Calgary Rental Market: Calgary Rent Report: Vacancy Surges, Landlords Scramble
Rent softens as supply surges—but $2,025 studios still punish
CALGARY — Calgary rental prices for one-bedroom units hit $2,107 this week, as a surge in new housing supply continues to soften the market and shift negotiating power toward tenants.
The Studio Squeeze
Studios are listed at $2,025—still a punishing price for anyone trying to carve out their own space in this city. The new supply might be cooling the fever, but the cost of entry remains brutal for renters scraping together first and last.
The Two-Bedroom Trap
Two-bedroom units clock in at $2,899, while three-bedrooms barely budge higher at $3,040. That narrow $141 gap tells the story: families aren't biting. Demand for larger units is collapsing as renters either can't afford the jump or won't pay premium rates for marginal extra space. Units with four or more bedrooms? Nonexistent in the data—either nobody's building them or nobody's listing them.
The Landlord Reality Check
Calgary's purpose-built rental vacancy rate has climbed to 5-6% in early 2026, a sharp rise from the 1-2% lows that defined the landlord feeding frenzy of 2023-2024. Record-setting housing completions in 2024 and 2025 flooded the market with new units. Alberta set a new provincial housing starts record in 2025, the same year Calgary's own housing starts jumped 14%.
Landlords are now offering free months of rent and waiving fees just to keep occupancy from cratering. The provincial government continues to bet on supply over rent control, and for now, the data suggests that strategy is working—if your definition of "working" includes forcing property owners to compete instead of coast.
The Friction Flips
Tenants finally have leverage. Landlords are scrambling. But don't mistake a cooling market for an affordable one. A $2,025 studio is still a financial gauntlet for most residents, and the renters gaining negotiating power today are the same ones who spent years getting squeezed. The market may be shifting, but the price of admission remains steep.
Next rent checks are due April 1.
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