A booming Oil and Gas sector is once again bringing great prosperity to Calgary, but it isn't the only reason that Calgary is seeing such a great economy.
Consider these facts (courtesy of Calgary Economic Development, 2022):
- Calgary has the highest GDP per capita of major Canadian cities
- Calgary has the highest concentration of high-tech workers in Canada
- Calgary has the highest head office concentration per capita in Canada
- In the first half of 2022, Calgary saw the 4th highest venture capital investment in Canada, with $427 million in 42 deals and is on pace for a record-breaking year.
Calgary is Canada's 4th largest urban centre and has a wide variety of people looking to rent. From families, to students, to professionals, to executives and anywhere in between!
Calgary has no rent controls, and there is no limit on the amount by which a landlord may raise their rent. Rental rates are market-driven in Calgary meaning when supply is low and demand is high, rental rates go up very quickly!
Over the past few years, Calgary has seen record in-migration, both inter-provincially as well as internationally. Although the record-setting levels seen from 2022-2024 have now returned to more normal levels in 2025, Calgary's net migration is still one of the best in the County. This bodes well for the rental markets as many newcomers to the city look for homes to rent.
According to 2021 Census data, Calgary has the highest median after-tax income of all the major cities in Canada. Higher household incomes typically lead to a higher monthly spend on housing.