Calgary is one of Canada’s most affordable big cities for renters: report

A new report shows rent in Calgary remains significantly more affordable than other Canadian big cities, including Halifax, where average rents are now nearly $400 higher.

The analysis from Rentals.ca has Calgary’s average rent at $1,870, well below Toronto ($2,482), Vancouver ($2,672) and Halifax ($2,269). Edmonton remains cheaper still at $1,590.

Calgary has also recorded the largest two‑year drop in rents at –11.8 per cent, closely trailed by Vancouver and Toronto.

For newcomers Parth and Swati Budhiraja, who moved from Halifax six months ago, the difference has been striking.

“There I was paying 2,500 for a two‑bedroom, two‑bath,” Parth said. “Here we are paying 2,300, including parking, and that too in downtown. Anyone looking to move to Calgary right now, I feel like it’s the right time.”

The report also shows the average asking rent for purpose‑built and condo apartments nationwide dipped 2.4 per cent year‑over‑year to $2,035.

Alberta led provincial declines at –4.4 per cent, followed by Ontario and B.C. Saskatchewan, meanwhile, continued its upward trend with a 3.3 per cent increase.

Industry experts say Alberta’s cooling rents may be tied to a slowdown in the province’s recent migration boom and a growing supply of units.

“A lot of the commercial buildings downtown are being converted into residential apartment buildings,” said Corinne Lyall, broker and owner at Royal LePage Benchmark. “On top of that, new zoning has allowed more properties with suites.”

Lyall expects one‑bedroom condo rents to soften further as more units hit the market, though larger homes may see landlords offering incentives rather than lowering prices.

Despite the declines, the national average rent still sits above $2,000. Rents across Canada have declined on an annual basis for 17 straight months.