Fort McMurray renters spend a smaller share of household income on rent than renters in Edmonton, Calgary and most other Canadian markets, according to new data from SingleKey. The company’s 2026 rental report puts the region’s household rent-to-income ratio at 20.5 per cent, well below the national average of 28.1 per cent, and records some of the country’s highest renter incomes and full-time employment rates.

The findings appear in The Rent Cheque: 2026 Rental Intelligence Report, produced by SingleKey, a Canadian risk intelligence platform. It examines affordability and risk signals for the second quarter of 2026 using “hundreds of thousands” of rental applications processed through the platform and a range of data points.

SingleKey defines household income as the gross income earned by all people in a rented home. Its personal-income measure covers single household applicants and excludes applicants with a co-signer, because their rent is financially backed by another person.

The report puts Fort McMurray’s average household income at $131,676, ahead of Calgary’s $120,566 and Edmonton’s $112,565. Average personal income is $87,623, among the highest in secondary markets and above the figures for Edmonton, Lethbridge, Red Deer and Medicine Hat.

For comparison, the report says the average Canadian renter earns $72,900 in personal income and $113,900 in household income. Rent takes 28.1 per cent of earnings nationally, while rent and debt together account for 33.8 per cent.

The report also lists Fort McMurray’s personal rent-to-income ratio at 33.4 per cent, compared with a national average of 40.8 per cent. SingleKey chief executive officer Viler Lika told Postmedia the region’s household rent-to-income figure is “the lowest” he has seen.

Lika said rent-to-income is among the most important measures of affordability in a region. “If you’re in a low-income territory and you’re paying low rent, relative affordability is still not great. It’s about how much of your bills are left relative to your income,” he said.

Full-time employment is also unusually common among Fort McMurray renters. The report says 88.2 per cent of renters are employed full time, the highest share recorded in the country. It links the strong employment rate with a low rental application decline rate: 4.2 per cent in Fort McMurray, compared with 12.7 per cent in Edmonton and 30 per cent in Red Deer.

Edmonton’s figure is the lowest among Alberta’s other major markets, the report says. Fort McMurray’s lower rate indicates that most applicants are approved for the rentals they seek. High employment and comparatively high earnings may also give landlords and property owners more confidence in applicants’ ability to make monthly rent payments.

Long-time property manager Jessie Wyatt said changing rental prices could also help explain the low application decline rate. In her 13 years working in the sector, she has seen the market value of rentals fall steadily. The report says rents declined 1.1 per cent year over year, bringing the average monthly price to just over $1,700.

“I can remember, at one point, we were renting a two-bedroom apartment for $3,200 in Timberlea per month, now those same apartments might be $2,100 a month,” Wyatt said. She said renters who once could afford a one-bedroom apartment may now be able to rent a two-bedroom unit, while people who rented only the upper level of a house may be able to afford an entire house.

Wyatt said owners were more willing to accept lower rents after prices changed sharply, as a way to keep their properties. She added that rental prices are now “on a nice incline.” “We’re starting to see some hope. We’re starting to see some financial stability.”

Demand could increase as more oilsands companies require contract workers to live locally, potentially bringing additional residents to Fort McMurray and raising the need for rental units. The report and interviews also point to debt as a substantial pressure on renters, despite the region’s high incomes and employment.

When debt is included, Fort McMurray’s personal rent-to-income ratio rises to 58.0 per cent, according to the report. The increase of 37.5 per cent reduces the income left over for other expenses. Lika called the region a “unique market,” with high incomes alongside risks that include debt and bankruptcy.

Those risks include unpaid utility bills, telecommunications balances and other delinquent accounts, which can consume a significant share of personal income even when wages are high and employment is steady. The report says this strain is reflected in renters’ credit health: while national credit averages are around 700, Fort McMurray renters average about 660, or 40 points below that benchmark.

The region’s reported bankruptcy rate is 7.9 per cent, among the highest for any city. The figures complicate the picture of financial comfort suggested by the low rent share and strong employment. Renters may earn more and devote less of household income to rent, while still carrying significant debt and facing weaker credit outcomes.

Fort McMurray also has the lowest average number of adults per household among major markets, the report says. In many cities, affordability depends on several earners sharing a home, and unrelated adults living together has become common as a way to manage costs. The report describes Fort McMurray as having more independent renters and fewer roommates.

Wyatt suggested lifestyle spending could be one contributor to local debt. She described Fort McMurray as a “work hard, play hard town.” “We live in a town where people enjoy nice things, and they can provide those nice things for themselves. So with that comes debt,” she said.

“You want to go camping, and you want to take your kids out of their quads, their dirt bikes, and give them that outdoor life. I think that’s incredibly important to a lot of people here,” Wyatt said. Her comments point to the costs residents may take on to support recreation and family activities, even as local incomes remain high.

The report’s measures draw on rental applications submitted through SingleKey rather than a census of all residents or renters. Its findings describe application and affordability patterns for the second quarter of 2026, alongside the year-over-year rent change cited in the report. The company’s figures show a market where high earnings, employment and relatively low rents coexist with debt, lower credit scores and a high bankruptcy rate.

Based on reporting by Edmonton Journal.