At a glance
- The average monthly rent price for an unfurnished one-bedroom unit in Calgary increased by $44 this November.
- Edmonton’s rental rates for unfurnished one-bedroom units increased again this month, by an average of $21.
- Calgary’s average rent prices for an unfurnished one-bedroom unit have now risen by $206, or 13.99%, since November 2022.
Looking for our full November 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
This month, average rent prices increased in both Calgary and Edmonton. Despite falling rates in other markets like Vancouver and Toronto, rent prices in Alberta’s major cities have both increased this November. The Bank of Canada’s target overnight rate remains at 5% following a recent announcement on October 25, which has been cause for cautious optimism among landlords and investors. We’ll continue to monitor trends in both of these cities to see where Calgary and Edmonton‘s rent prices stand heading into the new year.
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 November 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
As of November, Calgary’s average monthly rent price for an unfurnished, one-bedroom unit rose by $44, bringing the city’s average monthly rent price for an unfurnished, one-bedroom unit to $1,678. Caglary’s rent prices took a large dip in October and despite this recent increase, are still well below rates in August and September.
Average unfurnished vs. furnished rates
Unfurnished vs. furnished rates in Calgary
Average rates for both furnished one-bedroom units in Calgary have fallen this November 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 -1.64%, renting for an average of $1,934 this month. Prices for unfurnished, one-bedroom units rose (+2.67%, to a new average cost of $1,678 per month.
At present, furnished units cost an average of $256 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
In Edmonton, city-wide average rent prices for unfurnished one-bedroom units have also increased this month. This November, rental rates have increased by $21, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,209 per month.
Unfurnished vs. furnished rates in Edmonton
In Edmonton, average monthly rent prices for furnished one-bedroom units fell slightly this month (-0.22%), while prices for unfurnished units rose (+1.76%) on average. This month, furnished units in Edmonton rent for an average of $275 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
- Southwest Calgary had the most expensive average rent prices for one-bedroom, unfurnished units this month, while City Centre had the highest rates for two- and three-bedroom, unfurnished units.
- Calgary City Centre also had the most expensive rates for one-, two-, and three-bedroom furnished units this month.
- Northeast Calgary had the lowest average rent prices for unfurnished one-, two-, and three-bedroom units this November.
Sector breakdown: Edmonton
- Downtown Edmonton had the highest average rent prices for all unit types except for three-bedroom furnished units this month.
- Northeast Edmonton had the least expensive rental rates for one-bedroom, unfurnished units.
- Southeast Edmonton had the lowest prices for furnished one-bedroom units, on average.
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:
October 2023 Metro Vancouver Rent Report
October 2023 Toronto Rent Report
October 2023 Calgary & Edmonton Rent Report
October 2023 Montreal Rent Report
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