New reports show cost of renting down in Calgary but up in Edmonton [Video]

There’s some good news for Calgary renters with the latest information on rental rates in Alberta showing the cost of rental units in the city has declined slightly.

However, renters in Edmonton aren’t so lucky with new info showing the cost of rentals in the capital city are up, in some cases by double digits.

The October 2024 national rent report from rentals.ca shows the cost of a one-bedroom unit in Calgary in October 2024 was $1,692. — that’s down .9 per cent compared with September 2024 and down 2.2 per cent compared with October 2023.

The price of some two-bedroom rentals declined even more, with the average cost of $2074. down .9 per cent in October 2024 compared to September 2024 and down 4.9 per cent compared with October 2023.

A major factor contributing to the decline, according to Canada Mortgage and Housing Corporation economist Taylor Pardy, is a surge in rental unit availability, more than tripling.

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