Rent in Calgary climbs in June, but remains far from the highest in Canada

For rent sign (Getty Images stock photo)

A new report suggests that while rental prices in Calgary climbed last month, they remain lower here than in many other Canadian cities.

According to the June 2024 rent report from Urbanation and Rentals.ca, average asking rents for all residential property types in Canada rose to an average of $2,185 in June, a seven per cent year-over-year increase, but the slowest annual growth rate in 13 months.

In Alberta, the average listed rent price climbed to $1,798 in June, up from $1,787 in May and a 16 per cent increase from the year before, but still lower than the national average.

The Northwest Territories, Quebec, Atlantic Canada, B.C. and Ontario all had higher average listed rent prices than Alberta.

Average Listed Rent by Province and Unit Type for Apt. and Condo Listings: June 2024. (rentals.ca)

Calgary rent

Calgary placed 23th on the report's national rent rankings for June 2024, which lists average rental prices for 35 cities across the nation.

According to the list, Calgary's average price for a one-bedroom rental was $1,743 a month, up 0.5 per cent from the month before and 3.3 per cent year over year.

The average price for a two-bedroom rental in Calgary sat at $2,145 in June, up 0.2 per cent month-over-month and 2.8 per cent from a year before. 

Apartment rentals

Elsewhere in Alberta, Lloydminster maintained its lead as Canada’s fastest-rising rental market with annual apartment rent growth of 29.6% in June. 

Other cities in Alberta that ranked among the top 25 for rent growth include Grande Prairie (+24.5 per cent), Lethbridge (+14.7 per cent), Fort McMurray (+9.5 per cent), Medicine Hat (+6.8 per cent) and Red Deer (+4.8 per cent).

“All other large cities in Canada recorded annual rent increases for shared accommodations, led by 8.8 per cent growth in Calgary to an average of $916,” said the report.