Calgary, AB – The cost of rent in Calgary has increased in the month of June, but it still remains lower than other major cities in Canada.
According to the latest report from Rentals.ca, the average rent for a one-bedroom apartment in Calgary rose by 1.4% to $1,247, while the average rent for a two-bedroom apartment increased by 1.2% to $1,486.
Despite this increase, Calgary’s rental prices are still significantly lower than other major cities in Canada. In fact, Calgary ranks 11th out of 35 cities in terms of average rent for a one-bedroom apartment, and 12th for a two-bedroom apartment.
Toronto and Vancouver continue to hold the top spots for the highest rental prices in Canada, with average rents for a one-bedroom apartment at $2,300 and $2,000 respectively. This is more than double the average rent in Calgary.
The report also showed that the most expensive neighbourhoods in Calgary for rent are Eau Claire, Downtown West End, and Beltline, with average rents for a one-bedroom apartment ranging from $1,500 to $1,700.
On the other hand, the most affordable neighbourhoods for rent in Calgary are Forest Lawn, Marlborough, and Penbrooke Meadows, with average rents for a one-bedroom apartment ranging from $900 to $1,100.
Experts attribute the increase in rent prices to the improving economy in Calgary, as well as the influx of people moving to the city for job opportunities. However, they also note that the rental market in Calgary is still relatively stable compared to other major cities in Canada.
Despite the increase in rent prices, there are still options for affordable housing in Calgary. The city offers a variety of rental assistance programs for low-income individuals and families, as well as initiatives to increase the supply of affordable housing.
In conclusion, while the cost of rent in Calgary has risen in June, it remains lower than other major cities in Canada. With the city’s efforts to provide affordable housing options, there are still opportunities for individuals and families to find affordable rental accommodations in Calgary.
