At a glance
- The average monthly rent price for an unfurnished, one-bedroom unit in Calgary fell by $94 this October.
- Edmonton’s rental rates for unfurnished, one-bedroom units increased again this month, by an average of $40.
- On average, a one-bedroom, unfurnished unit rents for $446 more in Calgary than in Edmonton this month.
Looking for our full October 2023 Calgary & Edmonton Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
This October, average rent prices in Calgary fell quite steeply while rates increased in Edmonton. Following the peak renting season in September, rental rates have been falling across the country – with Edmonton now the lone exception among the cities we look at. The Bank of Canada’s target overnight rate remains at 5% for the time being, 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 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 October 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 October, Calgary’s average monthly rent price for an unfurnished, one-bedroom unit fell by $94, bringing the city’s average monthly rent price for an unfurnished, one-bedroom unit to $1,634. This follows four straight month-to-month average increases, and brings Calgary’s high rent prices back to their lowest point since June.
Average unfurnished vs. furnished rates
Unfurnished vs. furnished rates in Calgary
Average rates for both furnished and unfurnished one-bedroom units in Calgary have fallen this October. Across the city, the average monthly rent for a furnished, one-bedroom unit is down a further -0.60%, renting for an average of $1,966 this month. Prices for unfurnished, one-bedroom units also fell by -5.44%, to a new average cost of $1,634 per month.
At present, furnished units cost an average of $332 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 increased this month. This October, rental rates have increased by $40, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,188 per month.
Unfurnished vs. furnished rates in Edmonton
In Edmonton, average monthly rent prices for furnished, one-bedroom units fell slightly this month (-0.96%), while prices for unfurnished units rose (+3.49%) on average. This month, furnished units in Edmonton rent for an average of $293 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
- Average rent prices fell for one- and two-bedroom unfurnished units in every quadrant of Calgary this month.
- For both furnished and unfurnished units, City Centre had the highest average prices for one- and two-bedroom, while Southwest Calgary had the most expensive rates for three-bedroom.
- Northwest Calgary had the least expensive rent prices for unfurnished one-bedroom units.
Sector breakdown: Edmonton
- Northeast Edmonton had the least expensive average rent prices for unfurnished, one-bedroom units this month.
- Southwest Edmonton had the most expensive one-bedroom, unfurnished units this month.
- Average rent prices for unfurnished one-bedroom units rose in every Edmonton sector except for Northeast Edmonton.
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:
September 2023 Metro Vancouver Rent Report
September 2023 Toronto Rent Report
September 2023 Calgary & Edmonton Rent Report
September 2023 Montreal Rent Report
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