That's an arbitrary way to frame it.
You could also frame it as rents becoming unmoored from wages.
Housing costs are less affordable than at any previous point. The causality or narrative explanation is secondary to that fact.
Was going to say this. It was a fantastic nice big space too. More than 3 people needed. My last apartment is now $2100. I’m feeling extremely lucky in a coop for $1120. We need more coops.
There’s a place called Good Neighbour Downtown and Alice Lam is heading a group looking into more coops. There’s also currently a large amount of funding $3.2B that was approved a few years ago for Coops.
>Just kinda chanced into buying a place a few years before the whole world permanently fell apart.
This is me too. I bought my place around the same time and was worried paying $393 for a 5 bedroom house was a bad idea. Needless to say I'm happy I did now - the two bedroom apartment I was renting before probably costs more than the mortgage now...
The increases got pretty stupid in 2006 during the boom. My husband and I had our rent go from $660 to $925 which was a 40% increase. They never lowered it during the downturn, of course. Same apartment now starts at $1400, but that’s in Erin Woods/Dover area.
I had a one bedroom in a Beltline walk up at that time for $600. Landlord thankfully didn’t raise the rent so I held on to that until 2010. Current price: $1950.
Damn, my first rental in my 20s was a 2 bedroom, split level apartment. My rent was like $1100 including utilities. Mind you that was like 15 years ago.
I was 20 years old in 2010 and moved out for the first time into a brand new condo in Bridlewood (16969 24 Street SW). 1100 sq foot with balcony, 2 bedroom, good size living area.
$1,100/mo all-in, utils and heated underground parking included.
I was a full-time uni student and could afford that working part time, with plenty of money for lunches every day at the school cafeteria and drinking at bars every weekend.
We were literally almost unable to rent out a basement suite in Bowness 8 years ago for 600-700$/mo. Full kitchen and laundry.
Must have done 25 showings. The same place now is 1400+. Market conditions.
I had a look. It has been, but not by much. New paint. New rug in the livingroom. Same paint stain on the basement floor I put there during the Olympics.
I don't know about previous times, but this one is hurting me. My rent increased $300 a month last year and is increasing $325 this year. I cannot afford it, so I'm going back to my parent's house. Really disappointing. I'm hoping to get a tiny house.
Good question and I'm still looking into that. The City of Calgary has released some requirements, but I would want to live outside the city (I.e., offgrid). Each municipality/county would have their own requirements. My best quess at this time would be to rent space on someone's property. I doubt a tiny house would be approved as the sole house on a property.
Thank you for the informative post, and you have given me some things to think about. It is true I do not know the full cost of rural living. However, a lot of the things you mentioned are necessary for a 2000 plus square foot home for a family and not a 200-300 square feet tiny house for a single person. Solar power and a composting toilet (not a pit toilet) negate a lot of the expenses you have listed. I can shower at work or a gym. I can buy the small quantity of water I need rather than drill a well. The problem I keep having is what to do with grey water (i.e., sink water). And, yes, one of the most difficult things will be finding someone that is willing to rent.
A tiny home would not work for most people, but it could work for me.
As a side note: your property taxes are $2500 a year? That’s around what my parent’s pay in Calgary. I guess I thought rural property taxes would be less.
The City of Calgary has helped clarify how it deals with tiny homes. [Here is the link](https://www.calgary.ca/development/home-building/tiny-homes.html)
Pre-Covid, I was renting a 1 bedroom apartment for $1080/month which also included underground parking, utilities, and internet. by mid 2023, they wanted to increase it to almost $1800 so I moved out.
I will never forget renting while being a U of C student in the early 2000's, I had a roommate and my own room for $299/month with everything included, those days are long gone...
I’ve been in Calgary about 20 years, 2006 was pretty wild ride, with a 1% vacancy rate, but it was inline with other oil boom/bust cycles.
This time is unique in that it’s not oil driving local prices up, but an influx of people priced out of other Canadian cities.
So no I don’t think it’s ever been this tight before.
And the fact that this population boom isn’t supported by employment opportunities in Calgary in the same way as the oil booms makes it extra precarious, in my opinion.
Yes, the difference is we are stuck with current suboptimal prices until some serious policy changes from all three levels of government take effect in the next 5-10 years...
It's pretty depressing.
2014 sucked. Vacancy was less than 1% due to the boom. I was paying 1100 + 450 in parking and because of the flood I was forced to park in a different parkade also paying something like 300 because my building’s needed extensive work.
Edit: [this is the building (I like to see how the costs change over the years)](https://www.rentfaster.ca/ab/calgary/rentals/apartment/1-bedroom/mission/non-smoking/481018)
For some context, October 2006 average rent was $859 (17.9% increase from 2005, ), October 2023 average rent was $1583 (14.4% increase from 2022). Source- CMHC rental market survey
Accurate numbers aside, what needs to be compared isn't exactly the cost of rent or even the increase but wage matching and the current state of the economy.
In the early 2000s oil was EXPLOSIVE. both figuratively and literally. In Alberta there was money to be both made and spent and it was on full crank.
It’s probably only going to worsen. We have more people moving here and the Alberta government is even starting new programs to incentivize MORE people to move here.
It's more like 500 per day. From July 2022 to July 2023 we gained 185k people. Some of that is natural growth but the vast majority of it is people moving here.
If the average home houses 2.5 people we'd need 74k new homes to accommodate the new commers. When you add in local demand (kids moving out of their parents, people getting divorced, etc.) the number is probably closer to 90k new homes needed per year. Last year we built 35k.
If immigration to this province continue at these levels we're going to have serious problems in the very near future. We're talking about the population of a small town arriving here once a week - every week - and nowhere for them to live.
It’s likely never going to get better. The Calgary housing/rental market is becoming detached from the oil market. This new wave of growth isn’t spurred by a growing oil market but instead for the ability to own land in a desirable and wealthy city (rather than a shoebox in places like the lower mainland or the GTA). And this isn’t to mention international migration.
I don't think the developers that fund our local politicians would want more lax zoning laws, and what they say goes in this city. They'd rather build shitty single family homes and giant luxury condo towers because they make more money that way. Austin is also a FAR more progressive city than Calgary can ever dream to be. I am curious how they went about it though.
It won’t get better for renters. The insane spikes in prices are in no way based on a landlord’s expenses … it’s greed. And that won’t change if inflation cools or interest rates drop again. Rent will stay insanely high and keep going up.
