Short-Term Rental
Market in Calgary

Uses AirDNA data and an innovative cluster-based methodology — moving beyond arbitrary "dedicated STR" thresholds — to document the scale, structure, host characteristics, and geographic distribution of Calgary's STR market in detail.

A systematic comparative analysis of STR regulatory strategies across 25 Canadian municipalities, documenting the range of approaches taken and their design features — providing the comparative context for Calgary-specific recommendations.

Reviews and synthesizes the international causal empirical literature on STR impacts on long-term rental prices, housing prices, and housing investment — and the effects of STR restrictions on those markets. Finds that STRs explain 5–20% of LTR rent increases and 14–33% of housing price increases, but that restrictions create distributional trade-offs between renters, homeowners, and economically disadvantaged hosts.

Critically examines three high-profile Canadian reports on STRs and long-term rental prices — Wachsmuth, Conference Board of Canada, and Desjardins — exposing methodological problems including omitted variable bias, staggered timing in DID models, and a significant coefficient misinterpretation in the Wachsmuth report. Argues that none of the reports provide causal evidence sufficient to conclude that restricting STRs would decrease long-term rental prices.

Uses AirDNA STR data and CMHC community-level LTR rent data in a fixed-effects regression framework to measure the association between STR supply and long-term rental prices in Calgary, 2015–2022. Finds that changes in STR listings are not statistically significantly associated with changes in average LTR rents city-wide. An increase of 100 STRs is associated with a 1.6–6.6% increase in average LTR rents, but this is small in magnitude and not statistically significant across model specifications. Community-level analysis reveals heterogeneity: in the Beltline — Calgary's highest-STR community — STR growth between 2017 and 2022 accounts for $34/month, or 15%, of the rent increase over that period.

Develops the concept of "regulatory fractures" — the gaps, overlaps, and misalignments between regulatory frameworks that allow STR platforms to operate in ways unintended by any single layer of government. Provides the analytical foundation for the Calgary project's regulatory design work.

Provides a comprehensive overview and analysis of STR regulatory frameworks in Banff, Jasper, Canmore, Calgary, Edmonton, and Wood Buffalo — assessing the stringency, appropriateness, and effectiveness of each approach in its local context. Funded by the Alberta Real Estate Foundation and Western Economic Diversification.

An overview of the full multi-year STR study — summarizing the three core research questions, the study timeline and phases, key research outcomes, and the engagement approach. Produced for public circulation during the engagement process.

Documents the findings from Phase 1 stakeholder and community engagement on Calgary's STR regulatory framework — capturing the range of perspectives from hosts, neighbours, renters, and industry stakeholders.

The verbatim record of stakeholder comments gathered during Phase 2 of the community engagement process — providing the unfiltered voice of Calgary residents and stakeholders on STR regulation.