Rent prices in Calgary are now comparable to Vancouver in 2016

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Calgary rent prices have jumped in 2024 and at a going rate of more than $1,800 for a one-bedroom, it got us wondering when Vancouver last saw those prices.

A recent report from Zumper found Calgary in 12th place, with a one-bedroom costing $1,810, a 3.4% increase year-over-year.

That got us wondering when Vancouver, which currently sits in first place with a one-bedroom costing a whopping $2,660, last saw its price for a one-bedroom at the $1,810 mark.

We reached out to Zumper and were told that the last time YVR was sitting where YYC is in terms of the price of rent was back in October 2016.

Zumper

Despite a slight month-over-month drop for both one- and two-bedroom units in Calgary, the cost of a two-bedroom unit in Calgary went up 7.2% since this time last year.

That number might make the city look even more appealing than Alberta’s capital city, with Edmonton once again seeing the largest growth rate, at a whopping 23.9% this year.

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The report also revealed national trends and found rents in Canada’s three most expensive markets increased for the first time in over six months.

Vancouver, Toronto, Burnaby, Victoria and Halifax saw the most expensive rental prices in Canada with most sitting above $2,000 a month for a one-bedroom.

Overall, rent increased in 13 cities, remained steady in three, and fell in seven. Zumper attributes the summer season as a major factor behind the current trends.

“It seems rent prices across many Canadian cities are beginning to pick up again as we head into the warmer months and renters begin to move, creating more demand and competition,” the report reads.

The information is based on data from hundreds of thousands of listings in April to examine median rent prices across the 23 largest cities in the country.