Edmontonians seeking to rent a place to live are seeing greener pastures as more new units come to the market just as the city’s population boom wanes.
“These factors put downward pressure on asking rents,” says Taylor Pardy, lead economist for Prairies at Canada Mortgage and Housing Corp. The recent 2026 Mid-Year Rental Market Update shows Edmonton following a similar trend as the entire Canadian market. Almost every major municipality is experiencing a boom in new supply while simultaneously seeing a decline in demand, largely the result of falling international migration.
As a result, asking rents in most of the nation’s largest rental markets fell at the end of 2025 from previous quarters, CMHC’s findings show.
That has led more landlords to offer greater incentives to attract renters, which include several months of free rent, gift cards and even cash bonuses, the report notes.
Supply is highest among newer multi-family units, while older purpose-built rentals continue to see high occupancy.
That is partly because older buildings have lower rents for their existing tenants, Pardy says.
“In many cases, you’re also getting more space than new builds.”
Even with new supply and slowing population growth, Edmonton’s rental market remains strong compared to other cities, says Yaz Nazarali, broker/owner of ReMax Rental Advisors in Edmonton.
“The market remains relatively more stable than Calgary’s.”
Vacancy rates have increased, he adds, but migration from other parts of Canada is still net positive for the city due to its relative affordability compared with larger cities.
“As well, landlords are using those targeted incentives rather than broad” cuts in rent.
CMHC’s latest data from last fall shows that vacancy in Edmonton for purpose-built rentals was about 3.8 per cent in late 2025. That is up from previous years, and the rate is forecast to increase this year to about 4.5 per cent, he says.
Average rents range from as low as $900 a month for bachelor suites to more than $1,800 for three-bedroom suites, Nazarali adds.
Both Calgary and Edmonton’s rental market favour renters more this year compared with the past three previous years, but “Edmonton is expected to remain tighter due to sustained demand,” he says.
Calgary experienced a more significant population boom post-pandemic with high migration from Vancouver and the Greater Toronto Area. That spurred a rush of purpose-built rental and condominium development, Pardy says. Many condominium projects were designed to appeal to investors who sought to rent the units in Calgary’s sizable secondary rental market, he adds.
Edmonton “didn’t get as low for vacancy, so it didn’t see the same pressure,” Pardy says. “Even though we’re seeing more supply coming to the market, Edmonton’s vacancy rates haven’t shot up like Calgary’s.”
CMHC data show Calgary’s vacancy rate increased from a historic low of about 1.4 per cent in 2023 to 5 per cent last year. By comparison, Edmonton’s rate was 2.1 per cent in 2023.
CMHC’s report notes that Edmonton’s rental market is currently balanced with neither renters nor landlords having a significant advantage. Pardy notes that the vacancy rate would need to exceed six per cent for the market to clearly favour renters. And it would need to drop below 3.5 per cent to give landlords the upper hand.
The crown corporation forecasts that Alberta’s rental market as a whole is likely to be more resilient than other provinces because of its stronger economy, modest population growth, and a younger population overall.
“Having that younger population leads to more new household formation and that typically fuels rental market demand,” Pardy says.