Edmonton rents expected to rise this year: report

 

Rents across Alberta are expected to increase this year, according to the report. According to a recent report from rentals.ca and Urbanation, Edmonton's rental market will continue to experience annual growth this year, following a pattern of price increases through 2023. Annual rent growth to 2023 is 13.5 per cent, although this is lower than Calgary's average apartment rent of $1,467, the report said.

Rental demand is expected to remain strong. The slight change from 2023 is due to a slower economy, a decline in the number of non-residents, and an improvement in homebuying activity as interest rates begin to decline.

Condominium apartment rents in Alberta rose 15.6 per cent year-over-year in December to an average of $1,691.