Blog 5 Rent Reports 5 Alberta 5 May 2024 Calgary & Edmonton Rent Report

May 2024 Calgary & Edmonton Rent Report

7 min read
Greg Park

Greg Park

Creative Content Writer at liv.rent

Published on May 14, 2024

At a glance

  • Both Calgary and Edmonton have seen substantial price increases compared to May 2023
    • The average rate for unfurnished one-bedroom units in Calgary is up +10.29%, increasing from $1,555 in May 2023 to $1,715 at present. Similarly, prices for the same unit type in Edmonton have risen by +15.64%, or $180, over the same timeframe.
  • Despite a substantial city-wide YoY increase, rent prices in Calgary City Centre are only +2.28% higher than in May 2023
    • At this time last year, an unfurnished one-bedroom unit in Calgary City Centre rented for $1,751 – just $40 lower than in May 2024. Northeast and Southeast Calgary have seen the most substantial year-over-year rent increases, at +17.91% and +15.25%, respectively.
  • Average rent for a one-bedroom unfurnished unit in Downtown Edmonton is $91 higher than in January 2024
    • Rates for unfurnished units have soared in downtown Edmonton since the start of the year, and are currently +7.41% higher than in January. Rent prices for furnished one-bedroom units have increased by a similar amount, increasing by $134, or +7.60%, since January 2024.

Download the full report here for a comprehensive summary of this month’s rental data.


Download The Latest Calgary and Edmonton Rent Reports

For the complete Calgary and Edmonton rent reports, download here.

As the busy summer renting season begins, average rent prices for unfurnished one-bedroom units have increased in both Calgary and Edmonton. The Bank of Canada’s target overnight rate remains at 5% following a recent announcement on April 10th, which has been cause for cautious optimism as the Bank signalled that cuts could come as early as June. We’ll continue to monitor trends in both of these cities to see where Calgary and Edmonton‘s rent prices stand heading into the busy summer & fall renting season.

We’ve recently published our 2024 Canada Rental Market Trend Report with 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 May 2024. Don’t forget, you can download the entire report as a one-page infographic PDF below.


Average rent across Calgary

This May, Calgary’s city-wide average monthly rent price for an unfurnished, one-bedroom unit rose by $32, bringing the rate for an unfurnished, one-bedroom unit to $1,715.

Calgary rent trend for unfurnished one bedroom units as of the May 2024 liv rent report

Month-to-month rent change

This chart breaks down the percentage change in rent prices across all of Calgary’s quadrants between April and May 2024.

percentage change in rental prices for different quadrants in Calgary, via the May 2024 liv rent report

This month, the most notable change for unfurnished one-bedroom units was the increase in average rates in Southwest Calgary (+7.56%). Furnished units also saw a few noteworthy shifts, with the largest changes in Southwest (-4.56%) and Northwest Calgary (+4.21%).


Average unfurnished vs. furnished rates


Unfurnished vs. furnished rates in Calgary

Average rates for both furnished and unfurnished one-bedroom units in Calgary rose this month. Looking at the city as a whole, the average monthly rent for a furnished one-bedroom unit has risen +2.14%, renting for an average of $1,887 this month. Prices for unfurnished, one-bedroom units rose +1.93%, to a new average cost of $1,715 per month.

At present, furnished units cost an average of $172 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 on rent by bringing their own furniture.

average unfurnished and furnished one-bedroom rent prices in Calgary, Alberta for liv.rent's May 2024 Calgary and Edmonton Rent Report

Average rent across Edmonton

In Edmonton, city-wide average rent prices for unfurnished one-bedroom units have risen substantially this May. This month, the city’s rental rates increased by $75, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,331 per month.

Edmonton rent trend for unfurnished one bedroom units as of the May 2024 liv rent report

Month-to-month rent change

This chart breaks down the percentage change in rent prices across all of Edmonton’s different sectors between April and May 2024.

percentage change in rental prices for different quadrants in Edmonton, via the May 2024 liv rent report

This May, average rent prices for unfurnished one-bedroom units increased the most in Northwest Edmonton, with the only slight decrease in the city’s Southwest sector. Prices for furnished one-bedroom units increased the most in Downtown Edmonton while falling the most in West Edmonton.


Unfurnished vs. furnished rates in Edmonton

In Edmonton, average monthly rent prices for furnished one-bedroom units fell (-3.16%), while prices for unfurnished one-bedroom units rose (+5.95%). As of May 2024, furnished units in Edmonton rent for an average of $106 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.

average unfurnished and furnished one-bedroom rent prices in Edmonton, Alberta for liv.rent's May 2024 Calgary and Edmonton Rent Report

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.


Looking for our full May 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 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

  • Prices for unfurnished one-bedroom units increased in every quadrant except for City Centre this month
  • Southeast Calgary had the highest average rates for one-bedroom unfurnished units, while City Centre had the highest rates for two- and three-bedroom unfurnished units
  • Northeast Calgary had the lowest average rent prices for all unit types except for one-bedroom furnished units
average rent for unfurnished units by quadrant in Calgary, Alberta via the May 2024 liv rent report
average rent for furnished units by quadrant in Calgary, Alberta via the May 2024 liv rent report

Sector breakdown: Edmonton

  • Downtown Edmonton had the highest rates for two- and three-bedroom unfurnished units, plus one- and two-bedroom furnished units
  • Southwest Edmonton had the highest average rent prices for one-bedroom unfurnished units
average rent for furnished units by quadrant in Edmonton, Alberta via the May 2024 liv rent report
average rent for furnished units by sector in Edmonton, Alberta via the May 2024 liv rent report

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.


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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April 2024 Metro Vancouver Rent Report
April 2024 Toronto Rent Report
April 2024 Calgary & Edmonton Rent Report
April 2024 Montreal Rent Report

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