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CoStar Insight

Calgary multifamily market navigates a broad recalibration

Landlords rely more on incentives to sustain occupancy
Bow33, a 45-unit midrise apartment building in Calgary's suburbs, completed construction in 2026. (CoStar)
Bow33, a 45-unit midrise apartment building in Calgary's suburbs, completed construction in 2026. (CoStar)
CoStar Analytics
June 10, 2026 | 11:56 AM

Rental apartment demand in Calgary is entering a new phase. The number of new projects starting construction has slowed significantly from the same time last year — and is expected to decline further over the rest of 2026.

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