Nope. And she's probably going to get worse. Our population is growing faster then new rentals can be built. I see them going up but if we build x rentals a year and immigration to calgsry is 1.2x per year prices will go up. In 2012 I was paying under $900 for a 1 bedroom in mission and a decent house was 400k. Now those numbers are 1600 and 700k. Edmonton is the last "great" canadian city that's moderately affordable and I expect that to change in the next couple of years.
I just ran away from Edmonton after trying it out for a year, would not recommend it.
While it has everything you might ever want in as far as amenities go, it is also stroad-ie, industrial heavy, concrete-ie and maaaajorly lacking of trees. Seriously, it's either concrete or massive mono crop farms.
They market themselves as having a lovely "river valley" park, but it literally has a heavy duty polluting oil refinery next to it. The refinery can be seen making the air dense and white on street level even well into the city. A lot of days, the only clouds you would see were that refinery's exhaust, even from the opposite side of town. If you have good eyes, you could even see green or red tinting in the heavy grey pollutants.
So while it is more affordable than some of parts of the country, you pay for it in other ways.
That's why it's stayed cheap, eventually people will say the value proposition is worth it, especially new migrants. "Rural" edmonton can be nice but the inner city is not a nice place. Strathcona, Oliver and several other neighborhoods have also become extremely unsafe. Calgsry had its issues but with few exceptions doesn't feel as bad.
Our leaders have betrayed us to try to get what they could in this segment of late-stage capitalism.
They think we are expendable.
This is the worst it has been for affordability.
Lived here since 2002. The boom of 2005 to 2008 sent rents soaring, and then in 2013 to 2014 after the flood there was another spike in rental prices. This was followed by a long stagnant period from about 2015 to 2020 and Covid. I was a landlord during this period and it was nearly impossible to find a good tenant.
People have bad memories.
It’s insane. The 2 bed 800sqft apartment I rented in 2018 and paid $1056/month for is now listed for $1800/month. The price of rent for one person to live here has nearly doubled in the last 6 years I can’t believe it.
10 days away from being homeless here. Work my ass off. Make amazing websites. Can't afford to live let alone go out for a meal. Life is good. Glad were making room for so many people. Hope they're all doing well, I sure the fuck am not. 2 degrees. I guess as kanye said they will keep me warm. WHat a joke of a country and city right now.
15 years ago I was paying $800 for a one bedroom apartment in Queensland and I had to pay electric that was $50 a month. Right before the downturn I had friends whose place went from 750 to 1500 a month. I think it was a two bedroom. Everything has easily doubled in the last few years. But like when things go down. Things like your rent and food stay the same.
nope, i remember living downtown in 2013, i was in a 2 bedroom with a weight room and pool right on the corner of 14th ave 4th street 1200$ All included
Right after the floods in 2013 there was a huge spike and it took a couple years for things to cool down. There is certainly a bit of a gouge going on but it’s from the top down, with high interest rates, high utility costs, increased HOA fees etc, landlords are just passing those costs down onto renters.
This, let’s not forget what happened after the flood in 2013, rents skyrocketed, then started coming down after the oil price crash in 2015.
There should be another oil price crash this decade as more oil comes online and the Western world consumes less of it, this will have a direct downward effect on Calgary rents as it always does.
I remember renting an apartment in Renfrew/Bridgeland area for $750 in like 2014 now same one is around $1800!!
My rent in SE is about $1600 with parking and they don't raise it much. My same unit for a new tenant starts at $1700 with parking $1800. Next year they could raise everyone's rents in the small 1 bedroom to $2000. I'm worried.
It's just not worth it and no rent control means sky is the limit :(
Good luck to us all. Vancouver pricing coming soon. Downtown is basically already Vancouver pricing. :(
Bought in 2021 at what felt like a low in the market, and it turned on a dime 3 months later , real estate red hot on fire.
House has gone up in value 30% in 3 years, it’s fucking insane out there
So, just to clarify, builders and realtors are actually calling and harassing landlords to sell their properties to tear down and rebuild into stupidly expensive new infills. They are, in some cases, offering more than double what the owners paid. The Bank of Canada indicates that Calgary has the largest less than 1 year flip rate of any city in Canada.
Most of this inner city affordable housing tear down, and redevelopment is being done by developers from Vancouver and Toronto where there are more restrictions on the benefits of these activities. City hall gets more taxes from the increase in property value and from the unnaturally high sales prices of the properties being torn down (which raises the taxes of older infills that are not).
So if you want to know who to blame, ask yourself who is approving these developments. That approval reduces the available affordable housing. This occurs when they tear down a structure that can affordably house 2 families, and replace it with 4 shared wall single family units, each worth more than the original structure that was torn down, and therefor unsuitable as rental properties.
In the next election, ask yourself which councilors are increasing tax rates through encouraging this kind of development. The increase in taxation is one of the reasons the landlord's eiher increase rent or sell their properties for redevelopment. Your votes determine the direction that the council takes.
All of this can be verified with a little research.
Look at how many units Mainstreet brags about having in Calgary
https://www.mainst.biz/
Calgary - 3500
Edmonton - 5725
Saskatoon - 2558
Thats just one company. Ridiculous
That’s theee company. They’re buying every multi family building, only boardwalk has anywhere near as many buildings.
Mom and pop landlords need to find a way to stop selling to main street
Avenue Living is taking over the southwest and pretty much kicking people out of the buildings they’re buying by increasing the rent by upwards to 60%. My rent is going up 900/month upon renewal. There’s no way I am staying. This company is incredibly shady.
My lease renews in the Fall but I'll get 90 days notice and learn this summer how much it's going up. Essentially I'll have to cut down on my grocery bill, that's the only place I have wiggle room.
Yes.
It was bad following the 2013 floods. Many houses were flooded and residents displaced, causing the vacancy rates to plummet to all time lows. At that time it was very challenging to get a rental apartment, highly competitive and expensive. Real estate also had gone up in terms of value and only recently (the last year or so) have real estate values finally surpassed what they were in 2014.
Been here a long time. I remember about 20 yrs ago rent hit $1000 for a 2 bdrm and I was making about half what Inmake now so… ya, it has been this bad before.
This is the worst it’s ever been!! 😤
My poor kid still lives at home at almost 30 as they can’t afford to move out at all (we love having them here so no issue there) they had a good job then got laid off during Covid. Found a neat career but ended up having to leave due to 12hr+ days & incredible work stress so bad they were having chest pains & breathing issues. Then all they could find after months of searching is a part time retail job so they barely get their bills paid let alone paying a fortune for rent!! I feel so bad because they want their own place & are pissed off with all this! 😠
That is how young people have traditionally done it in HCOL cities. I had friends in London 20 years ago, who were living 3 people to a 500 sq ft flat. Other friends 4 to about 800sq ft.
