I think one of the main reasons why everything is so expensive is that everyone wants to live here. In terms of day to day lifestyle, having access to clean nature - it's fantastic. Other cities are more "fun" in terms of nightlife like Toronto or Montreal but only slightly cheaper. Any other canadian city you'll save a lot more $$$ but your day to day will be boring ...
Alberta is hardcore looking for migrants. They got ads everywhere in all other provinces. I think Calgary is a better shout than Edmonton, but Eddy is certainly cheaper.