Calgary has 1,697 condos listed for sale as of mid-November 2026, representing just over one-fifth of all residential listings in the city. Investors weighing a purchase face a market where one-bedroom units carry a median asking price of $249,998 and two-bedroom condos sit at $349,900. The Canada Mortgage and Housing Corporation reported average rent across Calgary's purpose-built rental stock at $2,364 as of October 2025, up from $2,313 the year before.
Borrowing costs remain a central consideration. The Bank of Canada's policy rate stands at 2.50 percent as of November 12, 2026, while the five-year posted rate at major chartered banks sits at 6.19 percent as of November 11. Most borrowers negotiate a rate below the posted figure, but the gap between what a property earns in rent and what it costs to carry shapes every investor's arithmetic.
Key Takeaways
- Calgary has 1,697 condos listed for sale, with a median asking price of $299,800 and a median of 50 days on the market.
- One-bedroom units ask a median of $249,998; two-bedroom condos ask $349,900.
- Average rent in Calgary's purpose-built rental market reached $2,364 as of October 2025, according to the Canada Mortgage and Housing Corporation.
- The Bank of Canada's policy rate is 2.50 percent, and the five-year posted mortgage rate at major banks is 6.19 percent.
- The Canada Revenue Agency requires rental-income reporting and permits deductions for a range of expenses, detailed in guide T4036.
What the Listings Show
Of the 1,697 condos on the market, 539 were first listed in the last 30 days and carry a median asking price of $304,500. The condo segment accounts for 21.5 percent of all Calgary residential listings. Across all property types, 570 one-bedroom homes are listed at a median ask of $249,998, and 1,729 two-bedroom homes sit at $349,900.
Condos have been on the market a median of 50 days, longer than the 44 days for townhouses and 43 days for detached houses. Just under 40 percent of all Calgary listings ask less than $500,000, a bracket that captures most one-bedroom condos and many two-bedroom units.
What Rent Figures Tell You
The Canada Mortgage and Housing Corporation surveys purpose-built rental buildings each October. The most recent figure, covering October 2025, put average Calgary rent at $2,364, a rise of 2.2 percent from the year before. That survey does not track asking rents on individual condo listings or private landlord rates, so it lags current market conditions. Investors typically look at comparable units advertised for rent in the same building or neighbourhood to estimate what a tenant will pay.
Rent sets the upper boundary of what a property can earn each month. Vacancy, turnover and non-payment cut into that figure, so most investors assume the unit will sit empty for some portion of the year and budget accordingly.
How Borrowing Costs Shape the Decision
An investor buying with a mortgage compares monthly rent against the sum of the mortgage payment, property taxes, strata fees, insurance and a reserve for repairs. The five-year posted rate at major banks is 6.19 percent as of November 11, 2026, though most borrowers negotiate a lower rate. The Bank of Canada's policy rate, which influences variable-rate mortgages and the rates lenders offer, sits at 2.50 percent.
When borrowing costs rise, the monthly carrying cost climbs. When they fall, the gap between rent collected and expenses paid can widen. Investors describe a property as cash-flow positive when rent exceeds all monthly costs, and cash-flow negative when it does not. Many accept a negative position in the early years, counting on mortgage paydown and property appreciation over time.
Vacancy, Turnover and Strata Rules
Every rental property sits empty between tenants. Turnover costs include cleaning, minor repairs, advertising and the weeks or months it takes to find the next occupant. Investors budget for vacancy by setting aside a portion of annual rent, often expressed as a percentage, though the actual period varies by location, season and tenant demand.
Strata corporations—the condominium equivalent of a homeowners' association—set rules that can include rental restrictions. Some buildings cap the number of units that may be rented at any one time. Others require owner approval before a tenant moves in, or prohibit rentals altogether. Investors check the strata bylaws and the rental cap before they buy, because a restriction can eliminate the income stream entirely.
