Is Calgary the best place for a Rental income property in Canada?
Using a very simplistic approach it can be shown that Calgary is the best place for an income property of Canada’s major cities. Here is what I did:
Take the average residential property price in the city and divide by the average monthly rental cost in that city. This gives a ratio and the higher the ratio the more one has to spend to get a level of rental income.
In Calgary the average house price is $522,000 and the average rental is $1862/month. This gives a ratio of 280.
In Vancouver this ratio is 391. That is 40% higher than Calgary;
In Toronto this ratio is 386. That is 38% higher than Calgary;
In Montreal this ratio is 305. That is 9% higher than Calgary.
This does not take into account income taxes or the regulatory environment around tenancies which from all accounts is better in Alberta than most other provinces.
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