Calgary rent ranks 9th most expensive: Zumper

An apartment for rent sign is seen in this undated image. (Getty)

Calgary is one of the 10 most expensive cities to rent in Canada based on a new rent report.

According to Zumper, median rent prices for a one-bedroom were the most expensive in Vancouver at $2,650, despite their annual rent declining, while Calgary is at $1,830.

“Our Canadian national rent index showed that one bedrooms were down 0.1 per cent last month, to $1,890, while two bedrooms increased 0.6 per cent, to $2,349,” states the report.

“Annually speaking, both bedroom types were up about five per cent, which is similar to last month’s trends.”

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Credit education company, Borrowell surveyed more than 1,500 of its members in May, and discovered half of renters said their credit score isn’t strong enough to get the mortgage they want.

“Fifty-one per cent doubt they’ll ever own a home in Canada,” the Borrowell survey said.

“Ninety per cent of renters agreed that it’s harder for renters to purchase their first home today compared to their parents.”

Hoping to create conditions that are more favourable for renters across the country, Borrowell has launched a program, which it says is the first of its kind in Canada.

“Allowing renters to report up to 24 months of past rent payments to Equifax Canada with no landlord involvement required,” states Borrowell.

“By providing renters the ability to report past rental payment history, Canadians can finally benefit from their track record of responsible financial behaviour, and work towards building stronger credit and further financial stability.”