Calgary finally sees a much-needed drop in rent prices

Calgarians seeking new apartments can rejoice as rent prices have decreased. The latest report from Rentals.ca shows that the average rent for a one-bedroom apartment in Calgary is $1,692, down 0.9% from last month and 2.2% from last year. Two-bedroom apartments average $2,074, reflecting a 0.9% monthly drop and a 4.9% annual decrease. Despite these reductions, Calgary remains the most expensive rental city in Alberta, with Edmonton following closely behind. Nationally, the average asking rent for all residential properties is $2,193.