GarneauRent Prices & Trends
Comprehensive rental market data and pricing trends for Garneau, Edmonton
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Calculate Fair RentAbout Garneau
Garneau stands as one of Edmonton's most charming and historic neighborhoods, blending university proximity with established community character. With average rents at $1,592/month - a 43% increase since 2010 - the area offers diverse housing that reflects its century-old heritage and ongoing renewal. Remarkably affordable basement suites averaging just $841/month provide accessible housing for students and young professionals, while detached houses command around $2,070/month, attracting families and academics seeking community feel with urban convenience. What defines Garneau is its village atmosphere - tree-canopied streets, the iconic farmers' market, independent shops on 109th Street, and architectural variety from century homes to modern infills create a neighborhood that feels both rooted and vibrant.
Market Insights
The data reveals a market experiencing significant tightening and accelerating appreciation. After years of volatility through the 2015-2020 period (including a 5.4% drop in 2020 and 7% vacancy in subsequent years), Garneau has emerged as one of Edmonton's hottest rental markets. Rents jumped 10.9% in 2024 following steady gains in recent years, while vacancy collapsed to just 1.0%, making it one of the city's tightest markets. This isn't simply student-driven demand - Garneau's appeal has broadened significantly to include young families, professionals, and empty-nesters drawn by walkability, community, and character. The combination of sub-1% vacancy and double-digit growth indicates a fundamental supply-demand imbalance in one of Edmonton's most desirable neighborhoods.
For Investors
Garneau offers compelling rental investment fundamentals for those who can access this tight market. With a 2.9% compound annual growth rate since 2010 accelerating sharply in recent years, and a remarkably tight 1.0% vacancy rate, properties here achieve exceptional occupancy while commanding growing rents. The challenge is pricing in such a landlord-favorable environment - while leverage exists, maintaining long-term tenant relationships in a community-focused neighborhood matters more than maximum extraction. Different property types serve distinct niches: basement suites remain student-oriented but increasingly attract young professionals; houses and duplexes draw stable, long-term tenants valuing Garneau's lifestyle. Our calculator becomes crucial in a 1% vacancy market not to maximize rent but to price fairly while capturing market appreciation - aggressive overpricing in a tight community market can damage your reputation and trigger tenant advocacy. Smart investors here balance strong returns with being good neighborhood citizens.
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For Renters
Garneau's exceptionally tight 1.0% vacancy rate makes finding suitable housing genuinely challenging, elevating the importance of understanding fair market rent. With essentially no available inventory, landlords hold significant leverage, but knowing market rates helps you avoid exploitation while moving quickly on appropriately-priced opportunities. The dramatic $1,200 spread between basement suites and houses reflects property type differences, but also Garneau's unique neighborhood premium - you're paying for community, character, and quality of life. In a market this tight, our calculator provides immediate assessment capability: when you find a potential rental, you need to know instantly if it's fairly priced because hesitation costs opportunities. The 10.9% year-over-year growth also means securing fairly-priced housing today provides significant protection against further increases during your lease. Whether you're a student seeking affordable charm, a young professional wanting walkable urban village living, or a family drawn to community and schools, data-driven insights help you navigate one of Edmonton's most competitive rental markets while maintaining fair value.
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Average Rent by Bedrooms
Average Rent by Property Type
Historical Rent Trends
| Year | Avg Rent | YoY Change | Vacancy |
|---|---|---|---|
| 2010 | $1,110 | — | 2.7% |
| 2011 | $1,206 | +8.6% | 1.0% |
| 2012 | $1,160 | -3.8% | 0.8% |
| 2013 | $1,376 | +18.6% | 0.6% |
| 2014 | $1,446 | +5.1% | 0.6% |
| 2015 | $1,381 | -4.5% | 2.5% |
| 2016 | $1,432 | +3.7% | 6.9% |
| 2017 | $1,419 | -0.9% | 7.1% |
| 2018 | $1,406 | -0.9% | 2.8% |
| 2019 | $1,453 | +3.3% | 3.5% |
| 2020 | $1,374 | -5.4% | 7.2% |
| 2021 | $1,419 | +3.3% | 5.9% |
| 2022 | $1,380 | -2.7% | 1.6% |
| 2023 | $1,435 | +4.0% | 0.5% |
| 2024 | $1,592 | +10.9% | 1.0% |