There’s good news for Calgarians currently looking for a new apartment: rent prices have finally dropped.
Rentals.ca released its latest report, and things are looking up for renters. Calgary saw rent decreases in one-bedroom and two-bedroom apartments, month over month and year over year.
According to the data, the average rent for a one-bedroom apartment in Calgary is $1,692, a 0.9% decrease from last month and a 2.2% decrease from last year.
Two-bedroom apartments in the city also saw a rent drop, with the average rent coming to $2,074, a 0.9% decrease from last month and a whopping 4.9% decrease from last year.
Rentals.ca
Despite the much-needed rent drops, Calgary still ranks as the most expensive city for rentals in Alberta.
Edmonton was close behind on rent prices, with wild increases bringing the city’s average rent for a one-bedroom apartment to $1,408 and rent for a two-bedroom apartment up to $1,717.
Compared to the rest of the country, Calgary and Edmonton are both faring pretty well for rent. The report added that the average asking rent for all residential property types in Canada reached $2,193 per month.
The top 10 places with the highest rental prices across Canada were taken by cities in BC and Ontario. Vancouver takes first place with a jaw-dropping average rent of $2,649 for a one-bedroom apartment.