Rent prices in Calgary take one of the biggest jumps in Canada, rising 22%

Rent prices in Calgary jumped huge last month, with the average price for a condo or apartment rising over 20%.

According to the latest report from Rentals.ca, Calgary saw a 22.7% increase in the price to rent a condo or apartment in January. That is the second-highest jump in the country behind only Vancouver at 22.9%.

Rentals.ca

Calgary’s price jump means as a province, Alberta experienced the highest annual rent increase for condo rentals and apartments in January with 14.6%, closely followed by BC at 14.4%. Ontario placed third with average annual rents up 13.5 %.

The news that rent prices are going up in YYC is part of a lose-lose situation as housing prices in Calgary didn’t see the same drop some of our Canadian cousins did.

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Overall, the average price for a one-bedroom rental in Calgary is now at $1,526 with a two-bedroom coming in at $1,894. That means the average rent price in Calgary is running people $20,520 annually.

Now for the “it could always be worse” portion of the story: a lot of places are more expensive than Calgary. Even with the rent increases, Calgary comes in at 26th in the country for rent prices.

Rentals.ca

The usual suspects hold on to the top spots with Vancouver and Toronto at one and two, respectively. Ontario and BC maintain the top 20 most expensive cities before Halifax pops in at 21.

There are a few Alberta spots that actually came in cheaper than Calgary with Edmonton, Lethbridge, Red Deer, and Grand Prairie all lower on the list.