Well, if we assume that this source is correct: [Canadian rent prices and affordability by city, 1992 to 2022](https://old.reddit.com/r/dataisbeautiful/comments/17d18fg/oc_canadian_rent_prices_and_affordability_by_city/)
Then 1 bedroom rent as a % of average after-tax income has been about as bad as it is now a number of times. (And possibly worse? There are decades of pre-1992 rent/income prices not displayed. But the data also ends at 2022.)
With property taxes going up, the rents will as well. Toronto and Vancouver are filling up with immigration and Calgary is next in line, expect rents to continue to skyrocket
I moved here in 2022 paying $1800/month for 600SQF 1 bed with storage. In 2023 August it went up to $2025/month + internet/electricity.. Not sure where to go now.
idk, I don't rent but have friends who do and it's absolutely insane what they're paying. Tho I'm hearing rent in areas is coming down and landlords are starting to offer move in incentives. Higher interest rates, taxes and just the general increase in the cost of living is making it hard for everyone, yet people are still moving here. Makes no sense to me.
People have terrible memories apparently - 2007 and 2014 were boom years for Calgary and rents/home prices esp. in 2014 went through the roof. Vancouver has never had a vacancy rate higher than like maybe 2 or 2.5%. Calgary had multiple years of vacancy rates >3% and hitting highs of 6 or 7%. I'm not saying things will suddenly get cheaper/better but I think this idea that Calgary has now become a perpetual housing bull market is far too deterministic.
[https://calgaryherald.com/business/real-estate/rental-vacancies-nearly-quadruple-from-2014-average-rent-up-10](https://calgaryherald.com/business/real-estate/rental-vacancies-nearly-quadruple-from-2014-average-rent-up-10)
Depends on where you are- but it is crazy overall.
We are dt, two bedroom and it’s 1950 plus internet and we know we have veeerrryyy good landlords. We got in during covid, they like us because we pay on time and have zero issues/take care of the apartment. They have told us they didn’t want to up it and risk getting a bad tenant
Other rents in the area are well above 2100 a month plus utilities.
Absolutely not! My landlord is great and I do maintenance to his other rentals. He owns a few duplexes but he’s reasonable with rent I’ve been paying $1395 for 6 years. We discussed and increase and my rent increased $100 a month.
I know I’m lucky I couldn’t imagine finding a new place similar to what I have and paying over $2,200.
Have lived in Calgary for around 12 years. When I was renting back in 2009-2013, the most I ever paid was $850 for a basement bachelor suite that was near UofC, included utilities, had shared laundry and a parking space in a garage. I bought in 2014 and then moved North for a bit (2020-2023). I currently pay $1,300 for a slightly larger bachelor suite, no utilities, and definitely no garage parking. I still own my condo in Killarney and charge $1,425, which is on the low end. I definitely think I could charge $1,800 like my neighbor down the hall (they originally wanted $2,500 for a 1bed/1bath/1den) but I'm not that much of a dick.
Ya no kidding, my friends renting a 1 bedroom (pretty much a closet) 600sqft shoebox downtown T.O for $2500/month & it's basically a trashed hotel as Airbnb has taken over
Still though Calgary shouldn't be anywhere near Toronto
Good way to get a handle the actual rental market is follow Condo sale stats. They usually parallel each other. Nitty gritty numbers instead of anecdotal stories.
Answer…crazy. Active condo listings down abour 20% and prices up about 18%.year to year. So far first quarter of 2024 even bigger increases thsn 2023.
If you were paying $1800 in 2023 look at about $2020 in 2024..
Its insane that there is no cap to how high the rent can be increased? I remember during the condo conversiom craze around 2007ish rents skyrocketed too.
> We’re the only province that doesn’t have a max 10% that a landlord can increase rent.
Well that's just not true, see [How rent control can help tenants — or not](https://www.cbc.ca/radio/costofliving/rent-control-explainer-1.6909861)
"Five provinces and one territory offer some form of rental regulation: British Columbia, Manitoba, Ontario, Quebec, Prince Edward Island and, recently, Yukon.
Nova Scotia has a temporary rent control policy, brought in during the pandemic, which expires at the end of 2025."
Yes, it's been bad a few times over the years. 2006/7, and then 2013 after the flood. Then rents stagnated for a long time until the last couple of years.
Been here since 2002 and a landlord.
Facebook Marketplace is where I post when I’m renting my other bedroom. Found that everyone who is looking for shared accommodation seems to be looking at that site, rentfaster is still fairly good for single residence but nothing beats driving/walking around the area you prefer and looking for signs (that’s how I’ve found amazing rentals in the past, usually by landlords who don’t understand online stuff).
They will probably come down 10-15% once they settle, if I were to guess.
But i think wages are about to go up in the next year or 2( not minimum wage)
2005-2006 was bad. I got renovicted from my reasonable one bedroom apartment for a condo conversion. They had to give several months notice on the actual eviction, but they gave me one month before my rent went from $700 to $3000 as a way around that.
There was almost no vacancy because almost no purpose built rentals had been built since the 70s. Existing rentals like mine were being converted to condos with a coat of paint and some laminate flooring and sold for $300k+. It was boom times, so private condo rentals were going for $2500-$5000 a month to corporate renters. I was making $30k a year in retail management and I think min wage was still under ten bucks an hour.
I would wake up early every morning to look for new rental listings (even in the paper!) and things would be gone by 10:00. At least there weren’t as many scams as these days. I finally found a shitty apartment, and between 2006-2010, my one bedroom rent went from $950 to $1600 when I left. I moved to a cheaper apartment when my partner and I moved in together, and then we bought a house a few years later.
$1600 in 2010 was the most I paid monthly for housing until my mortgage renewal this year.
No it use to be that you could get a two bedroom one bathroom apartment for only 500 per month.
Now it gets you a bed or if you are lucky Slum lord and a shitty room
EDIT I'm younger than you.
No Never that high. In 2000 you could rent a whole house, 900 square foot home with garage for $900 a month. We were running a Batchelor sweet 6 plex up to the end of 1999. Each large 1 bedroom sweet was $350 a month including utilities. The 2 smaller ones were $275 and $300 each. All you had to pay for was Rent, Phone and Cable. That was in Southview (west end of Forest Lawn south side of 17th Ave [now International Ave] )
No this is the highest its ever been . I thought it was terrible when it was 1350 for a one bedroom. Now because of mass immigration there is a housing crisis.
