High angle view of downtown skyline from south, with Beltline area in foreground.
Last month, asking rents in Calgary were down 1.1 per cent for one bedroom apartments and 2.6 per cent for two bedrooms compared to last year — the first decrease reported by Rentals.ca since February 2021.Last month, asking rents in Calgary decreased by 1.1 per cent for one bedroom apartments and 2.6 per cent for two bedroom apartments. It's a far cry from consistent increases seen over the last few years. by Rentals.ca and Urbanation, which said in September asking rents were down 1.
"Calgary, as recently as earlier this year, was seeing double-digit annual rent growth, which it has been seeing for a few years now." With Alberta's population growth not showing any signs of slowing, the recent change is a little surprising to Charles St-Arnaud, chief economist with Alberta Central. But looking at the data, he says it's likely thanks to new housing supply coming onto the market.for new residential builds, reaching a total of 19,579 units.
"While it's a pretty modest decrease, I do think it means we're heading in the right direction and that's really positive," said Reid. She says that puts families in an especially difficult position, and it's critical that moving forward, Calgary's housing starts include units with three or more bedrooms.
Tia Moore, a renter in Calgary, says she "jumped for joy" when she heard about the decrease in asking rents. Though it's a small change, she says she's hopeful it will lead to a cooler market that makes it easier for renters like herself to find homes.
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