Real Estate Blog

Calgary's rental market is dynamic, and understanding the latest trends is crucial for renters, landlords, and real estate investors. As of April 2025, the average rent in Calgary sits at $1,681 per month, showing a 3.1% decrease compared to last year. This translates to potential savings for renters, with one-bedroom units also averaging around $1,681 and two-bedroom units at approximately $2,040.

Calgary Rental Prices by Location

Location is a key factor in Calgary's rental market. Areas like North Hill, Downtown Calgary, and the Beltline command higher average rents, around $1,907 per month. For more affordable rental options, consider neighborhoods like Chinook, where average rents are closer to $1,616. This price variation highlights the importance of considering location when searching for Calgary rentals.

New Rental Supply in Calgary

Calgary has seen a significant increase in its rental housing supply. In 2024, a record-breaking 10,059 new rental units entered the market, nearly tripling the number from 2023. This surge in Calgary rental properties offers more choices for those looking to rent in Calgary. Additionally, as of early 2025, 6,928 new units are under construction, indicating continued growth in Calgary's rental market.

Population Growth and Rental Demand

Calgary's population growth continues to fuel rental demand. Since 2019, the city has added approximately 240,000 new residents, attracted by Calgary's job market, economic opportunities, and relatively affordable cost of living. This influx of new Calgarians has created a strong demand for rental accommodations across the city.

A Balanced Calgary Rental Market The increased rental supply, combined with steady population growth, is leading Calgary's rental market towards more balanced conditions. This equilibrium is expected to moderate rental price increases and provide renters with more options. For renters, this means increased availability and potentially greater negotiating power in the Calgary rental market. Landlords, on the other hand, may need to adopt competitive strategies to attract and retain tenants.

Calgary Real Estate Outlook

For real estate investors, these trends indicate potential opportunities and the need for careful market analysis. Monitoring new rental developments, population growth, and economic factors will be crucial for making informed investment decisions in the Calgary rental market.

Broader Economic Factors

It's also important to consider the influence of broader economic factors on the Calgary rental market. National economic trends, such as the impact of auto tariffs on the Canadian economy, can indirectly affect Calgary. For example, economic uncertainty or job losses in other sectors could influence migration patterns and rental demand in Calgary.

Conclusion Calgary's rental market presents a mix of opportunities and challenges. Renters benefit from increased supply and moderating prices, while landlords and investors need to stay agile and informed. Keeping a close eye on both local and national economic trends is essential for success in Calgary's dynamic real estate landscape.