At a glance
- Calgary & Edmonton experience broad price drops, with notable drops in key areas
- The majority of areas in both Calgary and Edmonton experienced price decreases this month, with notable drops in Calgary City Centre (-14.35%) and Downtown Edmonton (-8.99%) for a one-bedroom furnished unit. Only one-bedroom furnished units in Southeast Calgary (+0.81%) and one-bedroom unfurnished units in Northwest Edmonton (+2.03%) bucked the trend.
- Four-month decline: Calgary’s average rent drops $143 since August
- In December, Calgary’s average monthly rent for an unfurnished one-bedroom unit decreased by $48, bringing the city-wide rate to $1,613/month. This marks a $143 drop since August 2024, when the average was $1,756/month. Meanwhile, Edmonton’s average rent has increased by $12 over the same time period.
- Notable declines: Calgary & Edmonton furnished one-bedroom rents drop over 5%
- Calgary’s average rent for one-bedroom furnished units dropped by (-5.19%), bringing the rate to $1,697/month. Edmonton experienced an even steeper decrease, with prices falling (-6.28%) to an average of $1,497/month.
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 December 2024. Don’t forget, you can download the entire report as a one-page infographic PDF below.
Average rent across Calgary
This December, Calgary’s city-wide average monthly rent price for an unfurnished, one-bedroom unit fell by $48, bringing the rate for an unfurnished, one-bedroom unit to $1,613.
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 2024.
Rents are down for furnished and unfurnished units in all areas except Southeast Calgary which saw a (+0.81%) increase for one-bedroom furnished units. The most notable decrease for unfurnished one-bedroom units was in Northeast Calgary (-8.18%). On the other hand, furnished one-bedroom units in Calgary City Centre saw a decrease of (-14.35%).
Average unfurnished vs furnished rates
Unfurnished vs furnished rates in Calgary
Average rates for furnished and unfurnished one-bedroom units in Calgary fell this month. Looking at the city as a whole, the average monthly rent for an unfurnished one-bedroom unit has decreased by (-2.91%), renting for an average of $1,613 this month. Prices for furnished, one-bedroom units decreased this month by (-5.19%), to a new average cost of $1,697/month.
At present, furnished units cost an average of $84 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 $36, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,339 per month an increase of $20 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 November and December 2024.
This December, the average rent price increased for unfurnished one-bedroom units in Northwest Edmonton by (+2.03%), meanwhile, Downtown Edmonton (-6.34%) and Southwest Edmonton (-4.58%) saw the largest decreases for unfurnished units. Prices for furnished one-bedroom units saw an unusual trend with no areas seeing a price increase this month, while the largest decreases occurred in Downtown Edmonton (-8.99%) and Southwest Edmonton at (-6.10%).
Unfurnished vs furnished rates in Edmonton
In Edmonton, average monthly rent prices for furnished one-bedroom units decreased (-6.28%) to $1,497/month, while prices for unfurnished one-bedroom units decreased by (-2.60%) to $1,339/month. As of December 2024, furnished units in Edmonton rent for an average of $158 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 December 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 for all one-bedroom unfurnished units in Calgary this month.
- Northeast Calgary has the lowest rental prices for all types of unfurnished units as well as two- and three-bedroom furnished units. Northwest Calgary is the cheapest for one-bedroom furnished units.
- Prices decreased across all types of unfurnished units in Northeast Calgary and all types of furnished units in Calgary City Centre.
Sector breakdown: Edmonton
- Prices have decreased for all types of unfurnished units in West and Northeast Edmonton.
- Prices decreased for one-bedroom unfurnished units in all areas except Northwest Edmonton
- Downtown Edmonton has the highest rental prices for all types of furnished units as well as two- and three-bedroom unfurnished units. Southwest Edmonton is the most expensive for one-bedroom furnished 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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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:
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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