Strata fees cover building insurance, maintenance of common areas, a contingency reserve and sometimes utilities. The fee is a fixed monthly cost that does not fluctuate with occupancy, so it must be paid whether the unit is rented or vacant.
What the Canada Revenue Agency Says About Reporting Rent and Expenses
The Canada Revenue Agency's guide T4036, Rental Income, explains how to report rent and what expenses may be deducted. According to the guide, rental income is the total amount received from tenants, including any payment for services or the use of property. Investors report this income on Form T776, Statement of Real Estate Rentals, and attach it to their annual tax return.
The guide distinguishes between current expenses and capital expenses. Current expenses are the day-to-day costs of earning rental income and are deductible in the year they are incurred. These include advertising, insurance, interest on a mortgage taken to buy or improve the rental property, office expenses, property management fees, repairs and maintenance, property taxes, utilities and travel related to the rental.
Capital expenses, by contrast, provide a lasting benefit and include the purchase price of the building, major renovations and additions. These costs are not deducted in a single year. Instead, the Canada Revenue Agency permits a capital cost allowance, which spreads the deduction over several years according to a prescribed rate for each class of property. Claiming capital cost allowance is optional, and some investors defer it to preserve the deduction for years when income is higher.
The guide notes that if a property is rented for less than fair market value—for instance, to a family member at a discount—the Canada Revenue Agency may limit the expenses you can deduct to the amount of rent you actually collect. It also explains that if you change a property from personal use to rental use, you must determine its fair market value at the time of the change, because that figure becomes the base for calculating capital cost allowance.
Investors who co-own a property report their share of income and expenses according to their ownership percentage. Partnerships follow different rules, and each partner reports their share on their own return.
What It Means for Buyers
Buyers considering a condo as a rental investment weigh the asking price against the rent the unit can command and the monthly cost of ownership. A one-bedroom condo listed at $249,998 or a two-bedroom at $349,900 must generate enough rent to cover the mortgage, strata fees, property taxes, insurance and repairs, or the buyer must be prepared to subsidize the shortfall each month.
Strata rules, vacancy rates and the condition of the building all affect the return. Buyers review the strata's financial statements, its contingency reserve and any upcoming special assessments before they commit, because an underfunded reserve can lead to unexpected levies that cut into cash flow.
What It Means for Sellers
Sellers with tenanted condos market the property to both owner-occupiers and investors. A unit with a tenant in place and a lease that transfers to the new owner can appeal to an investor who wants immediate rental income. The strata's rental policies and the building's reputation among landlords also influence the buyer pool.
Sellers price the unit based on comparable sales and current listings, not on the rent it generates, though an investor will perform their own analysis of income potential before making an offer.
Outlook
Calgary's condo market offers a range of entry points for investors, with one-bedroom units asking a median of $249,998 and two-bedrooms at $349,900. Borrowing costs, rent levels and strata rules will continue to shape who buys and what return they can expect. Investors who understand the carrying costs, budget for vacancy and follow the Canada Revenue Agency's reporting requirements position themselves to make informed decisions in a market where the gap between income and expense determines whether a property pays for itself or requires ongoing support.
If you're exploring Calgary listings or want to understand what a condo investment might look like in your situation, Renanza Realty can walk you through the numbers and the neighbourhoods that suit your goals. Request a free home valuation or reach out to discuss the market.
Sources
Renanza Realty — Analysis of active MLS® listings (CREA DDF®) — Calgary, as of November 14, 2026 Bank of Canada — Target for the overnight rate (policy interest rate), as of November 12, 2026 Bank of Canada — Conventional mortgage, 5-year posted rate (major chartered banks), as of November 11, 2026 Canada Mortgage and Housing Corporation (via Statistics Canada) — CMHC average rents by centre (Table 34-10-0133-01), October 2025 Canada Revenue Agency — Rental income (guide T4036), 2025 edition
Data last checked: 2026-11-14
