Calgary Migration in 2026

Let's put the last few years into perspective.

According to the City of Calgary's latest population estimates, net migration into the city was approximately:

2022: 19,100 people

2023: 66,600 people

2024: 80,200 people

2025: 40,500 people

That 2023–2024 period was enormous.

In 2024 alone, Calgary's estimated population grew about 6.2%.

Think about what that means.

Those aren't simply numbers added to a spreadsheet.

Those are people who need apartments.

Houses.

Schools.

Groceries.

Doctors.

Restaurants.

Warehouses.

Offices.

Construction.

Transportation.

And yes…

Mortgages.

When tens of thousands of additional people arrive in a relatively short period, housing doesn't magically appear beside the Welcome to Calgary sign.

There isn't one answer.

For many Canadians moving from other provinces, affordability was part of Calgary's attraction.

Someone looking at housing costs in Vancouver or Toronto could come to Calgary and see a very different real-estate equation.

But affordability wasn't the only attraction.

Calgary offered employment opportunities, relatively high incomes, no provincial sales tax, access to the mountains, newer communities, comparatively larger homes and a growing business environment.

Then something interesting happens.

Migration creates more migration.

Your brother moves here.

Then your cousin visits.

Then your friend starts asking:

“So… what are houses actually worth there?”

A few years later half the family somehow owns winter tires.

This is extremely important if you're buying real estate today.

We shouldn't take Calgary's extraordinary population growth from 2023 and 2024 and simply draw the line upward forever.

The City of Calgary currently forecasts the city's population at approximately 1.583 million in 2026, representing growth of about 1.6%.

Net migration is forecast at approximately 15,500 people.

Compare that with approximately 80,200 in 2024.

That's a massive slowdown.

The Calgary Economic Region tells a similar story. The City forecasts regional population growth around 1.7% in 2026, with net migration around 22,600.

So Calgary is still growing.

People haven't suddenly packed up and abandoned the city.

But the speed has changed dramatically.

And that distinction matters.

Part of the answer is national immigration policy.

Canada has changed its immigration targets and policies surrounding temporary residents, which is reducing the extraordinary international population growth seen in previous years.

Interprovincial migration has also cooled.

CREB's 2026 outlook noted that Alberta's net international migration during the first three quarters of 2025 had fallen dramatically compared with the same period in 2024. Interprovincial migration was also significantly lower.

That doesn't mean Calgary suddenly became undesirable.

It means the population surge was extraordinary and we're moving toward something closer to normal.

Honestly?

That's probably healthier than trying to add 5% or 6% to the population every year.

This is where I don't want people making the wrong conclusion.

Slower migration does NOT automatically mean:

“Calgary real estate is going down.”

And strong migration doesn't automatically mean:

“Buy anything with four walls.”

Real estate isn't that simple.

Migration is one demand factor.

Supply matters too.

Interest rates matter.

Employment matters.

Construction matters.

Household formation matters.

Property type matters.

Neighbourhood matters.

And price matters.

Calgary responded to the population boom with significant new construction.

CREB expects a large amount of housing that has been under construction to continue reaching the market, particularly apartment-style rental and ownership units.

At the same time, migration has slowed.

That's one reason we're seeing very different conditions depending on what type of Calgary property you're talking about.

Migration doesn't affect every property equally.

Imagine 20,000 people move into Calgary.

They don't all arrive looking for a $900,000 detached house.

Some rent.

Some buy condos.

Some need townhouses.

Some live with family initially.

Some buy detached homes.

Some eventually become investors.

Different population groups create different types of housing demand.

That's why I don't like hearing:

“Calgary's population is growing, so this must be a good investment.”

Okay.

Tell me more.

What property?

What neighbourhood?

What price?

What rent?

What supply is coming nearby?

Who's actually going to live there?

Now we're talking.

For investors, population growth is obviously important.

More households can create additional housing demand.

But please don't send me a rental property losing $900 per month and explain:

“Don't worry, Harpreet. Calgary is growing.”

