Calgary Multi-Family Market Report – Q3 | 2023
Calgary Multi-Family Current Market Trends
Calgary’s rental market is expanding more rapidly than any other major Canadian city. In the ever-evolving landscape of Canadian real estate, Calgary has emerged as a city witnessing unprecedented growth in its rental market. Surpassing all other major cities in Canada, Calgary’s rental market has been expanding at a remarkable pace, with annual rental costs seeing an impressive uptick of 17.3%.
According to a recent report, the month of July showcased a staggering year-over-year increase in the average monthly rent for a one-bedroom apartment, soaring by 17.2% to reach $1,718. Similarly, the rent for a two-bedroom apartment surged by 16.9% to an average of $2,121 per month. Furthermore, the data revealed that rent in Calgary increased nearly two percent between June and July alone.