Calgary leads major Canadian cities for biggest drop in rent prices
It’s a good trend for some folks’ bank accounts in Calgary, with YYC leading all major Canadian cities when it comes to the biggest year-over-year drop in rent prices for one-bedroom rentals.
A new rent report from Zumper showed that Vancouver continues to lead the country as the most expensive city to rent in, though one-bedroom rent stayed stable last month at a median of $2,550.
Burnaby also overtook Toronto as the second priciest market for the first time, with one-bedroom rent climbing three per cent to $2,400.
Calgary came in at 14th place for rent prices and experienced the biggest rent price decline across major Canadian cities, falling 8.2 per cent since this time last year for a one-bedroom unit.
Zumper Rentals
Our pals up in Edmonton have seen a small rise in year-over-year one-bedroom rent prices, rising by 2.4 per cent to sit at $1,300. A two-bedroom unit in YEG is currently going for $1,600.
Our neighbours to the east are in a different situation, with Saskatoon and Regina seeing the second and third-highest rent climbs since this time last year, with 8.8 per cent and 7.8 per cent, respectively.
The Zumper Canadian Rent Report analyzes rental data from hundreds of thousands of active listings across the country. Listings are then aggregated on a monthly basis to calculate median asking rents for the top 23 most populous metro areas, providing a comprehensive view of the current state of the market.
Check out the full Canadian Rent Report.