Red Deer remains one of the least expensive cities for renters.
That’s according to results from the September National Rent Report produced by Rentals.ca and Bullpen Research and Consulting.
The average rental rates declined in Canada for the second month in a row, after two straight months of increases, according to the report.
Red Deer sits in the 26th spot out of the 30 cities listed, with the average monthly rent for a one-bedroom unit at $1,033. It is 27th for the average monthly rent for a two-bedroom unit at $1,143.
The only city in Alberta with lower rents is Lethbridge, in the 28th spot, with a one bedroom average at $917 and a two bedroom at $1,014.
Calgary was ranked 17th, with the average rent for a one bedroom at $1,242 and a two bedroom at $1,479.
In the 23rd spot is Grande Prairie, at an average of $1,070 for a one bedroom and $1,268 for a two bedroom.
Sitting in the 24th spot is Edmonton, with an average one bedroom rent price of $1,055 and $1,311 for a two bedroom.
Even though August is one of the busiest months for moving in Canada, that didn’t result in an increase in rental rates month over month, as the average rent for all property types on Rentals.ca declined by 0.7 per cent to $1,914 per month.
This follows a decline of 1.3 per cent in July. The median asking rent in August of $1,800 per month is also down from July at $1,825.
But overall, rental rates in Canada for all property types are up eight per cent from the end of 2018.
mamta.lulla@reddeeradvocate.com
Like us on Facebook and follow us on Twitter