Calgary’s Rental Market Trends: What Property Owners Need to Know

Aisling Baile • April 25, 2025

Calgary’s rental scene has seen some serious movement lately, with fluctuating vacancy rates and changing tenant priorities. If you’re considering renting out your space or expanding your portfolio, you want to stay on top of local trends.

Keep reading to learn what’s driving rental demand in Calgary, the neighbourhoods that are heating up, and what investors should expect in the months ahead.

A golf course in the middle of a forest surrounded by trees.

Current Supply and Demand

The Calgary rental market is showing signs of loosening. According to the Canada Mortgage and Housing Corporation (CMHC), the vacancy rate for purpose-built rentals climbed to 4.8% in the Fall of 2024, marking a shift after three straight years of declining availability. While that gives renters more breathing room, demand remains high enough in key areas to keep prices up.

This demand spreads across different property types, like condos for affordability and downtown convenience and single-family homes for families looking for space and stability.

Basement suites, especially those with separate entrances and in-suite laundry, also attract high interest as more tenants want privacy without breaking the bank.

Shift in Tenant Preferences

People want more than a roof over their heads. Comfort, convenience, and lifestyle are priorities. Proximity to public transit, grocery stores, and good coffee shops is a big must.

With more professionals working hybrid jobs, walkable communities and access to coworking spaces are in demand.

We're also seeing renters gravitate toward newer buildings or recently renovated units, which include energy-efficient upgrades or modern finishes.

A sign that says `` units with pool access '' on a white background.

A sign that says `` units with beach access '' on a white background.

Factors Influencing Calgary’s Rental Market

Rising energy prices boost jobs and housing demand while the growing tech scene draws in new renters. Alberta’s population boom — up 168,000 in 2024 — adds more pressure. Rental activity slows in winter but surges in summer, with students, relocators, and short-term vacationers flooding in.

Neighbourhood Hotspots

Downtown Calgary neighbourhoods like Beltline, Mission, and Kensington are popular thanks to their walkability, transit options, and nightlife. Of course, that popularity means higher prices and more competition.

Calgary suburbs like Mahogany, Evanston, and Auburn Bay offer more space and family-friendly communities, often at a better price point. Renters willing to commute find real value here.

If you're looking for emerging areas with good Calgary real estate investment potential, keep an eye on Seton, Livingston, and Rangeview. These newer communities are seeing increased infrastructure investment and demand, especially from young families and newcomers.

Market Forecast and Recommendations

In the short term, rental rates will likely continue to rise modestly, especially as vacancy rates in Calgary remain low and demand stays strong.

Long-term, ongoing infrastructure projects, like the Green Line LRT and continued urban development, suggest that demand will stay strong in the downtown core and surrounding suburbs.

If you’re a property owner, stay flexible, adjust pricing based on real-time demand, and keep your property well-maintained and modern