The average monthly asking rent for all property types in Canada was down 1.4 per cent in May over April to $1,814, according to Rentals.ca and Bullpen Research & Consulting which produced the latest National Rent Report.  

Calgary finished 26th on a list of 34 cities for average monthly rent in May for a one-bedroom home at $1,138 and for a two-bedroom at $1,358, said the report.

“Calgary rents for a one-bedroom and two-bedroom were fairly stable month over month but are down yearly by 9.7 per cent for a one-bedroom and 7.6 per cent for a two-bedroom. The average monthly rent for apartments and condominium apartments in Calgary was unchanged May over April at $1,219,” said the report.

The average monthly rental rate in Alberta was up slightly May over April by 1.2 per cent, it added. 

The report said the COVID-19 pandemic continues to put downward pressure on the rental market nationally, with rent down 7.2 per cent from the peak in September at $1,954 per month. 

“There was a significant increase in website traffic on Rentals.ca in May,” said Matt Danison, CEO of Rentals.ca, in a news release. “It appears prospective tenants are doing their research to prepare for a move in the near future.” 

“This sharp drop in demand has resulted in landlords dropping their asking rents in most major markets across the country,” said Ben Myers, president of Bullpen Research and Consulting.

“Possibly because of the pandemic, people are now willing to live a bit farther out of the centre, to avoid higher density areas,” said Vincent-Charles Hodder, CEO of Local Logic.