Calgary Rent Report, October 2026

Calgary's rental market softened again in October 2026 and remained the weakest of the large markets over the year. The average asking rent for apartments and condominiums was $1,806 per month, down 0.9% from September and 2.4% from a year earlier, according to the Rentals.ca and Urbanation National Rent Report published November 5, 2026. That annual drop was the largest among Canada's six largest rental markets, ahead of Edmonton (-1.3%). Rentals.ca also notes that Calgary added more new supply relative to its size over the past year than any other large market.

Calgary still sits below the national picture. Nationwide, the average asking rent for apartments and condos was $2,041 in October, and the average across all property types was $2,036, down 3.2% year over year in the 25th consecutive month of annual declines. That is the smallest annual decline since February 2026. Alberta apartment and condo rents fell 0.8% from September and were down 1.8% over the year, to $1,662.

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. Over longer spans, Calgary apartment and condo asking rents are down 9.5% over two years and 13.7% over three.

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 October 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, October 2026): $1,453 / month, up 0.76% from September and down 3.65% year over year
• 1 Bedroom, furnished (liv.rent asking, October 2026): $1,549 / month, up 0.63% from September and down 7.56% year over year
• 2 Bedroom (CMHC, Oct 2025): $1,908 / month
• 3 Bedroom+ (CMHC, Oct 2025): $2,118 / month

The furnished segment is still cooling fastest. A furnished one-bedroom now rents for about $96 a month more than an unfurnished one, compared with $167 a year ago. On Rentals.ca's apartment and condo measure, Calgary one-bedroom units averaged $1,605 (down 1.7% over the year), two-bedrooms $1,948 (down 2.8%) and three-bedrooms $2,302 (down 2.5%).

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, October 2026)

• City Centre: the priciest quadrant for an unfurnished one-bedroom at $1,521, up 2.15% from September
• Northeast: the most affordable quadrant at $1,319, after the largest monthly increase (4.03%), a $202 gap from City Centre
• Southeast: the quadrant with the largest monthly decrease, down 2.69%
• Year over year: all five quadrants were below October 2025, from a 0.36% decline in City Centre to a 7.35% decline in the Northeast

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

Elsewhere in Alberta (Rentals.ca, October 2026, apartment and condo asking rents)

• Red Deer: $1,413 per month
• Medicine Hat: $1,306 per month
• Fort McMurray: $1,290 per month

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, purpose-built rental apartments posted the smallest annual decline of the three property types in October, down 2.1% to $2,040, while condominium apartments fell 5.5% to $2,048, according to Rentals.ca.

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 3.5% over the year to $811 in October, according to Rentals.ca.

Rentals.ca's November report says Toronto and Vancouver are turning first. Both posted their first annual increase in apartment and condo asking rents after long runs of decline (32 months in Toronto, 34 in Vancouver). It says the markets that peaked first in 2023 are the first to stabilize, and that other markets are earlier in the same cycle. Calgary is not there yet: asking rents are 2.4% below a year ago, and the city added more new supply relative to its size than any other large market. With vacancy near 4.9%, renters should still have room to compare as the colder months arrive.

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 sit below last year
• 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 November 2026 report will publish on the last business day of November.