City sees largest year-over-year rental decline for one-bedroom units
Renters in Calgary are catching a break this spring as the city recorded one of the largest year-over-year declines in rental costs across Canada, according to a new report from Zumperrentals.com.
The online rental marketplace analyzed average rents for one- and two-bedroom apartments across 23 Canadian cities. In Calgary, the average rent for a one-bedroom suite in April was $1,650 per month, marking a nearly 10% decrease compared to April 2024. The report also noted that rental costs for one-bedroom units remained flat from March 2025.
For two-bedroom apartments, Calgary’s average rent fell about 5% year-over-year to $1,990, with a slight month-over-month decline from March.
The report highlighted that Calgary’s one-bedroom rental decline was the largest among all markets tracked, followed by Kingston, where rents dropped nearly 8%, and Toronto, which saw a 6% decrease.
Despite declines in Calgary, Vancouver continues to hold its title as the most expensive rental market in the country. The average rent for a one-bedroom in Vancouver stood at $2,500 per month in April, down about 2% from the previous year. Meanwhile, two-bedroom rents in Vancouver dipped approximately 1% year-over-year to $3,450.
On the opposite end, several cities posted rental increases. Saskatoon recorded the largest percentage jump, with average one-bedroom rents climbing nearly 6% year-over-year to $1,300, and two-bedroom rents reaching $1,500, a 1% increase. Regina also saw gains, with one-bedroom rents up 5% to $1,240 and two-bedroom rents rising 3% to $1,460. Regina remains the city with the lowest average rents among the markets surveyed.
Calgary home sales
The rental market shift comes against the backdrop of a cooling home sales environment in Calgary. Ongoing economic uncertainty, including tariff threats, weighed heavily on consumer confidence and impacted housing activity in March.
According to the Calgary Real Estate Board (CREB®), home sales declined by 19% year-over-year, totaling 2,159 units. All property types saw slower sales, with higher-density segments experiencing the steepest drops.
“It is not a surprise to see a pullback in sales given the uncertainty,” CREB chief economist Ann-Marie Lurie said in the report. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss.”
Lurie noted that easing demand has been met with gains in new listings and rising inventories, helping Calgary’s housing market shift back toward balanced conditions after four years of a strong seller’s market. March saw over 4,000 new listings, causing the sales-to-new-listings ratio to drop to 54%, low enough to support additional inventory growth.
By the end of March, total residential inventory climbed to 5,154 units, pushing months of supply to 2.4 months. While that represents a significant change from the tighter conditions seen last year, Lurie emphasized that supply remains relatively limited across all property types and price points.
“Conditions reflect a better balance between a seller and a buyer today,” Lurie added. However, she cautioned that market dynamics vary depending on location, price point, and property type.
As supply improves, price pressure has eased somewhat. In March, Calgary’s unadjusted residential benchmark price stood at $592,500, stable compared to both February and March 2024. Prices for detached and semi-detached homes continue to rise, while apartment and row-style homes are reporting prices slightly below last year’s peaks.
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