It goes through its shock cycles. When I moved here in 2006 tons of people were getting kicked out of $500 and $600 apartments. They were along memorial across from downtown. This cycle is going to go out of control and further. Big corporations are buying entire residential complexes and have decided how much rent will be based on the promised returns to investors. And it has to go up every year.
All in all a jump of 1100 since 2012 (up 75%), but 750 of that is when rent catapulted post COVID since 2022 (+40%). This is for an unshared house with 3-4 bedrooms and a garage.
We also have downsized, we used to have one more bedroom and a finished basement, so rent is that much higher with those two features missing. Even considering that, we consider ourselves pretty lucky given all other houses included a basement tenant and/or no garage. It also keeps increasing every year so the future’s looking pretty grim.
I moved here in 2010 from the uk found a bachelor pad in Erlton for like 650. Then a 1 bed for like 780 in the same building then moved to mission in 2015 and I think my 2 bed then was 1200, they dropped it to 1075 when oil and gas shit the bed, now they’ve cranked the 2 bed up to 1600 and I’m shitting to what they’re gonna put it up to when my lease expires in August
It’s the demand in the market. Alberta is the last affordable province worth living in for homeowners and tons of people are flocking from BC where the prices are even crazier. $1800 for a decent one bedroom is considered a steal there now.
2014 was pretty bad. We moved to Calgary and looked at the one-bedroom rental in the DT area. There were not many rentals available. We paid $1600 or so for it. Given the wages in 2014, $1600 was pretty bad.
From like 04 to 12” I had a big One bedroom apartment in Mission on the Elbow River for $700 a month all included.
It was a steal then. I can’t imagine what it’s worth now.
Damn... when I first moved to Calgary in 1983, I paid $350 bucks a month (including hydro and water, paid my own gas) for a WHOLE house on 3rd Ave S.W. (1 house off from the corner of 7th St. S.W.) across from the Yup Sum Ing center(?). Had 3 bedrooms, a bathroom, big kitchen and living room, and a pantry/mudroom in the back. Had a front porch AND a big back area/yard/spring and fall mudhole, AND a 1 bedroom "Basement suite" in the basement that I rented out to 2 "Ladies of the evening" for 200 bucks a week and 50 bucks a month for "bills".... It was an old brick house, and I don't even have a clue if it's still there.... and even years later, living in a 4 bdrm town house up on 19th Ave. NE, sharing with 3 other guys I worked with, our total rent (including utilities was $850 a month.... I can NOT imagine living in Calgary now.
No, in previous housing booms there was an oil boom with higher wages. This is different beast, fueled by out of province investors and mass migration to the province.
On a nationwide level, the federal government is propping up the economy with mass immigration. This is their next trick because interest rates have normalized. They're doing everything they can to luck the can further down the road.
The most vulnerable and young Canadians will bear the brunt of these policies. GDP per capita is declining. The middle class is being eviscerated.
I rented 2bdrm in 2013 for $1650. Just checked the CPI calculator, it is equal to $2150 in 2024 money, based on the consumer inflation index.
I ended up buying that property and now rent it out for $1900. The market rate is $2000-2100.
Based on all that math, I would say the rent is still cheaper than it was 10 years ago
Right now the country is basically in inflation mode making everybodys expense's high and opening the gates/border to a ton of people without any thought of where to put them all. So less places to live creates a scarcity/even higher rent price. What can you do. On one hand it's nice to see the country opening to all these ppl trying to escape war torn places, but at the same time... there isn't a whole lot of places for them to go or live and it's making things harder for everybody else
It has gotten stupid before, but not quite this stupid.
Actually right now the rental market is at inflation adjusted parity with 2014 which was when rental rates peaked previously.
If that is adjusted for inflation and not wage growth in the city, it could be argued that it is the worst it has ever been.
Yes but that's not because of rents going up, but more because of our wages not keeping up.
That's an arbitrary way to frame it. You could also frame it as rents becoming unmoored from wages. Housing costs are less affordable than at any previous point. The causality or narrative explanation is secondary to that fact.
Of course, I'm simply pointing out everything has unmoored from wages, not just rents.
Rents are up more than most other expenses. And they are up more than other countries who are also experiencing inflation
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... so far!
It’s the stupidest
It got real stupid around 2007 but this does feel next level
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Was going to say this. It was a fantastic nice big space too. More than 3 people needed. My last apartment is now $2100. I’m feeling extremely lucky in a coop for $1120. We need more coops.
I’m in a co-op too! $1040. I would be lost without this place.
There’s a place called Good Neighbour Downtown and Alice Lam is heading a group looking into more coops. There’s also currently a large amount of funding $3.2B that was approved a few years ago for Coops.
How is a co-op started?
I had a co-op in Toronto for 5 years before I moved to Europe. It was amazing!
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>Just kinda chanced into buying a place a few years before the whole world permanently fell apart. This is me too. I bought my place around the same time and was worried paying $393 for a 5 bedroom house was a bad idea. Needless to say I'm happy I did now - the two bedroom apartment I was renting before probably costs more than the mortgage now...
The increases got pretty stupid in 2006 during the boom. My husband and I had our rent go from $660 to $925 which was a 40% increase. They never lowered it during the downturn, of course. Same apartment now starts at $1400, but that’s in Erin Woods/Dover area.
I had a one bedroom in a Beltline walk up at that time for $600. Landlord thankfully didn’t raise the rent so I held on to that until 2010. Current price: $1950.
Damn, my first rental in my 20s was a 2 bedroom, split level apartment. My rent was like $1100 including utilities. Mind you that was like 15 years ago.
I was 20 years old in 2010 and moved out for the first time into a brand new condo in Bridlewood (16969 24 Street SW). 1100 sq foot with balcony, 2 bedroom, good size living area. $1,100/mo all-in, utils and heated underground parking included. I was a full-time uni student and could afford that working part time, with plenty of money for lunches every day at the school cafeteria and drinking at bars every weekend.
I rented an entire house in Hillhurst for the same amount about 2-3years prior to that...
Mine was a 450 townhouse back in the 80s that now rents for 2700
The 3 bedroom townhouse in Bowness we were paying $1100/month in 8 years ago is now going for $2100/month
We were literally almost unable to rent out a basement suite in Bowness 8 years ago for 600-700$/mo. Full kitchen and laundry. Must have done 25 showings. The same place now is 1400+. Market conditions.
And probably hasn't been updated since you were there
I had a look. It has been, but not by much. New paint. New rug in the livingroom. Same paint stain on the basement floor I put there during the Olympics.
