At a glance
- The average monthly rent for an unfurnished, one-bedroom unit in Calgary increased by $62 this July, bringing the city’s rate to $1,667.
- In Edmonton, city-wide average rent prices for an unfurnished, one-bedroom unit rose by $15 this month.
- Furnished, one-bedroom units now cost an average of $434 more to rent than unfurnished units in Calgary.
Looking for our full July 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
With the busy renting season ramping up, average rent prices for an unfurnished, one-bedroom unit have risen in both Calgary and Edmonton this July, for the second consecutive month. This comes amid steadily increasing demand for rental housing across the country, as well as yet another increase to the Bank of Canada’s target overnight rate. 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 July 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
Following a similar increase in June, Calgary’s average rent prices for an unfurnished, one-bedroom unit have risen again this July. As of this month, the city’s rental rates rose by another $62, bringing Calgary’s average monthly rent price for an unfurnished, one-bedroom unit to $1,667.
Average unfurnished vs. furnished rates
Unfurnished vs. furnished rates in Calgary
Average rent prices for both furnished & unfurnished, one-bedroom units in Calgary have increased this July. Across the city, the average monthly rent for a furnished, one-bedroom unit is up +7.34%, with an average of $2,101. Prices for unfurnished, one-bedroom units rose as well, though not as substantially. At present, furnished units cost an average of $434 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 increased by a slight margin this month, continuing a gradual upward trend. This July, rates increased by $15. Following this shift, Edmonton’s rental rates for an unfurnished, one-bedroom unit now stand at $1,175 per month.
Unfurnished vs. furnished rates in Edmonton
In Edmonton, average monthly rent prices for both furnished and unfurnished, one-bedroom units increased again this month. This July, furnished units in Edmonton rent for an average of $1,395 per month, while unfurnished, one-bedroom units rent for an average of $1,175. This $220 difference 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.
Is your rental priced competitively?
Find out with a free rent estimate. Our team of rental experts will calculate your unit’s true value based on your listing details & current market trends.
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
- City Centre had the most expensive one-, two-, and three-bedroom furnished & unfurnished units this month.
- Northwest Calgary had the cheapest one-bedroom furnished & unfurnished units this month.
- Average monthly rent prices for unfurnished, one-bedroom units rose in every quadrant except for Northwest Calgary this July.
Sector breakdown: Edmonton
- West Edmonton had the least expensive rates for unfurnished, one-bedroom units this month, while Northeast Edmonton had the cheapest furnished, one-bedroom units.
- Southeast Edmonton had the most expensive one- and three-bedroom, unfurnished units.
- Furnished, one-bedroom units were cheapest to rent in Northeast Edmonton this July.
Downloadable resources
Make Zoom calls fun and informative when you use the latest rental averages and trends as your virtual background.
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.
Rethink The Way You Rent
Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.
Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:
June 2023 Metro Vancouver Rent Report
June 2023 Toronto Rent Report
June 2023 Calgary & Edmonton Rent Report
June 2023 Montreal Rent Report
0 Comments