Red Carpet is located in the south-east region of Calgary between 17 Avenue SE, CN Tracks, and 68 Street SE. To the immediate south of this community are Elliston Park and Elliston Lake which is the site for GlobalFest fireworks.

According to the 2012 municipal census, it has a population of 1,555 which is an increase of -4.6% from 2011 population of 1,630.

Red Carpet’s 2000 data states that 27.5% of the buildings were condominiums, 72.5% were mobile home and housing used for rent is 28.9%. It is one of the city’s oldest communities with having houses averagely priced at $131,411.54. The highest price and lowest price are $239,900 and $24,000 respectively.

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