Calgary Rental Market Update – March 2025: What Landlords Need to Know

🌟 Canada & Calgary Rental Market Highlights – March 2025 🌟

The rental market across Canada is showing signs of recovery, with asking rents increasing by 1.5% month-over-month in March — the first rise since September 2024. This seasonal uptick reflects improved affordability across the nation. However, Calgary's rental market for March 2025 continues to face unique challenges as it undergoes a market correction, with asking rents showing a year-over-year decline of 9.3%.

For landlords in Calgary, understanding the current trends and adapting to the evolving market is essential for maximizing rental income and maintaining occupancy rates. Here’s a detailed breakdown of Calgary’s rental market and what it means for landlords.

Calgary’s Rental Market Trends

Market Correction and Supply Surge- Calgary’s rental market is stabilizing due to elevated supply from record apartment completions. The increased availability of rental units has put downward pressure on rents, making affordability a key factor driving tenant demand.
Affordability Drives Leasing Activity- With affordability being a top priority for tenants, landlords must be strategic when setting rental prices to stay competitive while ensuring steady leasing activity.

Asking Rents in Calgary – March 2025

Here’s a snapshot of average asking rents in Calgary for March 2025:

1 Bedroom: $1,588/month
2 Bedroom: $1,928/month
3 Bedroom: $2,169/month

These figures represent asking rents, not necessarily the rents being accepted. Landlords should conduct thorough market research to determine the actual rents being negotiated and accepted in their area.

What This Means for Landlords

Set Competitive Rent Prices - With Calgary experiencing a market correction, setting a competitive rent price is crucial. Research comparable properties in your area to ensure your rents align with market trends. Highlight unique features like energy-efficient appliances or modern amenities to justify premium pricing where applicable.
Leverage Professional Marketing - In a market with elevated supply, standing out is more important than ever. Invest in high-quality photos, detailed property descriptions, and multi-channel marketing strategies. Platforms like RentFaster.ca, Kijiji, and social media channels such as Instagram and Facebook Marketplace can help you reach a broader audience.
Understand Tenant Expectations - Affordability and value are key drivers for tenants in Calgary. Offering flexible lease terms, rental incentives, or shorter-term leases can attract tenants who may be in transitional phases.
Maintain Properties to Retain Tenants - Tenant retention is just as important as attracting new tenants. Regular maintenance, timely responses to tenant concerns, and proactive warranty management can help you retain tenants and reduce turnover costs.

How AspirePeak Properties Can Help

Navigating Calgary’s evolving rental market can be challenging, but you don’t have to do it alone. AspirePeak Properties specializes in residential property management and offers services tailored to help landlords succeed in today’s competitive market.

Our Services Include:

Market rent analysis to ensure competitive pricing.
Professional marketing with high-quality photos and 3D tours.
Tenant screening and lease management.
Maintenance coordination and 24/7 emergency response
and much more!

By partnering with AspirePeak Properties, you can maximize your rental income, reduce vacancy rates, and ensure your properties are managed efficiently.

Key Takeaways for Landlords

Calgary’s rental market is stabilizing, but rents remain under pressure due to elevated supply.
Setting competitive rent prices and offering value to tenants is essential to staying ahead.
Professional property management can help landlords navigate these challenges and optimize their rental income.
By aligning your rental strategy with current market trends, you can position yourself for success in Calgary’s evolving rental market. What strategies have worked for you in attracting tenants? Let us know in the comments!