Calgary rent prices are dropping WAY faster than other cities in Canada

Rent prices in Calgary have significantly declined, leading the nation with a 9.8% annual drop. The Canadian median rent for one-bedroom apartments decreased by 0.8% to $1,835, while two-bedrooms fell by 0.9% to $2,265. Calgary is now the 15th most expensive rental market in Canada, with Edmonton at 21st place. The national rent index has declined for six consecutive months, attributed to increased supply, shifting migration patterns, and economic uncertainty affecting demand.