If you are moving to Calgary or simply looking for a new place to call home in the city, a report has revealed which areas are the most in demand with low vacancy rates for rentals.
The Calgary Real Estate Board (CREB) outlined in its 2025 outlook report which zones in the city saw the lowest vacancy rates, with a couple under the 2% mark.
The CREB said that over the past couple of years, declining rental vacancies and rising rental rates have driven significant growth in rental construction. By the end of October 2024, over 5,500 purpose-built rental units had been added to the market.
That has helped raise the vacancy rates in some parts of Calgary, like the downtown core, and supply growth is set to continue this year.
The demand for rentals is also set to be eased by slower international migration, further improving rental availability and continuing to weigh on rental rates in 2025.
CREB says the city’s northeast and Fish Creek areas saw the lowest vacancy rates last year at 1% and 1.7%, respectively. Beltline and Downtown had the highest vacancy rates at 5.5% and 6.9%, respectively.
In 2024, the highest vacancy rates in Calgary were among newly completed units and properties with higher price points for rentals.
CREB
Looking to this year, experts at the CREB say housing demand is expected to remain above long-term trends, supported by past gains in population and employment, easing lending rates, and better supply options.
“Factors such as slowing migration from record highs, increased competition from new home construction, and heightened economic uncertainty are likely to limit further growth in resale activity. Despite this, the forecasted sales of over 26,000 units reflect a strong housing market, with activity levels over 20% higher than long-term trends,” the CREB noted.
Check out the full CREB 2025 outlook report.