I appreciate the optimism.

Now show me the numbers.

What is realistic rent?

What's the vacancy risk?

What are the property taxes?

Insurance?

Maintenance?

Condo fees?

Mortgage?

What competing rental supply is coming into that area?

Could we improve the property?

Add a legal suite where permitted?

Increase functionality?

Buy below replacement cost?

Does the location have something special?

Population growth can support a good investment thesis.

It cannot rescue a bad spreadsheet.

This is the part I find especially interesting.

When a city adds hundreds of thousands of people, those people don't distribute themselves perfectly across every community.

Certain areas receive new housing.

New schools appear.

Retail follows rooftops.

Roads expand.

Transit changes.

Businesses move.

Commercial centres develop.

Communities that once felt “far away” suddenly don't feel quite so far when another ten neighbourhoods appear behind them.

That's why when I'm looking at an investment property, I don't only want to know what exists there today.

I want to ask:

What's being built?

What's planned?

What's the zoning?

Where are the major employment centres?

What infrastructure is coming?

Where is retail expanding?

What does this community potentially look like ten years from now?

Sometimes the most interesting part of an address isn't what's beside it today.

It's what's coming tomorrow.

This is something real-estate investors sometimes forget.

More people means demand for more than residential property.

People need:

Daycares.

Medical clinics.

Restaurants.

Gyms.

Warehouses.

Professional services.

Retail.

Offices.

Entertainment.

And countless other businesses.

Residential growth eventually creates commercial demand.

That's why I think about migration as an economic story, not simply a housing story.

A growing city needs places for people to live.

But it also needs places for those people to work, shop, eat and build businesses.

The two are connected.

The City currently forecasts Calgary's population continuing to grow through the rest of this decade.

Its Spring 2026 outlook projects approximately:

2026: 1.583 million

2027: 1.609 million

2028: 1.635 million

2029: 1.662 million

2030: 1.689 million

2031: 1.718 million

So the current forecast isn't:

“Calgary stopped growing.”

It's:

“Calgary keeps growing, but at a much more manageable pace.”

That's a completely different story.

And from a long-term planning perspective, I actually find that more useful than assuming another extraordinary migration wave every year.

No.

You should never buy a property because of one statistic.

Migration is one piece of the puzzle.

If you're buying your family home, let's talk about affordability, neighbourhood, lifestyle, schools, commute, property condition and how long you expect to stay.

If you're buying a rental, let's talk about rent, cash flow, supply, location and future potential.

If you're buying a flip, let's talk about purchase price, renovation cost and resale value.

If you're looking at land or redevelopment, then population growth, zoning, infrastructure and long-term neighbourhood changes become even more interesting.

I don't want you buying “Calgary.”

You can't.

You're buying ONE property on ONE street at ONE price.

That's what we need to analyze.

The migration boom changed Calgary.

Fast.

Hundreds of thousands of additional residents arrived during a relatively short period, housing construction accelerated and communities expanded.

Now we're entering the next chapter.

Population growth is slowing.

Housing supply is catching up in parts of the market.

Buyers have more choice.

And investors need to become more selective.

Personally, I like selective markets.

Because when everything is going up, everybody looks smart.

It's when the market becomes more balanced that you find out who actually understands what they're buying.

So don't call me and say:

“Harpreet, Calgary is growing. I want to buy an investment.”

Call me and say:

“Harpreet, Calgary is growing — and I found THIS property. Does it make sense?”

Perfect.

Send me the address.

Now we have something worth talking about.

Population brings demand.

Supply creates competition.

And the property you choose determines whether you actually participate in the opportunity.

Population figures and forecasts referenced in this article are based primarily on the City of Calgary's Spring 2026 Calgary and Region Economic Outlook. Population and migration figures for recent years include estimates, while future figures are forecasts and can change. Real-estate performance varies significantly by property type, location, price range and market conditions. This article is for general educational purposes and is not financial, investment, legal, tax, mortgage or real-estate advice.