It’s welcome news for our wallets, with rent prices in Calgary recording a big drop since this time last year. Calgary even leads the country when it comes to the largest shifts.
According to the newly released Zumper rent report, Vancouver leads the country for the rent price of a one-bedroom, with an average of $2,600. Toronto follows in second place, with an average of $2,400.
The cost to rent a one-bedroom in Calgary was $1,750, a 2.2% drop from the month prior, while a two-bedroom cost $2,190, also a 2.2% drop.
Zumper
Calgary experienced the largest annual rent price decline in the country, falling 7.4%, followed by Vancouver, which saw rent drop prices 6.5% since this time last year.
It’s not such great news for our friends to our north, with Edmonton seeing the second fastest rent growth in the country, up 16.7% since this time last year. YEG only trails Saskatoon in the race for the largest growth in yearly rent prices, which jumped 16.8%.
Zumper added that the national rent market is starting to change, with new supply becoming available to help meet demand across the country. This will help ease national prices from the double-digit growth rates they previously experienced in 2023.
The Zumper Canadian Rent Report analyzes rental data from hundreds of thousands of active listings across the country. Listings are then aggregated monthly to calculate median asking rents for the 23 most populous metro areas.