The average cost of buying and renting housing in Calgary is steadily decreasing, but one elected official said it has nothing to do with the city’s re-designation of residential zoning areas. 

In a video posted to YouTube on May 22, Ward 7 Coun. Terry Wong addressed concerns raised by residents of his ward. This included his perspective on the housing market, affordability, safety, and the environment. 

Coming just five months short of the next municipal election, Coun. Wong began the video by answering whether he thought that citywide rezoning has made attaining living accommodations more affordable. 

“That’s a really good question, but the answer is no,” he said in the video.

“Since blanket rezoning was approved in August 2024, we have not seen evidence that housing prices have gone down.”

However, a May 2025 report by the Calgary Real Estate Board found that the average purchasing price for all residential dwelling units — including detached, semi-detached, row, and apartments — has decreased by 1.4 per cent since April 2024. 

The document cited that “a boost in new listings” in the city has added to the housing supply inventory, which has consequently lowered prices and steered the market toward stability.

Despite this, the report noted that while the price of buying a semi-detached home, specifically, has increased since last year, the cost of owning an apartment and row-style home has remained practically the same.

For the most part, apartment and suite living arrangements are often occupied by renters, as Wong pointed out in the video. 

“With more housing supply, rental prices will come down,” he said.

“We have not seen that happen.”

But according to data released by Rentals.ca in collaboration with Urbanation, the average asking price for rent in Calgary has decreased by 9 per cent since April 2025, contributing to the 3 per cent dip in national renting costs overall. 

While renting in Edmonton has remained relatively affordable compared to Canada’s other major municipalities, Calgary has held the seat as having the most significant decrease in expenses across the country.

What Wong correctly identified was the ratio between the pretty penny that tenants are paying compared to what it is they’re receiving as shelter. 

“When it comes to rental situation, we’re still seeing rents around the $1,600 one-bedroom, $2,000 two-bedroom, $3,000 for a house,” he said.

“I don’t know anybody who can afford that on a single income.”

Not because of blanket rezoning, says Wong

Wong reiterated that the shift toward blanket rezoning was intended to add more stock to the housing market, and that, in turn, this could eventually lower prices for both buyers and borrowers. 

“We haven’t seen the housing stock [be] built yet,” he told LWC. 

“It takes time for that.”

In a briefing released this spring, the city outlined the impact that rezoning amendments have had on Calgary’s housing supply. 

“Since its implementation on August 6, 2024, citywide rezoning has significantly increased the diversity and supply of housing options in Calgary,” read the briefing. 

Celebrating the opportunities supported by blanket rezoning, the document informed that in the first quarter of 2025, the city has seen a 59 per cent increase in residential development permits when compared to the beginning of 2024. 

Additionally, citing a survey by the Canada Mortgage and Housing Company, the briefing summarized that 4,995 residential developments have broken ground since the new year, demonstrating a 15 per cent increase from the preceding quarter. 

Yet, Wong said that it’s still too early to declare whether or not improvements to accommodation expenses and housing development are because of the city changing zoning requirements. 

“You won’t see the effect of that for at least a year,” he said.

“So any drop today is not a result of blanket rezoning.”

Even if these downward trends continue following the amendments’ anniversary this summer, Wong said that external elements will likely play a role in prohibiting exclusively affordable options from becoming available in the future. 

“There’s a number of different factors that will drop rental prices and drop housing prices,” he said. 

“Increasing stock is certainly one of those, but similarly, inflation [can also] counteract this as well.”

The city is scheduled to weigh the successes and setbacks of citywide rezoning during an Infrastructure and Planning Committee meeting on June 4.