CMHC Calgary Rental Report

Written by Wade Graham | 15 December 2011

real_estate_formulaOnce a year CMHC releases their Calgary Rental Report.  Not to sound arrogant but anyone who has been following me on twitter or Facebook already knew what this report was going to look like.  I felt like I had heard an echo after reading it as it sounded a lot like the report I put together!

Investors have some good news coming their way for 2012 and if the world economy keeps it together 2013 could be another banner year for Calgary!

 

Calgary Highlights
  1. „ The apartment vacancy rate in the Calgary CMA reached 1.9 per cent in October 2011, down from 3.6 per cent in October 2010.
  2. „ Average rent for a two-bedroom apartment unit was $1,084 per month in October 2011, compared to $1,069 in October 2010.
  3. „ The vacancy rate for row (townhouse) rentals was two per cent in 2011, down from 3.7 per cent a year earlier
Alberta Highlights
  1. The average apartment vacancy rate in Alberta’s urban centres declined to 3.4 per cent in October 2011 from 4.6 percent in October 2010.
  2. „ Vacancy rates in October 2011 ranged from zero per cent in the Canmore and Okotoks Census Agglomerations (CA) to 9.4 per cent in Medicine Hat and Wood Buffalo
  3. „ The apartment vacancy rate in the Calgary and Edmonton Census Metropolitan Areas (CMAs) declined to 1.9 percent and 3.3 per cent, respectively.
  4. „ The provincial average rent for all apartment types was $951 per month in October, up slightly from $943 a year earlier. As was the case in the previous year, Wood Buffalo had the highest average rent among all urban centres in  Alberta at $1,949 per month while Medicine Hat had the lowest at $663 monthly.