UniversityRent Prices & Trends
Comprehensive rental market data and pricing trends for University, Edmonton
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Calculate Fair RentAbout University
Edmonton's University neighborhood surrounds the vast campus of the University of Alberta, creating a dynamic rental market that serves students, faculty, and urban professionals alike. With average rents at $1,775/month - a 27% increase since 2010 - the area offers the full spectrum of housing options. Affordable basement suites averaging $1,004/month provide accessible entry points for students, while detached houses command around $2,372/month, attracting families seeking proximity to top schools and urban amenities. The neighborhood's character reflects its academic roots: tree-lined streets, beautiful parks, and a mix of vintage charm and modern construction create an environment that appeals far beyond the student demographic.
Market Insights
The data tells a story of dramatic market tightening and accelerating growth. After years of modest performance through the 2015-2020 period (including an 8.4% decline in 2020), the market has surged with remarkable momentum. Rents jumped 12% in 2024 alone, following steady gains in previous years. Most striking is the vacancy collapse: from 8.5% in 2020 to just 1.3% today, representing one of Edmonton's tightest rental markets. This isn't just student-driven demand - the University neighborhood has evolved into a highly desirable location for all demographics, with limited new supply unable to keep pace. The combination of sub-2% vacancy and double-digit rent growth signals a market where demand significantly outstrips availability.
For Investors
University represents one of Edmonton's strongest rental investment opportunities, though success requires understanding the market's intensity. With a 1.9% compound annual growth rate since 2010 masking recent acceleration, and a remarkably tight 1.3% vacancy rate, properties here achieve excellent occupancy rates. However, the very tight market creates pricing challenges - while you have leverage, overreach can still backfire as renters have long memories about pricing. Different property types serve distinct markets: basement suites and condos remain student-focused with seasonal turnover, while houses and duplexes attract stable, longer-term tenants drawn by schools and neighborhood quality. Our calculator becomes essential in a 1.3% vacancy environment because while you can command premium rents, pricing too aggressively triggers tenant resistance and potential regulatory scrutiny. Smart investors in hot markets balance maximizing returns with maintaining goodwill.
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For Renters
In University's exceptionally tight market (1.3% vacancy is among Edmonton's lowest), finding any suitable rental can feel challenging, making fair pricing assessment crucial. With only 1-2% of units available at any time, landlords hold leverage, but understanding market rates helps you avoid exploitation in a competitive environment. The $1,400 spread between basement suites and houses reflects both property type and the neighborhood's diversity. What's critical now is acting quickly when you find suitable options priced fairly - in this market, hesitation costs opportunities. Our calculator helps you immediately assess whether a listing is reasonably priced for its characteristics, enabling confident, quick decisions. The 12% year-over-year growth also means locking in a fairly-priced rental today protects you from further increases during your lease term. Whether you're a student seeking affordable housing or a professional drawn to the area's character and convenience, data-driven insights help you navigate this competitive market without overpaying.
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Average Rent by Bedrooms
Average Rent by Property Type
Historical Rent Trends
| Year | Avg Rent | YoY Change | Vacancy |
|---|---|---|---|
| 2010 | $1,395 | — | 5.4% |
| 2011 | $1,367 | -2.0% | 0.6% |
| 2012 | $1,305 | -4.5% | 0.2% |
| 2013 | $1,361 | +4.3% | 0.2% |
| 2014 | $1,439 | +5.7% | 0.8% |
| 2015 | $1,475 | +2.5% | 1.8% |
| 2016 | $1,491 | +1.1% | 6.7% |
| 2017 | $1,430 | -4.1% | 4.4% |
| 2018 | $1,486 | +3.9% | 6.2% |
| 2019 | $1,579 | +6.3% | 3.5% |
| 2020 | $1,447 | -8.4% | 8.5% |
| 2021 | $1,457 | +0.7% | 4.9% |
| 2022 | $1,533 | +5.2% | 2.7% |
| 2023 | $1,585 | +3.4% | 1.8% |
| 2024 | $1,775 | +12.0% | 1.3% |