The cost to rent a one-bedroom apartment in Calgary has gone up by 13%
A new rent report from Zumper has revealed that Calgary’s rent has continued to climb year-over-year, with some pretty drastic percentage increases recorded.
The cost to rent a one-bedroom apartment in the city is now 13% higher than in February of last year, coming in at an average of $1,820 a month. The cost to rent a two-bedroom apartment increased by 18%, at an average of $2,120 per month.
While those numbers may be staggering, they still pale in comparison to the increases seen by our neighbours to the north in Edmonton.
According to the report, Edmonton has the fastest year-over-year rent growth in the country.
While the city is still found pretty low on the rent list (#21) it has seen a shocking increase in prices. On average, a one-bedroom costs $1,270 per month, which is a 1.6% increase month-over-month, and a massive 27% increase from February 2023 to February 2024.
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The Canadian Rent Report from Zumper saw Vancouver remain at the top of the list, with a one-bedroom going for a staggering $2,700 per month, while a two-bedroom costs an average of $3,800.
Alberta is one of a handful of Canadian provinces that does not have a rent control policy, and there are no limits to how much a landlord may increase the rent. However, there are some rules in the Residential Tenancies Act on how and when rent can be increased.
Zumper
In neighbouring BC, which has the highest rental prices in the country, rent control policies limit annual rent increases for tenants, currently capped at 3.5%.
Listings are then aggregated monthly to calculate median asking rents for the top 23 most populous metro areas.
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