Courtesy photo

Average rent in Red Deer increased in March and over past year

Rent in Red Deer keeps rising.

Since 2019, the average monthly rent in Canada has steadily declined, but that isn’t the case in Red Deer. That’s according to the National Rent Report from Rentals.ca.

Year over year, average monthly rents were up 2.3 per cent for a one-bedroom and 2.2 per cent for a two-bedroom.

Red Deer also came in 31st on a list of 35 cities across Canada for average monthly rent in March for a one-bedroom home at $968 and 34th for a two-bedroom at $1,072.

Month over month, average monthly rents in Red Deer in March rose 4.7 per cent for a one-bedroom and 7.7 per cent for a two-bedroom.

“There are fewer large units and single-family homes for rent, and many more tiny condominium suites, as tenants look for larger units to work from home,” said Matt Danison, CEO of Rentals.ca in a news release.

Year over year, Calgary and Red Deer had slight increases in average monthly rent in March for condominium rentals and and apartments, while average monthly rent for this category declined annually in Edmonton, Lethbridge, Grande Prairie and Fort McMurray.

Average monthly rent was up in Lethbridge since March 2019 for condo rentals and apartments, but down in Calgary, Edmonton, Red Deer, Grande Prairie and Fort McMurray.

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