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Calgary’s Rental Market: From Landlords’ Paradise to Renters’ Haven

Just a few years ago, Calgary’s rental scene was firmly in landlords’ hands. Vacancy rates hovered below 2%, and prospective tenants found themselves in fierce bidding wars—often agreeing to above-market rents and stringent lease terms just for the privilege of a roof over their heads. Fast-forward to mid-2025, and the pendulum has swung decisively in favor of renters. Vacancy rates have climbed above 8%, average rents are flatlining (or even dipping in some segments), and tenants enjoy unprecedented bargaining power. What caused this dramatic market reversal in such a short span?

An Avalanche of New Supply

Calgary Rental Building

Responding to persistent “No Vacancy” headlines, developers greenlit dozens of mid-rise and high-rise rental projects between 2021 and 2024. City approvals surged—permits for more than 5,500 new units were issued in 2022 alone, followed by another 4,200 in 2023. Today, over 7,000 active rental listings populate platforms like Rentfaster.ca, spanning communities from Beltline to Cranston. This glut of entry-level units has fundamentally altered supply dynamics. Landlords hoping for premium returns instead face empty hallways and unprecedented competition.

Landlord Incentives: The New Normal

Rental Incentives

To fill vacancies, property managers have rolled out a buffet of incentives. Free rent for the first month (or more), zero-security-deposit policies, prepaid gift cards, and even roommate referral bonuses are now common tactics. Some luxury buildings have gone so far as to include complimentary gym memberships, valet parking credits, and concierge services—all in an effort to tip the scales in their favor. Tenants now juggle between multiple offers, often negotiating higher amenities-to-rent ratios and more flexible lease terms.

Market Adjustment on the Horizon

Contexts of oversupply rarely persist. As occupancy levels stabilize—projected around 2027—developers may pivot unsold rental towers into resale condominiums or co-living spaces. Historical patterns in cities like Vancouver and Toronto show such conversions often follow a two- to three-year absorption period. Meanwhile, Calgary’s job market growth—expected at 1.5% annually—will gradually absorb rental stock as new arrivals seek housing, easing pressures on both sides of the market.

Policy Pitfalls and Population Pressures

Federal immigration targets (nearly 500,000 new permanent residents by 2025) and changing mortgage regulations have added volatility. Rapid permit approvals without commensurate infrastructure planning have, at times, strained transit and amenities—leading to pockets of both oversupply and under-served demand. Meanwhile, federal modular housing contracts—earmarked to Brookfield and other large developers—signal continued high-volume construction. The upshot: Calgary’s housing pendulum may keep oscillating until policy and planning align more closely.

Your Next Move: Plan Your ‘Indoors’

Rather than chasing the latest rental boom or fearing upcoming corrections, develop a personalized shelter strategy:

  • Clarify Your Needs: Size, location, amenities, lease flexibility, and budget.

  • Map Your Timeline: Short-term (1–2 years), mid-term (3–5 years), and long-term (beyond 5 years).

  • Research Community Trends: Rental rates, vacancy histories, upcoming developments, and transit projects.

  • Negotiate Strategically: Leverage competing offers to secure concessions and favorable terms.

  • Stay Informed: Monitor vacancy reports, municipal permit pipelines, and economic indicators to time your moves.

By treating your “indoors” as a core life asset—rather than a fleeting trend—you’ll withstand market swings and secure stable, comfortable housing regardless of which way the pendulum swings next.

Calgary’s rental market has shifted from scarcity to surplus within a handful of years. Oversupply dominates 2025, but cycles of adjustment and reconversion lie ahead. In this renters’ market, tenants wield unprecedented influence—so seize the moment, chart your housing roadmap, and anchor your future with a robust plan for the space you call home.

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Acadia Detached-Home Market Snapshot – May 14, 2025

Acadia Detached-Home Market Snapshot – May 14, 2025
Jerry Charlton, Calgary Realtor® since 2002

Why Acadia Keeps Drawing Attention

Stretching across Calgary’s southeast, Acadia offers wide, tree-lined streets, quick LRT access at Heritage Station, and a solid mix of mid-century bungalows and updated split-levels. It’s a neighbourhood that lets families settle in—and investors lock down steady long-term value.

Fresh Numbers at a Glance

(Data covers the most recent 180-day period and the current inventory as of May 14, 2025. See the full market-report graphic above.)

Status # of Homes Avg. Price Avg. $/Sq Ft Avg. Days on Market
Active 16 $658,131 $620 23
Pending 3 $721,633 $626 24
Sold 13 $677,954 $641 22
Overall $672,137 $629

What This Means for Sellers

  • Properly priced, move-in-ready detached homes are clearing in just over three weeks.

  • Anything listed above the $650 K mark needs standout finishes to earn a fast sale.

  • Low inventory (16 active listings) keeps negotiating power tilted toward committed sellers.

What This Means for Buyers

  • The sold-to-active ratio still signals a competitive environment.

  • Focus on updated bungalows under $675 K—these draw the largest pool of buyers and rarely linger.

  • Pre-approval remains a must; homes that “check all the boxes” often see multiple offers within days.

In-Neighbourhood Trends We’re Watching

  1. Renovated Bi-Levels Surging: Two of three pending deals were extensively modernized bi-levels priced north of $700 K.

  2. Bungalow Flips Slowing: Investors are more cautious; cosmetic renos alone aren’t achieving the same resale premiums as in 2024.

  3. Garage Appeal: Nearly every quick sale this spring involved homes with an existing double garage or obvious potential for one—buyers still crave winter parking solutions.

Ready to Talk Numbers?

I’ve specialized in Acadia since 2002, tracking street-by-street micro-trends long before they hit the headlines. If you’re wondering what your home could command—or how to win the right listing without over-paying—let’s chat.

Call / Text: 403-831-0842
Email: jerry@jerrycharlton.com

More real-time Calgary market dashboards (updated every morning) are always available at 365Calgary.com.


Market data courtesy of Jerry Charlton Real Estate. Information deemed reliable but not guaranteed; buyers and sellers should verify figures independently.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.