Is Edmonton’s Rental Market Running Out of Steam?

A major rental market adjustment may be on the horizon for Edmonton, Alberta.

By Wayne Hillier, Real Estate Investing Masters

May 1, 2025 | Edmonton, AB

Rents in Edmonton have surged over the past year — especially for suited homes, three-bedroom main floors, and townhouses.

But how long can that momentum last?

After analyzing the latest rental inventory data from RentFaster, it’s clear we may be at a tipping point. There are early signs of a correction forming, and investors who are relying on today’s rents to justify their deals could be exposed in the next 12–24 months.

What the Numbers Are Telling Us

As of May 1st:

• Edmonton has only 119 main floor suites listed for rent

• Townhouses: 182 listings

• True single-family homes: Closer to 50, once you remove miscategorized suited units

Meanwhile, Calgary has 327 main floor listings — nearly triple Edmonton’s inventory — and their rent prices are already declining across multiple categories.

This confirms one thing: Edmonton still has a tight rental market, but it likely won’t stay that way for much longer.

Why This Matters for Investors

Many investors are still analyzing deals based on peak rents — assuming today’s numbers will hold for years.

But just last year, Calgary saw a sharp rent correction from July to November as oversupply collided with affordability. The exact same investor behavior is now unfolding in Edmonton: builders ramping up, buyers flooding in, and tenants being pushed to the edge of what they can afford.

If you’re investing in:

• Three-bedroom main floors

• Townhouses

• Suited homes or MLI Select builds

…you need to start running your numbers with reduced rent assumptions and higher vacancy expectations.

My Bold Prediction

Based on the current data, investor sentiment, and historical rent cycles in Alberta:

Main floor unit rents in Edmonton could drop by ~20% over the next 12–24 months.

This isn’t fear-based forecasting — it’s a cautionary PSA.

We’re watching rents stretch beyond what the market can reasonably sustain, and if supply continues to grow as expected, pricing pressure will follow.

What You Should Be Doing Right Now

Here’s how to protect yourself in today’s shifting market:

• Stress test your deals. Reduce rent by $300/month. Add 5% vacancy. Still profitable?

• Build a reserve fund. At minimum, 10% of rent should be saved monthly for future vacancies or repairs.

• Study market cycles. Edmonton has been here before. Strong markets cool — smart investors prepare.

Final Thoughts

Edmonton is still one of the best markets in Canada for long-term investing — but that doesn’t mean it's immune to corrections.

The smartest investors aren’t chasing returns at the peak. They’re planning for what’s next.

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Wayne Hillier - Alberta Real Estate Investing Expert

About the Author

Wayne Hillier is one of Canada’s trusted experts in real estate investing education, specializing in Alberta’s thriving markets. Based in Edmonton, Wayne has over a decade of experience building a high-performing rental portfolio and coaching investors to achieve strong cash flow, sustainable wealth, and creative financing success. As co-founder of Real Estate Investing Masters, Wayne is a respected real estate investing coach and mentor, dedicated to helping Canadian investors confidently scale their portfolios. He is also the host of the Real Estate Investing Morning Show, where he shares daily strategies and insights for mastering real estate investing in Canada.