Calgary’s rental market continues to be in high demand, with the cost to rent in the city rising once again last month.
Rent in the city rose by 8.6% from last April to an average of $2,089 in 2024. As well, asking rents for shared accommodations rose even more by 10% annually in Calgary to an average of $908.
Despite the increase, the good news is it’s not looking too bad compared to the rest of the country or the province.
A new report from Rentals.ca found that Alberta’s rental market, overall, has seen the fastest-rising rent costs in Canada.
rentals.ca
The City of Lloydminster had the fastest annual rent growth in the country in April, with asking rents for apartments up 26.7%. The low average rent in the city is now sitting at $1,122.
Another Alberta city took a top spot, with Grande Prairie coming in as the fifth-highest rental increase in Canada. Overall, Alberta led the top 25 markets for fastest rising rents with seven cities making the list.
Edmonton continues to beat Calgary in terms of affordability, with the average cost to rent at $1,507, over $500 lower than its neighbour to the south.
However, the rent increases in Edmonton continue to outpace Calgary, with a 13.3% spike in rental costs last year.