Calgary Rent Prices: Tenant Relief as Rates Plunge
Calgary rental market sees a drop in prices, offering relief to tenants amid previous high surges.
CALGARY — As Calgary renters face lease renewals, the question of how much rents have increased remains a key concern. Recent discussions in online forums reveal a mix of personal experiences with rent changes for 1-year lease renewals, amidst broader market data indicating a decline in average rents. In January 2025, market reports from Emerald Management showed a 7.2% year-over-year decrease for two-bedroom apartments, while Rentals.ca highlighted a 9% drop by July 2025. These trends come as a relief in a city where the average rent previously surged by approximately 14.6% in 2023, coupled with a low vacancy rate of 1.4%.
The Deeper Context
Understanding Calgary's rental landscape requires a dive into the numbers and regulations governing it. The Alberta Residential Tenancies Act mandates a three-month notice for rent increases on month-to-month leases, but it does not impose rent control caps. This regulatory backdrop contributed to significant rent increases in 2023, with the Canada Mortgage and Housing Corporation (CMHC) confirming a 1.4% vacancy rate during that period. However, 2025 marked a shift, with predictions of further rent decreases between 6% and 8% as vacancy rates increased to 4.8-6%. These changes suggest a more tenant-favourable market, driven by a surge in housing supply and incentives like free rent, challenging the previous narrative of a tight rental market.
The Critics & Costs
While declining rents may benefit tenants, the absence of rent control caps remains a contentious issue. Tenant advocacy groups have yet to successfully push for stronger protections, such as those proposed in Alberta NDP's failed Bill 205 in 2024. Without formal proposals from organizations like ACORN Calgary in late 2025, renters remain vulnerable to potential market volatility. The lack of recent data on formal complaints about excessive rent increases further complicates the picture, though a softening market suggests fewer disputes. Despite these challenges, tenants may find some reprieve as landlords offer competitive pricing to fill vacancies.
Looking forward, Calgary's rental market is poised for continued evolution. As housing supply increases and the market adjusts, tenants and landlords alike must navigate these changes. The potential for future legislative action on rent controls remains uncertain, but ongoing monitoring of market trends and tenant experiences will be crucial in shaping Calgary's housing landscape.
