Leasing - Renting Costs in Calgary & Edmonton
July 12, 2024•348 words
"The hardest obstacle I've ever had to overcome is probably my first steps into adulthood: paying rent, groceries, cooking, taxes. I was so anxious to grow up, and now I'm wishing I was still a kid." ~ Dillon Lane
"In Harlem, for instance, all of the stores are owned by white people, all of the buildings are owned by white people. The black people are just there - paying rent, buying the groceries; but they don't own the stores, clothing stores, food stores, any kind of stores; don't even own the homes that they live in. They are all owned by outsiders, and for these run-down apartment dwellings, the black man in Harlem pays more money than the man down in the rich Park Avenue section." ~ Malcolm X
Calgary and Edmonton, the fourth and fifth largest urban centres in Canada and the nation's two fastest-growing cities, are seeing a significant rise in rental prices due to inflation.
Finding an affordable place to live in Calgary is necessary. The cost of renting a furnished one-bedroom apartment in Calgary has slightly decreased this month. In contrast, the price for unfurnished ones has gone up. On average, furnished one-bedroom apartments now rent for $1,839 per month, a bit cheaper than last month.
Unfurnished one-bedroom apartments now cost an average of $1,720 per month, which is slightly more than last month. Currently, renting a furnished apartment in Calgary is about $119 more expensive per month than unfurnished ones.
Renting a one-bedroom apartment in Edmonton got pricier this month. The cost of renting an unfurnished apartment increased to about $1,319 monthly. Furnished apartments saw a more considerable price hike, now averaging $1,577 monthly. These higher costs are likely tough for renters. Landlords in Edmonton could make more money by renting out furnished apartments, especially to people who only need a place for a short time.