Calgary Rental Market
Report 2026
Average rents by neighbourhood, vacancy rates, and market trends — updated quarterly by the UrbanLease team. Data sourced from CMHC, active listings, and our managed portfolio.
Last updated: March 2026
Avg. 1-Bedroom Rent
$1,619
-5% YoY YoY
Avg. 2-Bedroom Rent
$1,908
-4% YoY YoY
Citywide Vacancy Rate
5.0%
+0.4% YoY YoY
Calgary Population
1.56M
+2.9% YoY YoY
Average Rent by Calgary Neighbourhood
Monthly asking rent for typical units. Q1 2026 data.
| Neighbourhood | Studio | 1 Bed | 2 Bed | Market |
|---|---|---|---|---|
| Beltline | $1,275 | $1,620 | $2,050 | Warm |
| Mission | $1,225 | $1,575 | $2,000 | Warm |
| Kensington | $1,175 | $1,525 | $1,950 | Stable |
| Inglewood | $1,125 | $1,475 | $1,875 | Stable |
| Marda Loop | $1,150 | $1,500 | $1,925 | Stable |
| Evanston | $975 | $1,325 | $1,725 | Stable |
| Nolan Hill | $1,025 | $1,375 | $1,775 | Stable |
| Mahogany | $1,075 | $1,435 | $1,850 | Warm |
| Auburn Bay | $1,025 | $1,375 | $1,775 | Stable |
| Legacy | $975 | $1,325 | $1,700 | Stable |
| Sage Hill | $1,025 | $1,335 | $1,735 | Stable |
| Tuscany | $975 | $1,315 | $1,695 | Stable |
| Panorama Hills | $950 | $1,285 | $1,655 | Stable |
| McKenzie Towne | $975 | $1,325 | $1,695 | Stable |
| Bridgeland | $1,225 | $1,565 | $1,975 | Warm |
| Varsity | $1,000 | $1,345 | $1,745 | Stable |
| Hillhurst | $1,150 | $1,495 | $1,900 | Warm |
| Altadore | $1,100 | $1,450 | $1,875 | Warm |
| Cougar Ridge | $1,000 | $1,345 | $1,750 | Stable |
| Royal Oak | $975 | $1,320 | $1,710 | Stable |
* Estimates based on active listings, CMHC data, and UrbanLease managed properties. Individual rents vary by unit condition, floor, and amenities.
Surrounding Cities — 2026 Rents
Calgary metro area average monthly rents and vacancy rates.
Airdrie
Cochrane
Okotoks
Chestermere
Strathmore
Key Market Trends — 2026
Vacancy at 5% — renters have more negotiating power in 2026
Calgary's purpose-built rental vacancy rate reached 5.0% in October 2025 (CMHC), up sharply from 1.4% in 2023. Record new supply — over 7,000 units delivered in 2024 and rental supply growing 11% in 2025 — has shifted the market toward renters. Landlords, particularly in newer apartment buildings and the NE quadrant, are offering incentives like first month free and flexible deposits to attract tenants.
Inner-city and SW communities holding firm
Not all sub-markets are equally soft. SW Calgary maintains the lowest vacancy and highest average rents among all quadrants. Walkable inner-city communities like Bridgeland, Mission, Marda Loop, and Hillhurst continue to outperform as tenants prioritize transit access and walkability. Single-family and townhouse rentals also remain tight, as new construction has been almost entirely concentrated in apartment formats.
Apartment rents softest — 3-bedrooms still hold value
The correction is concentrated in apartment-style condos, where YoY asking rents are down 4–8% (Zumper, Q1 2026). CMHC purpose-built data shows 1-beds at $1,581/month and 2-beds at $1,908/month. Townhouses and single-family homes face far less supply pressure, keeping 3-bedroom rents ($2,175–$2,700/month) relatively stable. Calgary still sits 33–45% cheaper than Toronto and Vancouver equivalents.
Population growth remains strong — long-term fundamentals intact
Calgary reached 1.56 million residents in 2025, growing at +2.9% — tied for highest among all major Canadian cities (Statistics Canada). While federal study permit cuts have reduced international student arrivals, interprovincial migration from Ontario and BC remains the dominant driver. The ~26,000 units under construction are expected to be absorbed as population growth continues. Market balance is projected to return by 2027.
Condo benchmark down 9.3% — buying opportunity for investors
The apartment condo benchmark price in Calgary fell to $298,600 in February 2026 (CREB), down 9.3% year-over-year — the steepest decline among all Canadian cities. With 4.6 months of supply and investor demand retreating, buyers hold significant negotiating power. For long-term investors, this represents entry at a generational discount relative to Toronto ($626,650 avg) and Vancouver ($739,258 avg) condos.
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