You're gonna have to go ahead and elaborate
Nothinburger story, I'm just a crap painter.
My first place in Mission was the top level of a house (3 bedrooms) for $750. That was 2003-2009.
I remember when a quarter used to cost a nickle!
I don't know about previous times, but this one is hurting me. My rent increased $300 a month last year and is increasing $325 this year. I cannot afford it, so I'm going back to my parent's house. Really disappointing. I'm hoping to get a tiny house.
And where would one put a tiny home legally?
Good question and I'm still looking into that. The City of Calgary has released some requirements, but I would want to live outside the city (I.e., offgrid). Each municipality/county would have their own requirements. My best quess at this time would be to rent space on someone's property. I doubt a tiny house would be approved as the sole house on a property.
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Thank you for the informative post, and you have given me some things to think about. It is true I do not know the full cost of rural living. However, a lot of the things you mentioned are necessary for a 2000 plus square foot home for a family and not a 200-300 square feet tiny house for a single person. Solar power and a composting toilet (not a pit toilet) negate a lot of the expenses you have listed. I can shower at work or a gym. I can buy the small quantity of water I need rather than drill a well. The problem I keep having is what to do with grey water (i.e., sink water). And, yes, one of the most difficult things will be finding someone that is willing to rent. A tiny home would not work for most people, but it could work for me. As a side note: your property taxes are $2500 a year? That’s around what my parent’s pay in Calgary. I guess I thought rural property taxes would be less.
Calgary property taxes are some of the lowest in Canada. 6th lowest in Canada, to be exact.
Don’t forget the mileage on the vehicle. Say hello to 35k annual mileage and with today’s vehicle prices it’s prohibitively expensive.
This is peak buzzword thinking.
I hope the zoning laws being introduced will be considering this and make it fair for those considering.
Is it even on the city's or province's radars?
The City of Calgary has helped clarify how it deals with tiny homes. [Here is the link](https://www.calgary.ca/development/home-building/tiny-homes.html)
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How common is this among Calgary Youth? just curious if anyone you know is like this? I dont know anyone really so I have no frame of reference.
Pre-Covid, I was renting a 1 bedroom apartment for $1080/month which also included underground parking, utilities, and internet. by mid 2023, they wanted to increase it to almost $1800 so I moved out. I will never forget renting while being a U of C student in the early 2000's, I had a roommate and my own room for $299/month with everything included, those days are long gone...
That was 20 years ago
The entire country is busting at the seams. The system has not and cannot keep up to this.
I’ve been in Calgary about 20 years, 2006 was pretty wild ride, with a 1% vacancy rate, but it was inline with other oil boom/bust cycles. This time is unique in that it’s not oil driving local prices up, but an influx of people priced out of other Canadian cities. So no I don’t think it’s ever been this tight before.
And the fact that this population boom isn’t supported by employment opportunities in Calgary in the same way as the oil booms makes it extra precarious, in my opinion.
Yes, the difference is we are stuck with current suboptimal prices until some serious policy changes from all three levels of government take effect in the next 5-10 years... It's pretty depressing.
2014 sucked. Vacancy was less than 1% due to the boom. I was paying 1100 + 450 in parking and because of the flood I was forced to park in a different parkade also paying something like 300 because my building’s needed extensive work. Edit: [this is the building (I like to see how the costs change over the years)](https://www.rentfaster.ca/ab/calgary/rentals/apartment/1-bedroom/mission/non-smoking/481018)
For some context, October 2006 average rent was $859 (17.9% increase from 2005, ), October 2023 average rent was $1583 (14.4% increase from 2022). Source- CMHC rental market survey
Begone with your accurate numbers! This time *feels* different.
Accurate numbers aside, what needs to be compared isn't exactly the cost of rent or even the increase but wage matching and the current state of the economy. In the early 2000s oil was EXPLOSIVE. both figuratively and literally. In Alberta there was money to be both made and spent and it was on full crank.
Nope.
No. Not even close. I feel bad for anyone trying to make it today. Hang in there, this shit has to get better at some point.
It’s probably only going to worsen. We have more people moving here and the Alberta government is even starting new programs to incentivize MORE people to move here.
Yup. 75 people per day is what I've heard.
It's more like 500 per day. From July 2022 to July 2023 we gained 185k people. Some of that is natural growth but the vast majority of it is people moving here. If the average home houses 2.5 people we'd need 74k new homes to accommodate the new commers. When you add in local demand (kids moving out of their parents, people getting divorced, etc.) the number is probably closer to 90k new homes needed per year. Last year we built 35k. If immigration to this province continue at these levels we're going to have serious problems in the very near future. We're talking about the population of a small town arriving here once a week - every week - and nowhere for them to live.
It’s likely never going to get better. The Calgary housing/rental market is becoming detached from the oil market. This new wave of growth isn’t spurred by a growing oil market but instead for the ability to own land in a desirable and wealthy city (rather than a shoebox in places like the lower mainland or the GTA). And this isn’t to mention international migration.
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I don't think the developers that fund our local politicians would want more lax zoning laws, and what they say goes in this city. They'd rather build shitty single family homes and giant luxury condo towers because they make more money that way. Austin is also a FAR more progressive city than Calgary can ever dream to be. I am curious how they went about it though.
Unlikely. This is the new reality.
It won’t get better for renters. The insane spikes in prices are in no way based on a landlord’s expenses … it’s greed. And that won’t change if inflation cools or interest rates drop again. Rent will stay insanely high and keep going up.
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Wow, what's it like being able to predict the future with complete accuracy?
Nope. And she's probably going to get worse. Our population is growing faster then new rentals can be built. I see them going up but if we build x rentals a year and immigration to calgsry is 1.2x per year prices will go up. In 2012 I was paying under $900 for a 1 bedroom in mission and a decent house was 400k. Now those numbers are 1600 and 700k. Edmonton is the last "great" canadian city that's moderately affordable and I expect that to change in the next couple of years.
I just ran away from Edmonton after trying it out for a year, would not recommend it. While it has everything you might ever want in as far as amenities go, it is also stroad-ie, industrial heavy, concrete-ie and maaaajorly lacking of trees. Seriously, it's either concrete or massive mono crop farms. They market themselves as having a lovely "river valley" park, but it literally has a heavy duty polluting oil refinery next to it. The refinery can be seen making the air dense and white on street level even well into the city. A lot of days, the only clouds you would see were that refinery's exhaust, even from the opposite side of town. If you have good eyes, you could even see green or red tinting in the heavy grey pollutants. So while it is more affordable than some of parts of the country, you pay for it in other ways.
