Calgary sees the biggest rent price drop in the country | Daily Hive

This summer brings more good news for Calgary renters. Rent prices have dropped in the city for another month in a row, with Calgary seeing some of the biggest price declines in the country.

While rent prices have been steadily coming down compared to the previous year, we are starting to see a slight uptick across the rest of Canada.

According to Zumper’s June Canadian Rent Report, Canada’s median one-bedroom rent rose 0.2 per cent in the past month to $1,520, while two-bedroom rent increased 0.3 per cent to $1,907. Compared to last year, one-bedroom rent is up 1.1 per cent, while two-bedroom rent has risen 2.3 per cent.

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But there are a few exceptions. Unlike other Canadian cities, Calgary saw the biggest annual drop in rental prices for one-bedroom apartments and a hefty dip for two-bedroom units.

Here’s what renting in Calgary looks like as of June.

Renting in Calgary

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One-bedroom rent: Compared to the previous month, rent in Calgary dropped by 2.4 per cent and a whopping 12 per cent compared to this time last year.

That brings the average rent for a one-bedroom apartment to $1,610 per month.

Two-bedroom rent: When looking at last month, rent price for a two-bedroom unit in Calgary went down by 2.5 per cent. If you compare that to last year, rents have gone down a total of 11.8 per cent.

That makes the average rent for a two-bedroom about $1,940 per month.

The only other Canadian city to beat those numbers is Kingston, Ontario, with asking rent for a two-bedroom dropping 15.2 per cent compared to last year. Although it has increased compared to last month, making it unclear how long this reprieve will last.

Canada’s five most expensive markets

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Calgarians are probably feeling pretty good right now. If you were curious, here’s what rent looks like in Canada’s most expensive cities, three of which are in the same province. Can you guess where?

Vancouver, B.C.
We doubt anyone will be shocked to hear that Vancouver remains the most expensive city in Canada. One-bedroom rents are currently going for $2,520, with two-bedroom at $3,490 per month.
Burnaby, B.C.
Just outside of the greater Vancouver area is the second most expensive city of Burnaby. You can expect rent for a one-bedroom to cost you $2,350 per month, and $2,860 for a two-bedroom.
Toronto, Ont.
If you were waiting for it, Toronto still makes the list at number three. Renting a one-bedroom will cost you around $2,260 per month, and $2,850 for a two-bedroom.
Victoria, B.C.
Over on Vancouver Island is the fourth most expensive city of Victoria. One-bedroom rental prices are hovering around $2,160 per month, while rent for a two-bedroom comes in at $2,890.
Halifax, N.S.
Last but not least, Halifax comes in as the fifth most expensive city to rent in Canada, with one-bedroom listings averaging $2,100 per month and $2,510 for a two-bedroom.

You can check out the full Zumper Canadian Rent Report online.

Have you noticed a difference in Calgary’s rental market this year? Let us know in the comments below.