The average Red Deer monthly rent is $10 below Edmonton’s and $1 above Grande Prairie’s, a report shows.
Red Deer remains among the more affordable cities in Canada, finishing 27th out of 34 municipalities for the average monthly rent for a one-bedroom unit at $1,049, according to the October national rent report by Rentals.ca and Bullpen Research and Consulting.
Red Deer finished 31st for the average monthly rent for a two-bedroom unit at $1,182.
Red Deer – one of six Alberta cities on the list – came close to Edmonton and Grande Praire, while Fort McMurray and Calgary came in 19th and 20th for the average monthly rent for a one-bedroom unit, at $1,251 and $1,221 respectively.
Lethbridge finished 31st, with an average monthly rent for a one-bedroom of $917.
The average Canadian property was rented for $1,954 per month in September, an increase of 2.1 per cent compared to August.
The national rental rate in September just topped the previous high-water mark for the year of $1,953 in June, according to Rentals.ca data.
Overall, median rent for all property types rose in Red Deer from $1,049 in the fourth quarter of 2018 to $1,099 in the third quarter of this year.