New reports show cost of renting down in Calgary but up in Edmonton

Calgary renters are experiencing a slight decline in rental rates, with one-bedroom units averaging $1,692 in October 2024, down 0.9% from September and 2.2% from the previous year. Two-bedroom rentals also decreased to an average of $2,074. This decline is attributed to a surge in rental unit availability, with nearly 7,000 new units on the market. In contrast, Edmonton's rental costs are rising, with one-bedroom units costing $1,408, up 2.3% from September and 10.1% year-over-year. Fort McMurray shows mixed trends, with some declines in rental prices.