Calgary Housing: An Overview of Rental Market Trends

As Calgary continues to grow and evolve, so does its housing market. Whether you're a renter looking for a new place to call home or a property investor exploring new opportunities, understanding the rental market trends in Calgary is essential. At Robert LeBlanc Property Management & Real Estate, we’re committed to helping both tenants and property owners navigate this dynamic landscape. In this article, we'll provide an overview of the current rental market trends in Calgary, Alberta, so you can make informed decisions.
Understanding Calgary’s Rental Market Landscape
Calgary, known for its robust economy and vibrant lifestyle, has always been a popular destination for families, professionals, and students alike. However, like any major city, Calgary's rental market is influenced by a variety of factors, including economic conditions, population growth, and shifts in housing demand.
Key Factors Influencing Calgary’s Rental Market
- Economic Resilience and Job Market: Calgary’s economy has traditionally been driven by the oil and gas industry. However, in recent years, there has been a diversification into technology, healthcare, and other sectors, creating more job opportunities and attracting newcomers to the city.
- Population Growth: Calgary has seen steady population growth, partly due to its appeal as a livable city with a high quality of life. This influx has increased demand for rental properties, especially among young professionals and families.
- Interest Rates and Homeownership: Rising interest rates have made homeownership less affordable for many, pushing more people into the rental market. As a result, rental demand has increased, driving up prices in certain neighborhoods.
- New Construction and Inventory: The construction of new rental units, including purpose-built rentals and condos, has helped stabilize the market to some extent. However, demand continues to outpace supply in some areas, leading to competitive rental conditions.
Current Rental Market Trends in Calgary
Let’s take a closer look at some of the key trends shaping Calgary's rental market today.
1. Rising Rental Prices
Over the past year, Calgary has experienced a noticeable increase in rental prices. According to recent reports, the average rent for a one-bedroom apartment in Calgary is around $1,500 per month, while two-bedroom units are averaging closer to $2,000. This upward trend is partly driven by increased demand and limited inventory in popular neighborhoods.
Why Are Rents Increasing?
- Higher Demand: As more people move to Calgary for job opportunities, demand for rental units has surged, particularly in desirable areas like Beltline, Kensington, and Inglewood.
- Inflation and Operating Costs: Landlords are facing higher costs related to property maintenance, utilities, and insurance, which are being passed on to tenants in the form of higher rents.
2. Increased Demand for Condo Rentals
Calgary’s condo market has seen a surge in demand, especially among young professionals who prefer the urban lifestyle and amenities that condos offer. With many opting to rent rather than buy due to rising mortgage rates, condo rentals have become a hot commodity.
Popular Condo Features:
- Access to fitness centers, swimming pools, and other amenities.
- Proximity to downtown, public transit, and entertainment options.
- Modern interiors and high-end finishes.
3. Shift Towards Suburban Living
While inner-city living remains popular, there's been a noticeable shift towards suburban areas. Communities like Airdrie, Cochrane, and Okotoks are becoming increasingly attractive to families and those seeking more space. These areas offer affordable rental options, larger homes, and a quieter lifestyle while still being within commuting distance to Calgary’s core.
Benefits of Suburban Rentals:
- More spacious living with access to parks and outdoor activities.
- Lower rental prices compared to downtown Calgary.
- Family-friendly neighborhoods with schools and community centers.
4. Growing Interest in Pet-Friendly Rentals
There’s been a growing demand for pet-friendly rental properties, as more families and individuals welcome pets into their households. Landlords who are willing to accommodate pets may benefit from higher rental rates and longer lease terms, given the limited availability of pet-friendly units.
Key Considerations for Pet-Friendly Rentals:
- Pet deposits and additional fees.
- Amenities like nearby parks or pet-friendly areas.
- Durable flooring and yard space.
Tips for Renters in Calgary’s Competitive Market
Navigating Calgary's rental market can be challenging, especially with rising rents and high demand. Here are some tips for renters looking to secure the best deals:
- Start Your Search Early: Begin your rental search at least 2-3 months before your move-in date to have access to the best listings.
- Be Ready to Act Quickly: With high competition, desirable properties can be rented out within days. Be prepared to make decisions quickly and have your documentation ready.
- Consider Expanding Your Search Area: If you’re struggling to find the perfect rental in your desired neighborhood, consider looking in adjacent areas that offer similar amenities but at a lower price point.
- Work with a Property Management Company: Partnering with experts like Robert LeBlanc Property Management & Real Estate can help streamline your search, providing you with access to exclusive listings and professional guidance.
Advice for Property Owners and Investors
If you’re a property owner or investor looking to capitalize on Calgary’s rental market, here are some strategies to maximize your returns:
- Update Your Property: Investing in modern upgrades and amenities can attract high-quality tenants willing to pay premium rents.
- Focus on Desirable Features: Highlight features like in-suite laundry, updated kitchens, and proximity to public transit to attract renters.
- Consider Short-Term Rentals: If your property is located in a prime area, short-term rentals (like Airbnb) can provide higher rental income, especially during peak seasons.
Final Thoughts
Calgary’s rental market is dynamic, with rising demand, shifting preferences, and economic factors shaping the landscape. Whether you’re a renter, property owner, or investor, staying informed about current trends can help you make the best decisions.
At Robert LeBlanc Property Management & Real Estate, we specialize in helping Calgary residents find the perfect rental properties and guiding property owners in maximizing their investments. Contact us today to learn more about our services and how we can assist you in navigating Calgary’s rental market with ease.









