At a glance
- The average monthly rent price for an unfurnished one-bedroom unit in Calgary increased by $21 between November and December 2023.
- Edmonton’s rental rates for unfurnished one-bedroom units also increased this month, by an average of $23.
- Among Edmonton’s different sectors, Downtown had the highest average rent prices for all types of units, both furnished and unfurnished, this December.
Looking for our full December 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
For back-to-back months, average rent prices increased in both Calgary and Edmonton. Despite falling rates in other markets like Vancouver and Toronto, rates in Alberta’s two major cities continue to rise throughout the winter. The Bank of Canada’s target overnight rate remains at 5% following a recent announcement on December 6th, which has been cause for cautious optimism among landlords and investors heading into the new year. We’ll continue to monitor trends in both of these cities to see where Calgary and Edmonton‘s rent prices stand in the coming months.
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 December 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
This December, Calgary’s city-wide average monthly rent price for an unfurnished, one-bedroom unit rose by $21, bringing the rate for an unfurnished, one-bedroom unit to $1,699. Despite recent increases, the city’s average rent prices are still just below rates in August and September.
Month-to-month rent change
This chart breaks down the percentage change in rent prices across all of Calgary’s quadrants between November and December 2023.
Average rates for unfurnished units rose the most in Southeast Calgary while falling significantly in the city’s Northwest quadrant. Looking at furnished units, the most significant increase occurred in Southeast Calgary while the largest decrease was seen in the Southwest.
Average unfurnished vs. furnished rates
Unfurnished vs. furnished rates in Calgary
Average rates for furnished one-bedroom units in Calgary have fallen this December while prices for unfurnished one-bedroom units have increased. Looking at the city as a whole, the average monthly rent for a furnished one-bedroom unit is down -2.69%, renting for an average of $1,882 this month. Prices for unfurnished, one-bedroom units rose +1.27%, to a new average cost of $1,699 per month.
At present, furnished units cost an average of $183 more per month to rent than unfurnished units, meaning that landlords can generally earn a 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
In Edmonton, city-wide average rent prices for unfurnished one-bedroom units have also increased this December. This month, the city’s rental rates rose by $23, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,232 per month.
Month-to-month rent change
This chart breaks down the percentage change in rent prices across all of Edmonton’s different sectors between November and December 2023.
Average rent prices for unfurnished one-bedroom units rose substantially in Southeast and Northeast Edmonton, falling only in the city’s Downtown and Southwest sectors. Prices for furnished one-bedroom units rose in many sectors this month, with the most pronounced month-to-month increase in West Edmonton.
Unfurnished vs. furnished rates in Edmonton
In Edmonton, average monthly rent prices for furnished (+1.63%) and unfurnished (+1.87%) one-bedroom units both increased slightly this month. This December, furnished units in Edmonton rent for an average of $277 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
- Calgary City Centre had the highest rates for all types of units this month, both furnished and unfurnished.
- Northwest Calgary had the cheapest average rent prices for both furnished and unfurnished one-bedroom units this month.
- Average rent prices for furnished one-bedroom units fell in every quadrant except for Southeast Calgary this month.
Sector breakdown: Edmonton
- West Edmonton had the lowest average rent prices for one-bedroom unfurnished units this month, while Southeast Edmonton had the cheapest rates for one-bedroom furnished units.
- Average prices for unfurnished two-bedroom units increased in every sector besides Southwest Edmonton this month.
- Downtown Edmonton had the highest average rent prices for all unit types this December.
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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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:
November 2023 Metro Vancouver Rent Report
November 2023 Toronto Rent Report
November 2023 Calgary & Edmonton Rent Report
November 2023 Montreal Rent Report
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