Red Deer among affordable cities for renters, report shows

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.



mamta.lulla@reddeeradvocate.com

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