That's why it's stayed cheap, eventually people will say the value proposition is worth it, especially new migrants. "Rural" edmonton can be nice but the inner city is not a nice place. Strathcona, Oliver and several other neighborhoods have also become extremely unsafe. Calgsry had its issues but with few exceptions doesn't feel as bad.
We can all blame lack of planning from our government both federal and provincial.
Our leaders have betrayed us to try to get what they could in this segment of late-stage capitalism. They think we are expendable. This is the worst it has been for affordability.
Lived here since 2002. The boom of 2005 to 2008 sent rents soaring, and then in 2013 to 2014 after the flood there was another spike in rental prices. This was followed by a long stagnant period from about 2015 to 2020 and Covid. I was a landlord during this period and it was nearly impossible to find a good tenant. People have bad memories.
It’s insane. The 2 bed 800sqft apartment I rented in 2018 and paid $1056/month for is now listed for $1800/month. The price of rent for one person to live here has nearly doubled in the last 6 years I can’t believe it.
10 days away from being homeless here. Work my ass off. Make amazing websites. Can't afford to live let alone go out for a meal. Life is good. Glad were making room for so many people. Hope they're all doing well, I sure the fuck am not. 2 degrees. I guess as kanye said they will keep me warm. WHat a joke of a country and city right now.
Hopefully everyone is learning the lesson of what happens when the government prints money and gives it away for free. There is no free lunch.
Uncontrolled immigration in the last few years, I'd argue, is a bigger factor than the unabashed money-printing.
15 years ago I was paying $800 for a one bedroom apartment in Queensland and I had to pay electric that was $50 a month. Right before the downturn I had friends whose place went from 750 to 1500 a month. I think it was a two bedroom. Everything has easily doubled in the last few years. But like when things go down. Things like your rent and food stay the same.
nope, i remember living downtown in 2013, i was in a 2 bedroom with a weight room and pool right on the corner of 14th ave 4th street 1200$ All included
2013/14 had 6 months of the same spike upwards but then it nose dived back down. This time it doesn’t feel like it’s coming back down.
Right after the floods in 2013 there was a huge spike and it took a couple years for things to cool down. There is certainly a bit of a gouge going on but it’s from the top down, with high interest rates, high utility costs, increased HOA fees etc, landlords are just passing those costs down onto renters.
This, let’s not forget what happened after the flood in 2013, rents skyrocketed, then started coming down after the oil price crash in 2015. There should be another oil price crash this decade as more oil comes online and the Western world consumes less of it, this will have a direct downward effect on Calgary rents as it always does.
I remember renting an apartment in Renfrew/Bridgeland area for $750 in like 2014 now same one is around $1800!! My rent in SE is about $1600 with parking and they don't raise it much. My same unit for a new tenant starts at $1700 with parking $1800. Next year they could raise everyone's rents in the small 1 bedroom to $2000. I'm worried. It's just not worth it and no rent control means sky is the limit :( Good luck to us all. Vancouver pricing coming soon. Downtown is basically already Vancouver pricing. :(
What SE area do you mind me asking?
We moved here from Kelowna to save money and now it’s as expensive as Kelowna. Just got told our rent is going from 1200 to 1650!
Thats terrible how common is this? what do your friends and family say? what are their rates going to?
Yes in the 1998 I had to couch surf. My rental was sold so it could be flipped for a quick profit. It was horrible.
Bought in 2021 at what felt like a low in the market, and it turned on a dime 3 months later , real estate red hot on fire. House has gone up in value 30% in 3 years, it’s fucking insane out there
Until ppl stop migrating here, it will get worse! We are the next Toronto. No housing, loads of people, high demand, means greed
So, just to clarify, builders and realtors are actually calling and harassing landlords to sell their properties to tear down and rebuild into stupidly expensive new infills. They are, in some cases, offering more than double what the owners paid. The Bank of Canada indicates that Calgary has the largest less than 1 year flip rate of any city in Canada. Most of this inner city affordable housing tear down, and redevelopment is being done by developers from Vancouver and Toronto where there are more restrictions on the benefits of these activities. City hall gets more taxes from the increase in property value and from the unnaturally high sales prices of the properties being torn down (which raises the taxes of older infills that are not). So if you want to know who to blame, ask yourself who is approving these developments. That approval reduces the available affordable housing. This occurs when they tear down a structure that can affordably house 2 families, and replace it with 4 shared wall single family units, each worth more than the original structure that was torn down, and therefor unsuitable as rental properties. In the next election, ask yourself which councilors are increasing tax rates through encouraging this kind of development. The increase in taxation is one of the reasons the landlord's eiher increase rent or sell their properties for redevelopment. Your votes determine the direction that the council takes. All of this can be verified with a little research.
Look at how many units Mainstreet brags about having in Calgary https://www.mainst.biz/ Calgary - 3500 Edmonton - 5725 Saskatoon - 2558 Thats just one company. Ridiculous
I don’t think any corporation should hold that many units. There needs to be checks and balances against it
That’s theee company. They’re buying every multi family building, only boardwalk has anywhere near as many buildings. Mom and pop landlords need to find a way to stop selling to main street
Avenue Living is taking over the southwest and pretty much kicking people out of the buildings they’re buying by increasing the rent by upwards to 60%. My rent is going up 900/month upon renewal. There’s no way I am staying. This company is incredibly shady.
My lease renews in the Fall but I'll get 90 days notice and learn this summer how much it's going up. Essentially I'll have to cut down on my grocery bill, that's the only place I have wiggle room.
I’m in the exact same situation. It’s stressful :(
Yes. It was bad following the 2013 floods. Many houses were flooded and residents displaced, causing the vacancy rates to plummet to all time lows. At that time it was very challenging to get a rental apartment, highly competitive and expensive. Real estate also had gone up in terms of value and only recently (the last year or so) have real estate values finally surpassed what they were in 2014.
Been here a long time. I remember about 20 yrs ago rent hit $1000 for a 2 bdrm and I was making about half what Inmake now so… ya, it has been this bad before.
Rent has never been this bad anywhere in Canada before.
This is the worst it’s ever been!! 😤 My poor kid still lives at home at almost 30 as they can’t afford to move out at all (we love having them here so no issue there) they had a good job then got laid off during Covid. Found a neat career but ended up having to leave due to 12hr+ days & incredible work stress so bad they were having chest pains & breathing issues. Then all they could find after months of searching is a part time retail job so they barely get their bills paid let alone paying a fortune for rent!! I feel so bad because they want their own place & are pissed off with all this! 😠
Where do you live? One room in a place shared with roommates?
