Rental rates in Calgary, as well as throughout the majority of Canada, continue to decrease.
A new report from Rentals.ca shows that September saw Calgary’s year over year rate drop by 1.5%, making it the 24th most expensive on the group’s list of 35 Canadian cities.
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Unsurprisingly, Vancouver and Toronto topped the list for apartments and condos with average monthly rental rates of $2,249 and $2,158, respectively.
The report also found that single family homes in Calgary were larger on average than those in Vancouver, Toronto, and Montreal, housing 3.6 bedrooms on average compared to 2.7, 2.5, and 2.8 bedrooms for the larger cities.
That extra space is ideal for the new normal we’ve found ourselves in during the pandemic, notes Rentals.ca CEO Matt Danison in a release.
“Many prospective tenants desire more space as they work from home,” he said.
“We encourage our clients to highlight any extra space such as a den which can be used for office space or amenities such as fast internet, which can make working from home easier.”
Nationally, the average rent of a one-bedroom apartment comes in at $1,400 while a two-bedroom sits at $1,734.
Calgary’s current rates come in a few hundred below at $1,195 and $1,476, respectively.
The Alberta city of Lloydminster found itself as the most affordable on the list, with a one-bedroom average of just $737 and two-bedroom at $885.