Calgary Rent Report, September 2026

Calgary's rental market held close to August's level in September 2026 but remained the weakest of the large markets over the year. The average asking rent for apartments and condominiums was $1,823 per month, down 0.1% from August and 3.9% from a year earlier, according to the Rentals.ca and Urbanation National Rent Report published October 7, 2026. That annual drop was the largest among Canada's six largest rental markets, ahead of Edmonton (-3.2%).

Calgary still sits below the national picture. Nationwide, the average asking rent for apartments and condos was $2,038 in September, and the average across all property types was $2,034, down 4.2% year over year in the 24th consecutive month of annual declines. Alberta apartment and condo rents rose 0.3% from August but were down 3.4% over the year.

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 September 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, September 2026): $1,442 / month, down 5.3% year over year and down from $1,465 in August
• 1 Bedroom, furnished (liv.rent asking, September 2026): $1,539 / month, down 13.5% year over year and down from $1,576 in August
• 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 $97 a month more than an unfurnished one, and its annual decline is more than double the unfurnished drop. liv.rent notes that unfurnished one-bedroom asking rents have stayed in a narrow band of $1,440 to $1,469 since April. On Rentals.ca's apartment and condo measure, Calgary three-bedroom units fell 0.9% over the year to $2,376.

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, September 2026)

• Southwest: the priciest quadrant for an unfurnished one-bedroom at $1,521, after the second largest monthly decrease among quadrants
• Northeast: the most affordable quadrant at $1,268, after the largest monthly decrease
• Southeast: the only quadrant where unfurnished one-bedroom rents rose from August
• City Centre: the only quadrant where furnished one-bedroom rents rose, up 2.54% to $1,916, the highest one-bedroom rent in either Calgary or Edmonton

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

Around Calgary (Rentals.ca, September 2026)

• Airdrie: up 4.6% over the year, one of the notable annual gains Rentals.ca highlighted across the country

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 any property type in September, down 2.7% to $2,036, while condominium apartments fell 7.8% to $2,052, 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 4.7% over the year to $810 in September, according to Rentals.ca.

Rentals.ca's October report describes the second consecutive monthly dip in national rents as a typical seasonal occurrence, with demand ramping up in the spring and summer and fading into the fall. It sees signs of stability emerging in Toronto and Vancouver, citing peaked construction inventory and new data revisions showing that a previously reported decline in population was actually a modest increase. In the near term, it says more affordable rents and move-in incentives are releasing pent-up demand from delayed household formation. For Calgary, where vacancy sits near 4.9% and asking rents remain below last year's level, renters should still have room to compare heading into the slower fall months.

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 October 2026 report will follow the next Rentals.ca National Rent Report, which covers October data.