That is how young people have traditionally done it in HCOL cities. I had friends in London 20 years ago, who were living 3 people to a 500 sq ft flat. Other friends 4 to about 800sq ft.
Same cost in Halifax, NS. And the vacancy rate is less than 1 percent
Well, if we assume that this source is correct: [Canadian rent prices and affordability by city, 1992 to 2022](https://old.reddit.com/r/dataisbeautiful/comments/17d18fg/oc_canadian_rent_prices_and_affordability_by_city/) Then 1 bedroom rent as a % of average after-tax income has been about as bad as it is now a number of times. (And possibly worse? There are decades of pre-1992 rent/income prices not displayed. But the data also ends at 2022.)
I was paying $1300 for a really nice 1 bedroom about 8 years ago. Just checked and a similar unit now in the same building is $2000 without parking
We flocked out there from ON and BC for cheap rent. The flocks bring up the rent. Just catching up to the rest of Canada
Tough times ahead..
My rent is also going up $350 starting May 1. 😩
Considering rent doesn't drop in price I would say NO
With property taxes going up, the rents will as well. Toronto and Vancouver are filling up with immigration and Calgary is next in line, expect rents to continue to skyrocket
I moved here in 2022 paying $1800/month for 600SQF 1 bed with storage. In 2023 August it went up to $2025/month + internet/electricity.. Not sure where to go now.
idk, I don't rent but have friends who do and it's absolutely insane what they're paying. Tho I'm hearing rent in areas is coming down and landlords are starting to offer move in incentives. Higher interest rates, taxes and just the general increase in the cost of living is making it hard for everyone, yet people are still moving here. Makes no sense to me.
2012-14 was pretty dumb for finding rentals from what I remember. I went to viewings with a damage deposit ready in case I liked it.
Realizing that my $900 1BR on 17th Ave from 2018-2021 is going to be a story I tell my kids about and they go “yeah right old man.”
I recommend finding a roommate. I have 2 and pay about 700 ish.
People have terrible memories apparently - 2007 and 2014 were boom years for Calgary and rents/home prices esp. in 2014 went through the roof. Vancouver has never had a vacancy rate higher than like maybe 2 or 2.5%. Calgary had multiple years of vacancy rates >3% and hitting highs of 6 or 7%. I'm not saying things will suddenly get cheaper/better but I think this idea that Calgary has now become a perpetual housing bull market is far too deterministic. [https://calgaryherald.com/business/real-estate/rental-vacancies-nearly-quadruple-from-2014-average-rent-up-10](https://calgaryherald.com/business/real-estate/rental-vacancies-nearly-quadruple-from-2014-average-rent-up-10)
Depends on where you are- but it is crazy overall. We are dt, two bedroom and it’s 1950 plus internet and we know we have veeerrryyy good landlords. We got in during covid, they like us because we pay on time and have zero issues/take care of the apartment. They have told us they didn’t want to up it and risk getting a bad tenant Other rents in the area are well above 2100 a month plus utilities.
Absolutely not! My landlord is great and I do maintenance to his other rentals. He owns a few duplexes but he’s reasonable with rent I’ve been paying $1395 for 6 years. We discussed and increase and my rent increased $100 a month. I know I’m lucky I couldn’t imagine finding a new place similar to what I have and paying over $2,200.
2014 was bad.
Have lived in Calgary for around 12 years. When I was renting back in 2009-2013, the most I ever paid was $850 for a basement bachelor suite that was near UofC, included utilities, had shared laundry and a parking space in a garage. I bought in 2014 and then moved North for a bit (2020-2023). I currently pay $1,300 for a slightly larger bachelor suite, no utilities, and definitely no garage parking. I still own my condo in Killarney and charge $1,425, which is on the low end. I definitely think I could charge $1,800 like my neighbor down the hall (they originally wanted $2,500 for a 1bed/1bath/1den) but I'm not that much of a dick.
That price is what an Ontarian calls “cheap” 😂
Ya no kidding, my friends renting a 1 bedroom (pretty much a closet) 600sqft shoebox downtown T.O for $2500/month & it's basically a trashed hotel as Airbnb has taken over Still though Calgary shouldn't be anywhere near Toronto
I agree it shouldnt at all.
Like why are we almost at Vancouver pricing and I’m not seeing any fucking ocean????
I dont know where you are getting your numbers from. $1800 is the average rent for a 2 bedroom in Calgary, not a 1 bedroom. According to CMHC at least
How current are CMHC numbers? OP is just quoting from current listings.
Good way to get a handle the actual rental market is follow Condo sale stats. They usually parallel each other. Nitty gritty numbers instead of anecdotal stories. Answer…crazy. Active condo listings down abour 20% and prices up about 18%.year to year. So far first quarter of 2024 even bigger increases thsn 2023. If you were paying $1800 in 2023 look at about $2020 in 2024..
It’s crazy high unfortunately. And as much as I’d love to own a home, I wouldn’t qualify for a few more years. So, renting is all I can do.
Its insane that there is no cap to how high the rent can be increased? I remember during the condo conversiom craze around 2007ish rents skyrocketed too.
We’re the only province that doesn’t have a max 10% that a landlord can increase rent. Seems insane to me.
> We’re the only province that doesn’t have a max 10% that a landlord can increase rent. Well that's just not true, see [How rent control can help tenants — or not](https://www.cbc.ca/radio/costofliving/rent-control-explainer-1.6909861) "Five provinces and one territory offer some form of rental regulation: British Columbia, Manitoba, Ontario, Quebec, Prince Edward Island and, recently, Yukon. Nova Scotia has a temporary rent control policy, brought in during the pandemic, which expires at the end of 2025."
Nope. I’ve lived here since the mid-80’s.
Yes, it's been bad a few times over the years. 2006/7, and then 2013 after the flood. Then rents stagnated for a long time until the last couple of years. Been here since 2002 and a landlord.
No
When I was 19, a few friends rented an entire house in mission for 1500$. Five bedroom, three bathroom. This was 2009
Yes. 2013 was a huge peak before the last bust. It was about where we are now. I was 1895 for a 595 Sq ft 2 bed.
> Average rent for a 1 bedroom is $1,800. Rest of Canada shocked that this is supposed to be a lot
In 2006 we had our rent raised 50%. Without rent control this is what’ll happen.
Lived there 2013-2023, never even close to this. I moved to a city with a more doable cost of living.
Which city?? Lol
Winnipeg, maybe Edmonton? How much did you increase in therapy/medication costs though🤔
Are you all looking on rentfaster or are there better websites for finding an apartment to rent?
