Investing in Edmonton rentals: the numbers
Edmonton draws cash-flow investors for one reason: the prices are low and the rents still cover the mortgage on many deals. It is one of the few large Canadian markets where the basic math pencils without betting on appreciation. Here are the numbers.
Edmonton at a glance
| Average 2-bedroom rent | $1,500/mo (CMHC Rental Market Report, October 2025) |
|---|---|
| Average 1-bedroom rent | $1,250/mo (CMHC Rental Market Report, October 2025) |
| Rent growth, year over year | 4.2% (CMHC Rental Market Report, October 2025) |
| Rental vacancy rate | 2.8% (CMHC Rental Market Survey, October 2024) |
| Typical multi-family cap-rate band | 5.0 to 7.0% (CBRE / Colliers Canada cap-rate surveys, 2024-2025) |
| City residential mill rate | 5.44 per $1,000 of assessed value, 2024 (municipal tax bylaws, 2024) |
| Rent control | No cap on the increase amount, once per 12 months |
Figures from CMHC, CBRE and Colliers Canada surveys and municipal tax bylaws. Cited with each row above. Rents are existing-tenant averages; new leases on turnover usually run higher.
A Edmonton fourplex, run in full
Take a small four-unit building in Edmonton. Using the CMHC Rental Market Report, October 2025 average two-bedroom rent of $1,500 a month across the four units, gross rent comes to about $6,000 a month, or $72,000 a year. At a purchase price near $720,000, the math looks like this.
Property tax at Edmonton's residential mill rate of 5.44 per $1,000 runs about $3,917 a year. Add roughly $20,200 for insurance, maintenance, management, and a vacancy reserve, and total operating expenses land near $24,117. That leaves a net operating income around $47,883 a year. That works out to a cap rate near 6.7%, in line with the 5.0 to 7.0% band that CBRE and Colliers Canada cap-rate surveys (2024 to 2025) report for Edmonton multi-family.
Now add the mortgage. With 20% down on a 30-year amortisation at current rates, the debt service is the line that decides whether this deal cash-flows. If it qualifies for CMHC MLI Select, a 1.10 DSCR threshold and a 40-year amortisation path change the math in your favour. That is the kind of difference a US-built tool misses, because it does not carry the CMHC paths at all. The numbers only hold if the rents, the unit count, and the mill rate are real, not what the listing claims.
What is specific to Edmonton
- Edmonton's residential mill rate is higher than Calgary's, so property tax takes a bigger bite of your net operating income on a same-priced building.
- Alberta charges no land transfer tax, which keeps closing costs down.
- Cash flow is the local draw, so the deal lives or dies on accurate rents and a real vacancy figure, not on price appreciation.
Run a real Edmonton listing through BrickROI.
Paste the realtor.ca URL and the Canadian property data fills in the price, taxes, and rent comps. You get cap rate, DSCR, cash-on-cash, the CMHC and MLI Select paths, and a lender-ready PDF in two minutes.
Try a dealWant to run the numbers yourself first? Start the cash-on-cash calculator with this example's figures.
Edmonton investor questions
Is Edmonton a good place to invest in rentals?
It depends on the specific deal. Edmonton has an average two-bedroom rent of $1,500 a month and a rental vacancy rate of 2.8% per the CMHC Rental Market Survey, October 2024. Run the actual numbers on the building before you decide.
What is the average cap rate in Edmonton?
CBRE and Colliers Canada cap-rate surveys (2024 to 2025) put Edmonton multi-family in roughly a 5.0 to 7.0% band. Verify against the actual rents and the city mill rate, because a specific building can land outside that range.
What is the average rent in Edmonton?
Per the CMHC Rental Market Report, October 2025, the average two-bedroom rent in Edmonton is $1,500 a month and the average one-bedroom is $1,250. Rents grew about 4.2% year over year. New leases on turnover typically run higher than these existing-tenant averages.
Does rent control apply in Edmonton?
Alberta has no rent control on the amount of a rent increase. A landlord can raise rent once every 12 months for an existing tenant, with three months written notice.