At a glance
- The average monthly rent for an unfurnished, one-bedroom unit in Calgary increased for the third consecutive month this August, by $51.
- In Edmonton, city-wide average rental rates for unfurnished, one-bedroom units fell by $68 this month.
- Prices for unfurnished, two-bedroom units increased in every Edmonton quadrant this month, while average rates for one-bedroom, unfurnished units fell across the board.
Looking for our full August 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
Average rent prices in Alberta’s two major cities underwent very different changes this August. Though demand for rental housing has been increasing in major rental markets like Vancouver and Toronto as September approaches, Edmonton’s rental rates have dropped, while prices in Calgary rose by a not insignificant margin this month. These changes come amid yet another increase to the Bank of Canada’s target overnight rate and the resulting higher mortgage payments for many homeowners. We’ll continue to monitor trends in both of these cities to see where Calgary and Edmonton‘s rent prices end up by year’s end.
We’ve published our 2022 Canada-wide Annual Rent Report with even more rental data and statistics, including overarching trends 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 August 2023. Don’t forget, you can download the entire report as a one-page infographic PDF below.
Download The Latest Calgary and Edmonton Rent Reports
For the complete Calgary and Edmonton rent reports, download here.
Average rent across Calgary
Calgary’s average rent prices for an unfurnished, one-bedroom unit have been steadily increasing since May, and have now reached a new yearly high this August. As of this month, the city’s rental rates rose by another $51, bringing Calgary’s average monthly rent price for an unfurnished, one-bedroom unit to $1,718.
Average unfurnished vs. furnished rates
Unfurnished vs. furnished rates in Calgary
Average rates for furnished, one-bedroom units in Calgary have fallen this August, while prices for unfurnished units increased on average. Across the city, the average monthly rent for a furnished, one-bedroom unit is down -4.63%, renting for an average of $2,004 this month. Prices for unfurnished, one-bedroom units rose by +3.05%, to a new average cost of $1,718 per month. At present, furnished units cost an average of $286 more per month to rent than unfurnished units, meaning that landlords can earn a considerably higher profit by renting their units furnished, whereas renters will be able to save considerably on rent by bringing their own furniture.
Average rent across Edmonton
Edmonton’s city-wide average rent prices for unfurnished, one-bedroom units have fallen fairly substantially this August, after three months of consecutive increases. This month, rental rates fell by $68, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,107 per month.
Unfurnished vs. furnished rates in Edmonton
In Edmonton, average monthly rent prices for furnished, one-bedroom units increase substantially this month (+7.73%), while prices for unfurnished units fell (-5.75%) on average. As a result of these changes, furnished units in Edmonton rent for an average of $396 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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Quadrant/Sector breakdown
To get a better sense of each of these cities’ average rental prices, let’s now 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
- Southeast Calgary had the most expensive one-bedroom, unfurnished units this month, while City Centre had the most expensive one-bedroom, furnished units.
- Northwest Calgary had the least expensive one-bedroom, furnished & unfurnished units.
- For the second straight month, average monthly rent prices for unfurnished, one-bedroom units rose in every quadrant except for Northwest Calgary.
Sector breakdown: Edmonton
- Northwest Edmonton had the least expensive average rent prices for unfurnished, one-bedroom units this month.
- Prices for unfurnished, two-bedroom units increased in every Edmonton quadrant this month, while average rates for one-bedroom, unfurnished units fell across the board.
- Prices for furnished, one-bedroom units topped $1,800 in Downtown Edmonton this month.
Downloadable resources
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Free Virtual Backgrounds
Download the latest Calgary & Edmonton rental stats and use as your zoom background.
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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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:
July 2023 Metro Vancouver Rent Report
July 2023 Toronto Rent Report
July 2023 Calgary & Edmonton Rent Report
July 2023 Montreal Rent Report
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