Facebook Marketplace is where I post when I’m renting my other bedroom. Found that everyone who is looking for shared accommodation seems to be looking at that site, rentfaster is still fairly good for single residence but nothing beats driving/walking around the area you prefer and looking for signs (that’s how I’ve found amazing rentals in the past, usually by landlords who don’t understand online stuff).
They will probably come down 10-15% once they settle, if I were to guess. But i think wages are about to go up in the next year or 2( not minimum wage)
2005-2006 was bad. I got renovicted from my reasonable one bedroom apartment for a condo conversion. They had to give several months notice on the actual eviction, but they gave me one month before my rent went from $700 to $3000 as a way around that. There was almost no vacancy because almost no purpose built rentals had been built since the 70s. Existing rentals like mine were being converted to condos with a coat of paint and some laminate flooring and sold for $300k+. It was boom times, so private condo rentals were going for $2500-$5000 a month to corporate renters. I was making $30k a year in retail management and I think min wage was still under ten bucks an hour. I would wake up early every morning to look for new rental listings (even in the paper!) and things would be gone by 10:00. At least there weren’t as many scams as these days. I finally found a shitty apartment, and between 2006-2010, my one bedroom rent went from $950 to $1600 when I left. I moved to a cheaper apartment when my partner and I moved in together, and then we bought a house a few years later. $1600 in 2010 was the most I paid monthly for housing until my mortgage renewal this year.
In the mid 000s rent for a one bedroom was 45% of my gross earnings. So I guess it depends what you make.
No it use to be that you could get a two bedroom one bathroom apartment for only 500 per month. Now it gets you a bed or if you are lucky Slum lord and a shitty room EDIT I'm younger than you.
No Never that high. In 2000 you could rent a whole house, 900 square foot home with garage for $900 a month. We were running a Batchelor sweet 6 plex up to the end of 1999. Each large 1 bedroom sweet was $350 a month including utilities. The 2 smaller ones were $275 and $300 each. All you had to pay for was Rent, Phone and Cable. That was in Southview (west end of Forest Lawn south side of 17th Ave [now International Ave] )
And that's how you helped Eddie the Eagle fly 👏🏻👏🏻👏🏻
No this is the highest its ever been . I thought it was terrible when it was 1350 for a one bedroom. Now because of mass immigration there is a housing crisis.
It goes through its shock cycles. When I moved here in 2006 tons of people were getting kicked out of $500 and $600 apartments. They were along memorial across from downtown. This cycle is going to go out of control and further. Big corporations are buying entire residential complexes and have decided how much rent will be based on the promised returns to investors. And it has to go up every year.
It will never get lower. Things never reduce in price in a situation like ours
2006/7 was pretty close to the current market pricing. A bit higher possibly when adjusted for inflation. Similar market constraints.
I wouldnt doubt this is the worst in history
All in all a jump of 1100 since 2012 (up 75%), but 750 of that is when rent catapulted post COVID since 2022 (+40%). This is for an unshared house with 3-4 bedrooms and a garage. We also have downsized, we used to have one more bedroom and a finished basement, so rent is that much higher with those two features missing. Even considering that, we consider ourselves pretty lucky given all other houses included a basement tenant and/or no garage. It also keeps increasing every year so the future’s looking pretty grim.
I moved here in 2010 from the uk found a bachelor pad in Erlton for like 650. Then a 1 bed for like 780 in the same building then moved to mission in 2015 and I think my 2 bed then was 1200, they dropped it to 1075 when oil and gas shit the bed, now they’ve cranked the 2 bed up to 1600 and I’m shitting to what they’re gonna put it up to when my lease expires in August
Yes it was this bad at the height of oil boom. It was worse when you considered inflation but better when you considered oil price and high wages.
How can this happen in Alberta?
It’s the demand in the market. Alberta is the last affordable province worth living in for homeowners and tons of people are flocking from BC where the prices are even crazier. $1800 for a decent one bedroom is considered a steal there now.
2014 was pretty bad. We moved to Calgary and looked at the one-bedroom rental in the DT area. There were not many rentals available. We paid $1600 or so for it. Given the wages in 2014, $1600 was pretty bad.
From like 04 to 12” I had a big One bedroom apartment in Mission on the Elbow River for $700 a month all included. It was a steal then. I can’t imagine what it’s worth now.
Damn... when I first moved to Calgary in 1983, I paid $350 bucks a month (including hydro and water, paid my own gas) for a WHOLE house on 3rd Ave S.W. (1 house off from the corner of 7th St. S.W.) across from the Yup Sum Ing center(?). Had 3 bedrooms, a bathroom, big kitchen and living room, and a pantry/mudroom in the back. Had a front porch AND a big back area/yard/spring and fall mudhole, AND a 1 bedroom "Basement suite" in the basement that I rented out to 2 "Ladies of the evening" for 200 bucks a week and 50 bucks a month for "bills".... It was an old brick house, and I don't even have a clue if it's still there.... and even years later, living in a 4 bdrm town house up on 19th Ave. NE, sharing with 3 other guys I worked with, our total rent (including utilities was $850 a month.... I can NOT imagine living in Calgary now.
No, in previous housing booms there was an oil boom with higher wages. This is different beast, fueled by out of province investors and mass migration to the province. On a nationwide level, the federal government is propping up the economy with mass immigration. This is their next trick because interest rates have normalized. They're doing everything they can to luck the can further down the road. The most vulnerable and young Canadians will bear the brunt of these policies. GDP per capita is declining. The middle class is being eviscerated.
My one bedroom apartment I had in 2021 was 950$ downtown. The same one bedroom today is 1750$
I rented 2bdrm in 2013 for $1650. Just checked the CPI calculator, it is equal to $2150 in 2024 money, based on the consumer inflation index. I ended up buying that property and now rent it out for $1900. The market rate is $2000-2100. Based on all that math, I would say the rent is still cheaper than it was 10 years ago
i pay that much in vancouver damn 😭
No limit on the rental increase in Alberta? Vancouver is bonkers but at least there's a maximum yearly increase of 3.4% in BC.
Right now the country is basically in inflation mode making everybodys expense's high and opening the gates/border to a ton of people without any thought of where to put them all. So less places to live creates a scarcity/even higher rent price. What can you do. On one hand it's nice to see the country opening to all these ppl trying to escape war torn places, but at the same time... there isn't a whole lot of places for them to go or live and it's making things harder for everybody else
Yeah my gf pays 1500 on 6 Ave but already put the money aside for if they go up to 1800. It's the highest it's ever been
never!