Rent is almost as expensive in Calgary as Kelowna now
The latest rent numbers are out and it is another month with a massive jump in the price of rentals in Calgary.
The latest rent prices report from Zumper is out and Calgary has taken another huge jump.
The biggest area Calgary jumped was in one-bedrooms where the price increased a mind-blowing 42.3% from this time last year.
The average price for a one-bedroom in Calgary is now $1,750 while a two-bedroom will now cost you an average of $1,940 per month.
Not only are those numbers up year over year but they increased over the last month as well.
The average one-bedroom went up 6% from last month, while a two-bedroom increased by 1% from last month.
These increases moved Calgary up four spots and we are now in the top 10 for most expensive places to rent in Canada, tied with Ottawa.
For a long time in Calgary, we’ve looked out west and had a chuckle at the prices on the west coast.
Well, now we are catching up, and not in a good way. The average rent price for a one-bedroom place in Calgary is now just $50 behind Kelowna.
Zumper
Up north in Edmonton, one-bedroom rent climbed 5.8%, to $1,090. That moved them up one spot to become the 22nd priciest market.
Nationally, with the vacancy rate for rentals at less than 2%, the demand in Canada has continued to outpace the available supply, which has led to spiking rents in most of the cities.
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Vancouver remains the most expensive place in the country to rent with a one-bedroom costing $2,600 and a two-bedroom coming in at $3,800.
Fellow BC city Burnaby came in third place while Toronto finishes between them in second.
Calgary joins Halifax as the only two cities in the top 10 to not be located in BC or Ontario.