Fact Check: "The average rental rate for condos in Calgary was $1,771 per month last October."
What We Know
The claim that the average rental rate for condos in Calgary was $1,771 per month last October is supported by multiple sources. According to a report from The Globe and Mail, the average rental rate for condos in the secondary market in Calgary was indeed $1,771 per month in October 2024. This figure aligns with data from News.iAsk.ca, which also confirms the same rental rate for that period. Furthermore, a report from Rentals.ca noted a significant increase in rental prices, corroborating the claim that the average rent for two-bedroom units in Calgary reached $1,771, reflecting a 17% increase over the past year (CBC).
Analysis
The evidence supporting the claim is robust, coming from reputable sources such as The Globe and Mail and Rentals.ca. The Globe and Mail is a well-established Canadian newspaper known for its in-depth reporting on real estate and economic trends, which adds credibility to the information presented. The data provided by Rentals.ca also reflects broader trends in the rental market, indicating that the rental rates are not only consistent but also part of a larger pattern of increasing rental prices in Calgary.
However, it's important to note that while the average rental rate for condos was $1,771, this figure pertains specifically to the secondary rental market. The primary rental market, which includes purpose-built rental units, had an average rent only $27 higher than this rate, indicating a relatively close pricing structure between the two markets (The Globe and Mail). This context is crucial for understanding the dynamics of Calgary's rental market.
The sources used are credible and provide a clear picture of the rental landscape in Calgary. The Globe and Mail's reporting is particularly reliable due to its established reputation, while Rentals.ca offers specific data that reflects current market conditions. Therefore, the claim can be considered accurate based on the available evidence.
Conclusion
Verdict: True
The claim that the average rental rate for condos in Calgary was $1,771 per month last October is substantiated by multiple credible sources. The consistency of this figure across different reports reinforces its accuracy, making it a reliable statement about the rental market in Calgary during that time.
