Rent prices are dropping in Calgary and Edmonton

Average rent prices have dropped in Calgary and Edmonton, reflecting a national 3.3% decline in Canada. Calgary saw the largest decrease, with one-bedroom rents down 8.2% to $1,591 and two-bedrooms down 9.2% to $1,944. Edmonton's rents fell less, with one-bedrooms down 2.3% to $1,336 and two-bedrooms down 0.7% to $1,679. Despite recent drops, rents remain higher than a few years ago, outpacing wage growth.