and services for added convenience. There is no need to go to neighboring cities to do grocery shopping or run errands as the city is serviced by its own supermarket and schools.
Cost of Living in Mount Pearl NL
Located southwest of St. John’s, Mount Pearl enjoys the advantages of being close to the capital city. It is no wonder why it is the third-largest settlement in the region.
The cost of living is one of the areas that potential residents want to consider when deciding if this is a viable option when looking for a new home. The average score for Mount Pearl is 4.5, which takes into account the cost of food, rent, health services, transportation, taxes, and other utilities. Compared to the national average, the cost of living in Mount Pearl NL is 10 percent higher.
The cost of food in Mount Pearl is considered one of the most affordable expenses among the residents in the city. Meanwhile, transportation, housing, and health are of equal range as far as cost is concerned.
According to Indeed CA, the average hourly rate for employees in Mount Pearl is $22.66. The overall average in terms of Mount Pearl salary is $62,587 per year. The median household income in Mount Pearl is $78,232 annually (higher than the national household income average).
Average Housing Prices in Mount Pearl NL
An average home in Mount Pearl is listed at a price tag of $302,400, which is slightly higher than most listed home prices in the country. A 3-bedroom property is the most commonly listed type of property in Mount Pearl.
The average price for properties sold in the city vary according to the type of property. For example, a 2-bedroom property is listed at $292,900 and the 5-bedroom properties are listed as high as $403,900. Based on data pricing for homes in Mount Pearl for the past few years, there is a monthly growth rate of 2.17 percent on house prices in the city. These data are based on a report from the Canadian Real Estate Wealth magazine.
Posted by Teri-Lynn Jones