Fall 2025 Calgary Rental Market Update

According to CREB (Calgary Real Estate Board), Calgary’s housing market softened in August, with price declines most pronounced in condos and rowhouses. Detached and semi-detached homes remain more resilient but are also easing as inventory builds. Supply has now reached its highest August level since 2019, pushing months of supply to 3.4, much closer to balanced conditions.

For rental owners, these resale dynamics are spilling directly into the rental market. Many sellers who are unable to achieve their target price are reverting to, or re-entering, the rental pool. At the same time, easing purchase prices are drawing investors back into acquisitions, particularly in higher-density products where entry costs have come down. This has added more individually owned condos and townhomes to the market just as government incentives are accelerating new multi-family development. Together, these forces mean renters will see more choice in both the short and long term, while owners face stronger competition.

National data confirms the pressure. Rentals.ca reports that Canadian average asking rents fell 2.3% year-over-year in August, marking the 11th straight month of annual declines. Calgary was one of the hardest-hit markets, with overall rents down nearly 10% year-over-year. Purpose-built rentals have shown the most resilience, slipping just 0.4%, while individually owned condos and houses posted much steeper declines. This split highlights the challenge for private investors competing against large-scale rental projects, which continue to expand under favourable government programs.

For Calgary investors, the takeaway is clear: tenant demand remains, but renters now have more leverage and more options. Success in this environment comes from positioning; well-kept, well-marketed, and professionally managed properties will outperform, while average product risks longer vacancies or steeper concessions.

We’re here to make sure your property stays competitive and protected in today’s shifting market. Reach out to CIR REALTY Property Management today to discuss how we can help you stay ahead.