Buying a Rental Property in Calgary in 2026: What the Numbers Say

Quick answer: Calgary's rental market has loosened. Apartment vacancy hit 5.0% in 2025 and CMHC expects it to rise to 5.7% in 2026, while asking rents for apartments fell. Family-sized rentals (detached homes and townhouses) have held up better. A rental can still work here, but the numbers need to work at today's rents, not the rents of 2023.

Where the Calgary rental market stands in 2026

After record population growth in 2023 and 2024, a wave of new purpose-built rentals opened and renters gained more choice. Here are the numbers that matter if you're thinking about buying a rental:

• Apartment vacancy: 5.0% in the Calgary CMA in 2025 (CMHC Rental Market Survey).
• Forecast: CMHC expects vacancy of 5.7% in 2026, 6.2% in 2027 and 5.9% in 2028 (as reported by the City of Calgary).
• Average apartment rent, 2025: $1,582 for a one-bedroom and $1,914 for a two-bedroom (CMHC).
• Rented condos: vacancy of 2.2% in 2025, much tighter than purpose-built apartments (CMHC).
• Population growth is slowing: about +88,000 people in 2023–24, +53,000 in 2024–25 and an estimated +34,000 in 2026 (City of Calgary).

Which rentals are holding up

Year-over-year changes in asking rents (RentFaster data, as reported by the City of Calgary) show a clear split:

• Apartments and multi-residential: −9.6%
• Basement suites and main-floor units: −8.0%
• Townhouses and duplexes: +1.0%
• Detached houses: +16.5%

In plain terms: one-bedroom apartments face the most competition, while family-sized homes are still in demand.

Secondary suites: what changed

Since August 4, 2026, secondary suites are a permitted use in all of Calgary's low-density districts (Bylaw 26P2026). A property can have a secondary suite or a backyard suite, not both. The City's Secondary Suite Registry has grown to about 26,000 suites (CREB, September 2026). Before you count on suite income, check the address on the City's online registry map. A listing that says "suite" doesn't mean the suite is legal.

Run the numbers before you buy

A few things to include in any rental budget:

• Down payment: rentals that aren't owner-occupied generally need at least 20% down in Canada.
• Vacancy: with apartment vacancy around 5%, budget for some empty months.
• Condo fees, property tax, insurance and repairs.
• Today's rent for a similar unit, not last year's.

Our Calgary Investor Guide has a free rental cash-flow calculator, live inventory for condos, townhouses and homes with suites, and a summary of Alberta's landlord rules.

Thinking about a rental property?

Send me a listing and I'll help you check the suite status, pull rents for similar units and go through the condo documents with you. Call or text (403) 616-6309.

Sources: CMHC Housing Information Highlights (Calgary CMA); City of Calgary, Housing Trends and Repeal of Citywide Rezoning; CREB®Now, "Secondary suites succeed in Calgary" (September 2026). This article is general information, not financial or legal advice.