February 2023 Calgary & Edmonton Rent Report

Looking for our full February 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.

This month, Calgary saw an increase in average rent prices whereas Edmonton saw a dip. As with previous reports for these two Alberta cities, average monthly rental rates are still well below other Canadian cities we report on, such as Vancouver and Toronto. It will be interesting to see where Calgary and Edmonton’s rent prices end up by year’s end as interest rates rise and demand for affordable rentals increases.

Founded in 2015, liv.rent is Canada’s safest rental platform and all-in-one landlord productivity tool. We publish monthly Rent Reports for Vancouver, Toronto, Montreal – and now Calgary and Edmonton as well. After receiving a number of requests, we’ve expanded our reports to Alberta – looking at data from our own liv.rent listings as well as from other popular listing sites in the area. For more information on how we gather data for our Rent Reports, please consult our Data collection methodology.

We’ll soon be releasing our 2023 Canada-wide Report with even more rental data and statistics. For access to this and other updates on the Alberta rental market, be sure to subscribe to our newsletter.

Let’s take a look now at the current rental costs and overarching trends in Calgary and Edmonton for February 2023. Don’t forget, you can download the entire report as a one-page infographic PDF below.

Jump to the following Calgary & Edmonton Rent Report sections:

Average unfurnished vs. furnished rates

Unfurnished vs. furnished rates in Calgary

Following slight dips in average rental rates last month, prices for both furnished and unfurnished units in Calgary have increased this February. Across the city, the average monthly rent for a furnished, one-bedroom unit was $1,707, while unfurnished, one-bedroom units now rent for an average of $1,537 per month – a +3.56% increase from January. This $170 difference in price means that landlords are still able to earn a higher profit by renting their units furnished, whereas renters will be able to save on rent by bringing their own furniture.

Unfurnished vs. furnished rates in Edmonton

In Edmonton, average monthly rent prices fell for both furnished and unfurnished, one-bedroom units. This February, furnished units in Edmonton rented for an average of $1,368 per month, while unfurnished, one-bedroom units rented for an average of $1,093. This $275 difference indicates that landlords who are able to rent their units furnished would benefit from doing so, particularly if they plan to rent their units on a short-term basis.

Quadrant/Sector breakdown 

To get a better sense of these cities’ average rental prices, let’s now break down both Calgary and Edmonton into their constituent quadrants/sectors. We’ll examine prices for one-, two-, and three-bedroom units, as well as divide each up into unfurnished and furnished for more accurate analysis.

Quadrant breakdown: Calgary

Unfurnished units

• Southeast Calgary had the most expensive one-bedroom, unfurnished units this month at a monthly average of $1,655
• City Centre had the most expensive two- and three-bedroom, unfurnished units this February
• Northeast Calgary had the least expensive one-bedroom, unfurnished units for February 2023

Furnished units

• For the third consecutive month, City Centre had the most expensive one-, two-, and three-bedroom, furnished units, on average
• Northwest Calgary had the least expensive one- and three-bedroom, furnished units this month – with three-bedroom units actually renting for less than two-bedroom units, on average
• Northeast Calgary had the cheapest average rent prices for two-bedroom, furnished units

Sector breakdown: Edmonton

Unfurnished units

• West Edmonton had the least expensive rent for one-bedroom, unfurnished units for the second straight month
• Average rent prices fell in Downtown Edmonton for one-, two- and three-bedroom unfurnished units
• Southwest Edmonton had the most expensive one- and three-bedroom unfurnished units this month

Furnished units

• Northwest Edmonton had the most expensive one-bedroom, furnished rental this month on average
• Average rent prices rose for one-, two- and three-bedroom furnished units in Southwest Edmonton this month
• Southeast Edmonton had the least expensive one-and three-bedroom furnished units this month, with prices for three-bedroom units identical to Northwest Edmonton

Downloadable resources

Make Zoom calls fun and informative when you use the latest rental averages and trends as your virtual background.

Rental resources for Alberta renters

You can read these comprehensive guides for more information on renting in Alberta and using liv.rent to streamline your rental process.

• FAQ: Landlord & tenant responsibilities in Alberta
• FAQ: Everything you need to know about rent deposits in Alberta
• The Complete User Guide To liv.rent For Landlords & Property Managers
• The Ultimate Renter’s Guide To Using liv.rent

Data collection methodology

Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites – looking at available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

When collecting this data, we do exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means that we only consider the current month’s listing, since we can filter out duplicate listings and older ads that haven’t been removed.

Another key difference between our data collection methods and some government agencies like the CMHC is that we only include current asking rent prices. Many official reports will include data for entire buildings in their reports, which tends to skew numbers lower since many units are already occupied, and may be rent-controlled or rented for significantly lower than the current rates.

As we are a Canadian rental platform founded and based in Vancouver, we want to ensure that we’re providing a completely accurate depiction of the rental market in the cities we look at.

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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:

January 2023 Metro Vancouver Rent Report
January 2023 Toronto Rent Report
January 2023 Calgary & Edmonton Rent Report
January 2023 Montreal Rent Report