Airdrie recorded the largest year-over-year apartment rent decline in Alberta last month, according to the June 2025 Rentals.ca Rent Report.
The average asking rent for apartments in the city dropped 10.5 per cent to $1,677 in May. It marked the most significant decline among Alberta municipalities tracked in the national rental data release.
Calgary rents declined 7.9 per cent year over year to $1,928, while Edmonton saw a modest 0.7 per cent increase to $1,561. Across the province, average asking rents for purpose-built and condominium apartments dropped 2.4 per cent annually to $1,745.
The report found that three-bedroom apartment rents in Alberta rose one per cent year over year to $2,160, while rents in Lethbridge climbed 7.2 per cent to $1,519 — the fastest annual increase among Alberta markets in the report.
In the shared accommodation category, average asking rents grew 2.3 per cent year over year in Edmonton to $768. Data for Airdrie’s shared accommodation market was not included.
The Rentals.ca report is based on monthly listings data from the Rentals.ca Network of Internet Listings Services. It includes both primary and secondary rental markets, such as basement units, condominiums, townhouses and detached houses. The figures reflect asking rents for vacant units and may differ from Canada Mortgage and Housing Corporation data, which includes all occupied rental stock regardless of vacancy or lease turnover.
Nationally, asking rents averaged $2,129 in May, down 3.3 per cent from the record high of $2,202 posted one year earlier. It was the eighth straight month of annual rent declines across Canada.
Despite the recent dip, rents remained 5.7 per cent higher than two years ago and 12.6 per cent higher than three years ago. The report also noted that average asking rents in Canada have increased by 4.1 per cent annually over the past five years, outpacing average wage growth of roughly three per cent during the same period.
Among Canada’s six largest cities, apartment rents declined year over year in Calgary, Toronto, Vancouver and Montreal. The longest consecutive stretches of annual rent decreases were reported in Vancouver (18 months), Toronto (16 months), and Calgary and Montreal (10 months each).
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