At a glance
- Calgary’s average rent prices have fallen for the third consecutive month
- This November, Calgary’s city-wide average monthly rent for an unfurnished one-bedroom unit decreased by $15, bringing the rate down to $1,661/month. Over the past six months, prices have fallen by a total of $42 per month, reflecting a gradual decline in rental costs across the city.
- Rental prices for furnished one-bedroom units in Southwest Calgary are rising, while other areas are experiencing declines
- This month, rental prices for furnished one-bedroom units in Calgary were experiencing a decline in all areas except for Southwest Calgary. Northeast Calgary saw the steepest drop, decreasing by (-8.44%). In contrast, Southwest Calgary bucked the trend, showing a notable (+13.24%) increase for furnished one-bedroom rentals—the only area with a price hike, contributing to the overall (+0.04%) increase seen for furnished one-bedroom units in Calgary.
- Price gap widens between furnished and unfurnished rentals in Edmonton
- This month, Edmonton’s rental market saw furnished one-bedroom units increase by (+4.25%) to $1,597/month, while unfurnished units dropped by (-1.18%), settling at $1,375/month. As a result, furnished rentals now average $222 more than their unfurnished counterparts, highlighting a growing price disparity between the two options in the city.
Download The Latest Calgary and Edmonton Rent Reports
For the complete Calgary and Edmonton rent reports, download here.
Average rent prices for unfurnished one-bedroom units have decreased in both Edmonton and Calgary The Bank of Canada’s target overnight rate was recently lowered to 3.75% during an announcement on October 23rd, which has been cause for cautious optimism throughout the remainder of 2024. We’ll continue to monitor trends in both of these cities to see where Calgary and Edmonton‘s rent prices stand heading into the fall renting season.
We’ve published our 2024 Canada Rental Market Trend Report with an in-depth analysis of average rent prices, driving factors, and predictions for the year ahead. You can download your copy here.
Let’s take a look now at the current rental costs and overarching trends in Calgary and Edmonton for November 2024. Don’t forget, you can download the entire report as a one-page infographic PDF below.
Average rent across Calgary
This November, Calgary’s city-wide average monthly rent price for an unfurnished, one-bedroom unit fell by $15, bringing the rate for an unfurnished, one-bedroom unit to $1,661.
Month-to-month rent change
This chart breaks down the percentage change in rent prices across all of Calgary’s quadrants between October and November 2024.
Rents are down for furnished and unfurnished units in most areas. The most notable change for unfurnished one-bedroom units was a (-5.05%) decrease in average rates in Northwest Calgary. On the other hand, furnished one-bedroom units in Southwest Calgary saw the only increase in prices (+13.24%).
Average unfurnished vs furnished rates
Unfurnished vs furnished rates in Calgary
Average rates for unfurnished one-bedroom units in Calgary fell this month, while unfurnished units increased in price. Looking at the city as a whole, the average monthly rent for an unfurnished one-bedroom unit has decreased by (-0.89%), renting for an average of $1,661 this month. Prices for furnished, one-bedroom units increased slightly this month by (+0.04%), to a new average cost of $1,790/month.
At present, furnished units cost an average of $129 more per month to rent than unfurnished units. This means that landlords can generally earn a higher profit by renting their units furnished. In contrast, renters will be able to save on rent by bringing their own furniture.
Average rent across Edmonton
This month, Edmonton’s rental rates for an unfurnished one-bedroom unit fell by $17, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,375 per month an increase of $58 in the last six months.
Month-to-month rent change
This chart breaks down the percentage change in rent prices across all of Edmonton’s different sectors between October and November 2024.
This November, average rent price increased for unfurnished one-bedroom units in Northeast Edmonton by (+5.39%), meanwhile West Edmonton (-5.01%) and Southwest Edmonton (-3.77%) saw the largest decreases for unfurnished units. Prices for furnished one-bedroom units saw an unsual trend with no areas seeing a price increase this month, while the largest decreases occurred in Southwest Edmonton (-5.85%) and West Edmonton at (-1.08%).
Unfurnished vs furnished rates in Edmonton
In Edmonton, average monthly rent prices for furnished one-bedroom units increased (+4.25%) to $1,597/month, while prices for unfurnished one-bedroom units decreased by (-1.18%) to $1,375/month. As of November 2024, furnished units in Edmonton rent for an average of $222 more than unfurnished units. This indicates that landlords who can rent their units furnished would benefit from doing so, particularly if they plan to rent their units on a short-term basis.
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Looking for our full November 2024 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
Quadrant/Sector breakdown
To better understand each of these cities’ average rental prices, let’s break down both Calgary and Edmonton into their constituent quadrants/sectors. We’ll examine prices & trends for one-, two-, and three-bedroom units in each city for a more in-depth analysis.
Quadrant breakdown: Calgary
- Prices decreased in every quadrant for two-bedroom unfurnished units as well as all three-bedroom furnished units.
- Calgary City Centre has the highest rental prices for all types of unfurnished units as well as one- and two-bedroom furnished units, with Southwest Calgary being the most expensive for three-bedroom furnished units.
- Average prices increased for all one-bedroom unfurnished units except for in Calgary City Cetre and Nortwest Calgary.
Sector breakdown: Edmonton
- Prices have decreased for all types of one-bedroom unfurnished units everywhere except for Downtown and Northeast Edmonton.
- Northwest Edmonton has the cheapest rental prices across all types of unfurnished units.
- Downtown Edmonton has the most expensive average rent prices for all types of furnished units as well as two- and three-bedroom unfurnished units, Southwest Edmonton is the most expenssive for one-bedroom unfurnished units.
Downloadable resources
Download The Latest Calgary and Edmonton Rent Reports
For the complete Calgary and Edmonton rent reports, download here.
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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June 2024 Metro Vancouver Rent Report
June 2024 Toronto Rent Report
June 2024 Calgary & Edmonton Rent Report
June 2024 Montreal Rent Report
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