Calgary residential rental rates have fallen by 6 per cent

Calgary rental rates declined by six percent year-over-year in January 2025, averaging $1,925. One-bedroom apartments fell to $1,600, the lowest in nearly two years, while three-bedroom apartments saw an 8.7 percent decrease to $2,412. Increased supply, slowing population growth, and changing renter preferences contributed to this trend. The city issued a record number of building permits in 2024, indicating a growing housing landscape. Rental rates are expected to continue decreasing in the short term, with the summer season being a critical period for demand.