Calgary’s real estate landscape is being reshaped by sustained population growth, a tightening rental market and renewed economic momentum, factors that both fuel demand and elevate the importance of strategic neighbourhood selection. In late 2024, apartment vacancy dipped to just 4.6%, driving average rents upward, while CREB’s 2025 outlook forecasts roughly 26,000 home sales, about 20% above long-term norms, with price growth near 3% annually. Under these conditions, pinpointing the communities best positioned for rental stability and capital appreciation becomes essential.
Given this positive outlook, Jesse Davies, leader of the Jesse Davies Team with Century 21, shared his top five Calgary neighbourhood picks for investment.
1. Bridgeland
Bridgeland (Riverside) is an inner-city NE community immediately adjacent to downtown. It is a mature neighbourhood of low-rise apartments, townhomes and older detached houses. In the past year, Bridgeland’s median home sold price (all housing types) was about $462,000, which is below the citywide average, reflecting a mix of condos and modest houses. Houses and townhomes can sell above $800,000 for large, renovated units, but the median remains below that due to more affordable condos.
Future Prospects
Limited new supply and ongoing infill mean Bridgeland remains in high demand. Redevelopment and streetscape improvements, such as along 1st Avenue NE and near the C-Train station are underway, which is set to enhance long-term value. The neighbourhood’s mix of historic and new housing means it benefits from both character and fresh supply.
Students, young professionals and downsizing seniors all show demand for limited units here. Long-term, proximity to downtown and a fixed urban grid mean Bridgeland should continue to outpace older suburbs in appreciation.
Rental Market
Rents in Bridgeland are among the highest in Calgary’s core. The median rent in Bridgeland is about $2,140 per month for all unit types. A typical 1-bedroom apartment rents near $1,965 and a 2-bedroom around $2,392.
Davies notes, “Many investors value Bridgeland for its consistent tenant base and capital stability. Bridgeland’s location makes rental demand consistently high. It has a C-Train station (Bridgeland/Memorial on the Blue Line), quick downtown access, and is surrounded by eateries, shops and parks.”
Investment Strategy
Investors in Bridgeland often target low-rise condo apartments and townhomes, to capture the high rent per unit, or renovate under-valued houses on large lots. Since inventory is limited, buying “move-in” condition units for cash flow is common. Positive cash flow can be modest given high entry prices, but capital growth and stable occupancy make Bridgeland attractive for long-term hold, according to Davies.
2. Killarney-Glengarry
Killarney-Glengarry is a mature SW inner-city community west of Downtown Calgary. It features a mix of bungalows, laned houses, and many low-rise condos. In the past year, its median home sold price was about $768,000, among the highest in the city, reflecting mainly single-family and townhome sales. Price appreciation has been modest recently, keeping values roughly flat year-over-year. Redevelopment with new infill homes is common as older houses are replaced, but most homes still date from the 1950s to the 1970s. Newer, laned homes may exceed $1 million.
Future Prospects
Long-term, Killarney benefits from planned city investment, according to Davies. The coming Stage 3 LRT extension will improve transit to the downtown core. The Killarney/Glengarry Area Redevelopment Plan encourages gentle intensification, meaning more infill and potentially new condos over time. These factors support moderate price growth.
Rental Market
Rental rates in Killarney are relatively lower than the property sale prices might suggest. The median rent across all unit types is about $1,853. Houses for rent are rare but fetch higher rents of about $2,750 for large homes. Investors here accept tight cash flow in exchange for solid capital growth prospects, according to Davies.
Killarney’s central location, minutes from downtown and the banks of the Elbow River, along with excellent transit and amenities, means tenant demand remains strong. Vacancy is low as renters, which typically include young families and professionals, seek the mix of inner-city convenience and quiet side streets.
Investment Strategy
Targeting renovated older homes or new infills can help command top rents. Successful strategies often involve renting to families or long-term tenants, and holding for appreciation. Condos are less common, but quality boutique condos can also do well here.
3. Brentwood
Brentwood is a well-established NW Calgary neighbourhood bordering the University of Calgary and the Alberta Children’s Hospital. It is a mix of older detached homes, townhomes, and newer condos. In April 2025, Brentwood’s average home price (all types) was about $585,000. This represents a modest annual increase of 1.6% year-over-year. Condos and townhouses are available in the $300,000 to $450,000 range, with rising price trends.
Future Prospects
Brentwood is undergoing gradual densification. A major redevelopment is planned for the area around Brentwood Station, including new condos, retail, and a mixed-use village. The West LRT already serves it, and future transit improvements are likely. CREB forecasts faster price growth in more affordable segments, and Brentwood’s balanced mix could benefit from this trend.
Rental Market
Rents in Brentwood are strong. The median rent is about $2,232 per month, comprising high-end apartments and houses. Rents range from about $1,738 for a one-bedroom apartment to $2,300 for a house. As Davies comments, “Given the relatively affordable home prices, these rental rates are attractive by Calgary standards.”
Brentwood’s proximity to the University of Calgary and SAIT, plus major hospitals, makes it a renters’ hot spot. Students, faculty and medical staff all seek housing here, as do families drawn by parks and schools. Public transit is excellent (Brentwood C-Train station on the Blue Line serves West LRT). Vacancy is minimal; areas like the University District and Brentwood see virtually no available units. The neighbourhood often achieves near-100% occupancy for well-maintained rentals.
