Where to find rental demographics/stats in Calgary?

Where to find rental demographics/stats in Calgary?

Calgary, AB · Member since 2021 · 1 post · 0 votes

Hello! My partner and I are looking to purchase our first property in Calgary within the next 6 months. With a budget of ~$400k, we're looking at SFH with basement suites, and plan on living down/renting up (3+2). We're familiarising ourselves with the rental market and wondering if anyone can offer any tips or resources for finding rental stats? We'd like to better understand property value vs. rental prices, but our current approach of going on rentfaster and clicking different listings feels very inefficient...

At bit of background: We've got $120k in savings and are leaning towards 5% down. We're looking at properties with existing illegal suites and converting to legal, or suiting out a basement. We plan to live down and rent up. If 2 bedrooms in basement we will rent out the other as well. We are considering around Ranchlands + area and renting to students, or possibly Shawnessy/south and renting to families, but need to validate. We'd like to have a specific rental demographic in mind before buying. 

We appreciate any and all help! :)

0Reply
25 views

Most Popular Reply

Calgary, Alberta · Member since 2020 · 14 posts · 4 votes
4y

Hi Charlene - funny you ask this, myself and my partner just did this exact same thing in Calgary a few months ago. It's a great idea for the first property. We are currently in the process of living in and legalizing a basement suite in Canyon Meadows. We rented out the main floor suite almost immediately, and it completely covered the cost of the mortgage. Almost any neighborhood along Crowchild trail will work great for this strategy. 


PM me if you'd like more info!

See this reply in the discussion

6 Replies

Jump to latestLatest
  • Rental Property Investor · Port Coquitlam, BC · Member since 2017 · 520 posts · 527 votes
    5y

    Search: CMHC Calgary Rental Market Report

    https://www03.cmhc-schl.gc.ca/hmip-pimh/en/TableMapChart/Table?TableId=2.1.31.3&GeographyId=0140&GeographyTypeId=3&DisplayAs=Table&GeograghyName=Calgary

  • Member since 2021 · 237 posts · 153 votes
    5y

    @Charlene Green

    Rentfaster and padmapper have very current stats also. Keep in mind Cmhc polls the larger players, REITS mainly. Area trends up or down are quite useful but rent prices and actual vacancies are often not terribly accurate.

  • New to Real Estate · Sydney, Aus · Member since 2020 · 28 posts · 13 votes
    5y

    Hi @Charlene Green,

    Great to hear you're looking to get started with Real Estate Investing! When you say you're looking for rental stats, how specific are you trying to be? If you're trying to get stats for specific parts of Calgary, the only way to really do that would be looking at available listings now.

    Rentfaster is an excellent tool and if you filter thee results to what you're looking to purchase, you will get a very clear idea of what you're likely to rent your property out for when you purchase. I find that Rentfaster has the most accurate rental rates around. (Btw, I don't work for rentfaster or anything hahaha!)

    Hope this helps!

    Dom

  • Calgary, Alberta · Member since 2020 · 14 posts · 4 votes
    4y

    Hi Charlene - funny you ask this, myself and my partner just did this exact same thing in Calgary a few months ago. It's a great idea for the first property. We are currently in the process of living in and legalizing a basement suite in Canyon Meadows. We rented out the main floor suite almost immediately, and it completely covered the cost of the mortgage. Almost any neighborhood along Crowchild trail will work great for this strategy. 


    PM me if you'd like more info!

  • Specialist · Mortgage Broker Canada · Member since 2015 · 316 posts · 118 votes
    4y

    @Charlene Green Congrats on taking the first brave step towards homeownership. Like @Account Closed my go-to resource is CMHC every time. Another resource I use is StatCan for Canadian demographics. All the best, Charlene.

  • Lender · Calgary, Alberta · Member since 2020 · 55 posts · 18 votes
    4y

    congratulations!

    that's a great plan that can set you up for success in the future!

    good work

Join the conversationCreate a free account to reply, vote on answers and follow this thread.