Calgary Rent Report, August 2026

Calgary's rental market kept softening through August 2026. The average asking rent for apartments and condominiums was $1,825 per month, down 0.2% from July and 4.5% from a year earlier, according to the Rentals.ca and Urbanation National Rent Report published September 9, 2026. That annual drop was the largest among Canada's six largest rental markets, and Calgary and Toronto were the only two of those markets where rents fell from July to August.

Calgary still sits below the national picture. Nationwide, the average asking rent for apartments and condos was $2,040 in August, and the average across all property types was $2,035, down 4.8% year over year in the 23rd consecutive month of annual declines. Alberta apartment and condo rents fell 4.3% over the year, one of the largest provincial declines alongside B.C. and Ontario.

Vacancy has climbed sharply over the past two years. The Canada Mortgage and Housing Corporation (CMHC) recorded a purpose-built rental vacancy rate of 4.9% in October 2025, up from just 1.4% in 2023. That shift toward balance is the backdrop for the year-over-year rent declines Calgary is now seeing.

The table below shows CMHC's in-place averages for Calgary's existing purpose-built stock as of October 2025. For a current read on one-bedroom asking rents, liv.rent's August 2026 report tracks unfurnished and furnished listings separately.

• Studio (CMHC, Oct 2025): $1,438 / month
• 1 Bedroom (CMHC, Oct 2025): $1,581 / month
• 1 Bedroom, unfurnished (liv.rent asking, August 2026): $1,465 / month, down 7.46% from $1,583 a year earlier
• 1 Bedroom, furnished (liv.rent asking, August 2026): $1,576 / month, down 16.96% from $1,898 a year earlier
• 2 Bedroom (CMHC, Oct 2025): $1,908 / month
• 3 Bedroom+ (CMHC, Oct 2025): $2,118 / month

The furnished segment has cooled fastest. A furnished one-bedroom now rents for about $111 a month more than an unfurnished one, and its annual decline is more than double the unfurnished drop. Both asking-rent series point the same way as Rentals.ca's citywide figure: Calgary rents are lower than they were a year ago.

Central and inner-city neighbourhoods continue to command the highest rents in Calgary. Walkable communities near transit, Bridgeland, Mission, Marda Loop, Hillhurst, and the Beltline, have historically drawn strong demand from young professionals and downtown workers.

One-bedroom asking rents by quadrant (liv.rent, August 2026)

• Southwest: the priciest quadrant for an unfurnished one-bedroom at $1,556, up 1.86% from July
• Northeast: the most affordable quadrant at $1,320, down 2.27% from July

Highest-priced neighborhoods

• Beltline, walkable core with premium amenities
• Mission, mature inner-city, boutique shopping
• Downtown / Downtown East, office core, transit hub
• Kensington, inner NW, restaurant scene
• Bridgeland, inner NE, walkable community
• Marda Loop / Hillhurst, established inner-city, family-friendly

Best-value areas

• Northeast Calgary, Falconridge, Marlborough, Whitehorn, Forest Lawn, Dover typically offer the lowest per-bedroom rents in the CMA
• Outer SE and NW, newer master-planned communities with more supply, moderate rents

Neighborhood-level rent averages fluctuate month to month based on listing mix. For in-place rents by area, see the CMHC neighborhood rent tables which are updated on CMHC's schedule.

New supply is the main reason Calgary's vacancy has normalized from the extreme tightness of 2023. Nationally, Rentals.ca's September report names the record volume of apartment completions underway as one of the near-term headwinds for rents, and purpose-built rental apartments continued to post the smallest declines of any property type, down 3.3% to $2,038.

Vacancy by unit type (CMHC, October 2025)

• Studio: 6.0%
• 1 bedroom: 4.3%
• 2 bedroom: 5.6%
• 3 bedroom or more: 3.8%
• Overall: 4.9%

Vacancy trajectory

• 2023: 1.4% (extreme tightness)
• October 2025: 4.9% (CMHC actual)

Shared accommodation is cooling too. The average asking rent for a room in Calgary fell 7.6% over the year to $807, according to Rentals.ca.

Rentals.ca describes the national outlook as increasingly uncertain. Its September report points to new US tariffs and Canadian counter-tariffs, the record volume of apartment completions and a declining population as near-term headwinds, partly offset by pent-up demand entering the market as affordability improves. For Calgary, with vacancy near 4.9% and asking rents still falling, that mix favours continued softness rather than a quick rebound.

Because Alberta has no rent control, there is no cap on how much rent can rise between tenancies. Alberta.ca confirms there is no limit on the amount of an increase, but rent can only go up once every 365 days and never during a fixed term, and a month-to-month tenant must get three full tenancy months of written notice.

What this means for renters

• More inventory to compare than at any point since 2023
• Room to negotiate rent or lease terms while asking rents keep falling
• Best value continues to sit outside the core, especially in the Northeast
• Insist on a written move-in inspection to protect your deposit

What this means for landlords

• Realistic pricing matters, overpricing costs 30+ days of vacancy in most segments
• Quality photos and detailed listings win the competition for eyeballs
• Small concessions (waived deposit, flexible move-in) close deals faster than deep discounts
• Renewals are cheaper than turnover, offer existing tenants a fair renewal rate

SQRFT's September 2026 report will follow the next Rentals.ca National Rent Report, which covers September data.