At a glance
- Edmonton bucks downward trend
- Despite the easing prices that we are seeing in other cities, rent prices in Edmonton have increased this month with one-bedroom unfurnished units rising by (+1.10%). Downtown Edmonton, West Edmonton and Southwest Edmonton have each seen price increases across all types of unfurnished units this September.
- Changing trends between furnished and unfurnished units in Edmonton
- Prices for furnished one-bedroom units are down (-1.46%) this month in Edmonton as well as prices decreasing across all two- and three-bedroom furnished units in every area we have data for. When looking at unfurnished units the opposite is true. We have seen price increases across one-bedroom unfurnished units everywhere except Northeast Edmonton this month.
- Calgary sees rental prices fall
- Calgary has seen prices fall for both unit types this month, with furnished one-bedroom units falling by (-4.91%) and unfurnished one-bedroom units falling by slightly less (-2.97%). This easing in prices is something that we have seen echoed in other major Canadian cities like Vancouver and Toronto.
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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 increased in Edmonton this month while Calgary saw prices drop for one-bedroom unfurnished units. The Bank of Canada’s target overnight rate was recently lowered to 4.50% during an announcement on July 24th, 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 busy summer & fall renting season.
We’ve recently 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 September 2024. Don’t forget, you can download the entire report as a one-page infographic PDF below.
Average rent across Calgary
This September, Calgary’s city-wide average monthly rent price for an unfurnished, one-bedroom unit fell by $52, bringing the rate for an unfurnished, one-bedroom unit to $1,704.
Month-to-month rent change
This chart breaks down the percentage change in rent prices across all of Calgary’s quadrants between August and September 2024.
Rents are down for furnished and unfurnished units in most areas. The most notable change for unfurnished one-bedroom units was a (-7.74%) decrease in average rates in Southeast Calgary. On the other hand, furnished one-bedroom units in Southwest Calgary saw an even bigger decrease in prices (-9.93%). With rents increasing a little help can go a long way, if you want some help paying your rent make sure you enter our $5,000 giveaway, deadline closing soon!
Average unfurnished vs furnished rates
Unfurnished vs furnished rates in Calgary
Average rates for both furnished and unfurnished one-bedroom units in Calgary fell this month. Looking at the city as a whole, the average monthly rent for a furnished one-bedroom unit has decreased by (-4.91%), renting for an average of $1,817 this month. Prices for unfurnished, one-bedroom units also fell this month by (-2.97%), to a new average cost of $1,704/month.
At present, furnished units cost an average of $113 more per month to rent than unfurnished units, meaning 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 rose by just $15, bringing Edmonton’s average monthly rent price for an unfurnished, one-bedroom unit to $1,342 per month. An increase of $86 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 August and September 2024.
This September, average rent prices for furnished one-bedroom units increased the most in Southwest Edmonton (+4.56%), with two major decreases occurring in West Edmonton (-7.54%) and Downtown Edmonton (-4.42%). Prices for unfurnished one-bedroom units rose the most in West Edmonton (+5.51%), while the largest decrease occurred in Northeast Edmonton at (-4.26%).
Unfurnished vs furnished rates in Edmonton
In Edmonton, average monthly rent prices for unfurnished one-bedroom units increased (+1.10%), while prices for furnished one-bedroom units decreased by (-1.46%). As of September 2024, furnished units in Edmonton rent for an average of $255 more than unfurnished units, a decrease of $39 from last month. 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 September 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 for one-bedroom unfurnished units decreased in every quadrant except in Northeast Calgary.
- Rent prices have decreased across all types of furnished units in Northwest and Southwest Calgary.
- Calgary City Centre has the highest rental prices across all types of furnished and unfurnished units except for three-bedroom furnished units where Southwest Calgary is the most expensive.
Sector breakdown: Edmonton
- Prices have increased for one-bedroom unfurnished units everywhere except Northeast Edmonton.
- Downtown Edmonton, West Edmonton and Southwest Edmonton saw price increases across all types of unfurnished units.
- Prices decreased across all two- and three-bedroom furnished units in every area we have data for.
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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