Rent in Red Deer was cheaper than in Grande Prairie in March, but higher than in Lethbridge, according to a monthly national report.
March rental numbers, released by Rentals.ca in April, lists Red Deer as one of the less expensive cities to rent in Canada.
Red Deer ranked 26th out of the 30 Canadian cities noted in the report. The average rent for a one-bedroom in March in the city was $1,009, while a two-bedroom had a monthly price tag of $1,180.
According to the report’s month-to-month comparison, the one-bedroom rent dropped 1.1 per cent (when compared to February), while the two-bedroom price shot up by 3.6 per cent.
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According to the same assessment, the average monthly rent in December for a one-bedroom unit in Red Deer was down one per cent from the previous month, to $976.
The average December rent for a two-bedroom unit was up two per cent to $1,120. This placed Red Deer in the 20th spot, out of 25 municipalities listed in the national assessment, for December.
The report states rents in Alberta have increased in each of the past five months, with March’s $1,303 average increasing by nearly one per cent over February.
Also in Alberta, Calgary rents were down 1.7 per cent quarterly, but Fort McMurrary was up 1.7 per cent, and Edmonton was up 5.1 per cent.
“The pace of rental growth subsided on a national basis last month, but monthly readings can result in some volatility,” said Matt Danison, CEO of Rentals.ca.
“Data shows rents were up in most of the major provinces in Q1-2019, with Ontario up by 1.7 per cent quarterly, Alberta by 3.4 per cent, and B.C. by 8.7 per cent. Average rents declined by 3.5 per cent quarterly in Quebec.”
Fort McMurray ranked 12th on the report, followed by Calgary in the 13th spot. The average one-bedroom costing $1,305 and $1,288, respectively. Edmonton ranked 18th at $1,129 for a one-bedroom in March.
In the 25th spot was Grande Prarie at $1,026 for a one-bedroom in the same month. Lethbridge’s rent for a one-bedroom was $863, according to the report.
The top five most expensive rental cities in Canada, according to the report for March, were Toronto, Etobicoke, Ont., Vancouver, Mississauga, Ont., and Richmond Hill, Ont.
mamta.lulla@reddeeradvocate.com
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