Rent is down in Edmonton, but the big picture tells a different story

Edmonton's rental market cooled this summer, with average one-bedroom rents dropping 3.8% to $1,369 and two-bedrooms down 1% to $1,745 year-over-year. Despite this, Edmonton saw a 27% rent increase since 2022, the second highest in Canada. Calgary's rents fell 8.8% for one-bedrooms. Nationally, rents declined 3.6% from last year, with the priciest markets in B.C. and Ontario.