Calgary's rental market is finally cooling compared to previous years
Average rent prices are dropping across Canada’s major cities, including Calgary, which saw a 5.9 per cent decrease for one-bedroom compared to last year.
Rentals.ca recently released its October 2025 rent report, showing that Calgary’s rental market is continuing to cool.
As of October 2025, one-bedroom units have an average rent of $1,675, a 5.9 per cent decrease from last year, while two-bedroom units have fallen seven per cent from 2024, now sitting at $2,068.
Calgary ranked as the 43rd most expensive city in Canada, while North Vancouver topped the list with average rent sitting at $2,570 for a one-bedroom unit, followed by Vancouver and Toronto, both with averages above $2,290. St. John’s is sitting at the bottom of the list with one-bedroom units averaging $1,015.
Ramon Cliff/Shutterstock
According to Rentals.ca’s October 2023 report, Calgary’s one-bedroom units averaged at $1,730, and two-bedroom units at $2,182, slightly higher than what is being reported today.
Nationally, average rents fell 3.2 per cent across Canada, with one-bedroom units averaging $1,836, slightly lower than the $1,889 national average in October 2023. This represents the 12th consecutive month of year-over-year declines, according to the report.
Before this slowdown, national rents had risen for 38 consecutive months. The last extended period of consecutive declines happened between May 2020 and July 2021, during the COVID-19 pandemic.
“The latest rent declines have coincided with record high apartment completions, population decreases for non-permanent residents, and a weakening job market,” according to the report.
If you want to learn more about how the housing market is shaping up in and around Calgary, we’ve covered detached home price drops across the city, the most and least expensive neighbourhoods to buy in, and how two areas around Calgary are seeing surges in inventory levels.