Investment Strategy
Investors in Brentwood often pursue condo and townhouse projects near transit for high rental appeal, or smaller single-family homes that command family rents. Because students and young professionals drive demand, keeping units updated and furnished can maximize returns. Many investors also take advantage of redevelopment (e.g. renovating older homes). In sum, Brentwood offers a mix of steady capital growth and solid yields higher than the inner-city average, thanks to its unique tenant draw.
4. Mahogany
Mahogany is a master-planned lake community in SE Calgary, built since 2007. It consists mainly of newer single-family homes, townhouses, and condos around a large man-made lake. The median home sold price over the past year was about $687,872, but new houses routinely list from $700,000 to over $1 million, making Mahogany one of Calgary’s highest-priced suburbs.
Future Prospects
Mahogany still has undeveloped parcels, which will bring more homes. The City plans to add schools, commercial areas like Westman Village, and pathways, increasing the community’s self-sufficiency. When the planned expansion of the South Health Campus and Blackfoot Trail retail arrives, Mahogany’s appeal will further rise.
Being a prestigious lakeside suburb, Mahogany is expected to see steady appreciation as Calgary’s population grows into the periphery. CREB’s forecast of slower price growth may mean Mahogany stabilizes in the near term, but long-term value is underpinned by its unique waterfront amenities.
Rental Market
Mahogany’s rental market is relatively new. The median rent is about $2,025, with one-bedroom apartments renting for about $1,549, and single-family rentals averaging $2,395. Houses average about $3307. Yields are modest, but Mahogany’s consistent family occupancy yields low turnover.
Davies notes, “Tenants tend to be families wanting luxury homes without buying, such as relocating executives with families. Vacancy is low for desirable units; new developments like the Mahogany Village condos rent quickly.”
Investment Strategy
Investors who buy new-build homes often rely on appreciation in this growing area more than a high rental yield. In Mahogany, investors usually purchase newer single-family homes or townhomes. Since condos are scarce, the focus is on leasing houses to secure families. Holding periods tend to be longer to realize gains.
Some investors also offer short-term rentals during peak seasons, offering the appeal of the lake lifestyle. Overall, Mahogany is a higher-end, suburban play, benefiting from a steady, affluent tenant base and ongoing community maturation.
5. Tuscany
Tuscany is a large NW Calgary suburb on the city’s outskirts (near Crowchild Trail and the Rocky Mountains). It is a relatively mature family community, developed since the 1990s, with a mix of detached homes, duplexes and some townhomes. In the past year, the median home sold price in Tuscany was roughly $684,275. Tuscany offers a wide range of homes, from standard bungalows to modern walk-outs or acreages. Townhomes and duplex units are more affordable but less common. Overall, Tuscany provides a blend of suburban space and high-quality development.
Future Prospects
Davies advises, “Tuscany’s age means mature infrastructure, but also limited further densification. The most significant future development is likely small infill projects. However, the LRT link and continued population growth in NW Calgary support steady values.” Tuscany offers relative affordability compared to inner-city and high-end suburbs, and appeals to upwardly mobile families. The Calgary Real Estate Board (CREB) expects lower-priced resale homes, such as can be found in this neighbourhood, to see stronger price growth, supported by steady demand and limited supply.
Rental Market
Rental rates are solid. Zumper reports an average rent of about $2,106 per month in Tuscany. Single-family rentals such as four-bedroom houses often rent for over $2,500; Tuscany has strong rental demand from families and professionals. Rents rose in the NW suburbs by 10.4% in 2024. The neighbourhood’s parks, shopping, and proximity to oil-field operations keep demand steady. Vacancies are low, so rentals, especially larger homes, typically lease quickly.
Investment Strategy
The typical strategy is to buy single-family homes or executive townhouses, hold long-term, and lease to families at full market rent. Investors often renovate kitchens/baths and professionally manage properties. Given the strong rent-to-price ratio of 3.5% and low turnover, Tuscany can deliver reliable cash flow. Newer developments in the area also include multi-family phases, offering occasional condo investment opportunities which often see quick absorption.
| Neighbourhood | Median Home Price (2025) | Median Rent (per month) | Transit/Location Highlights |
|---|---|---|---|
| Bridgeland | $462K | $2,140 | Inner-city; C-Train (Blue Line); walkable to downtown and shops. |
| Killarney- Glengarry | $768K | $1,853 | Inner SW; near Westbrook Mall & LRT; affluent suburban feel. |
| Brentwood | $587K | $2,232 | NW core; adjacent to UofC, hospitals; C-Train access. |
| Mahogany | $688K | $2,025 | SE waterfront community; family-oriented; growing amenities. |
| Tuscany | $684K | $2,106 | Outer NW; LRT station; suburban with strong schools and parks. |
As a top Calgary investment realtor, Davies combines a deep understanding of each community’s nuances with a proven track record of matching investors to the properties best aligned with their objectives. He leverages comprehensive market intelligence and tailored investment strategies for every client, to ensure that they secure the right properties to expand their portfolios and achieve their long-term investment goals.
