RENT LIKELY TO INCREASE BY 3% IN CALGARY.

By Chandrayee Roy Choudhury, Canada: Calgary renters can expect rent to increase three per cent in 2022, well below other major metro areas.
The Rentals.ca rent report — prepared with Bullpen Research and Consulting — predicted rent in Toronto will jump 11 per cent, by six per cent in Vancouver and by five per cent in Montreal.
Average rent in Calgary was up four per cent through November, year-over-year, which was just over the national average of 3.6 per cent, settling in at $1,470 per month. The average monthly rent for all properties in Canada was $1,817. Calgary ranked 25th in Canada out of 35 cities in average rent among major centres, but that may be slowly changing as the economy recovers.
This represents a rental market that is bouncing back after taking a hit early in the pandemic.The report’s data include basement apartments, rental apartments, condominium apartments, townhouses, semi-detached houses and single-detached houses.
Bob Dhillon, the CEO, president and founder of Mainstreet Equity — one of Calgary’s biggest rental companies — said the Calgary market is in a state of balance for supply and demand, at least for apartments and townhouses. This is why Calgary is not experiencing the massive spikes in rents like Toronto and Vancouver.