Renting an apartment in Red Deer became slightly cheaper last month.
Rentals.ca released its Rent Report for January recently, which features rental prices for 35 cities in Canada for the month of December.
The average rental cost for a one-bedroom apartment in Red Deer this past December was $930, which is 2.4 per cent lower than November and 3.8 per cent lower than December 2019. This number was the sixth lowest among the cities surveyed.
The average rental cost of a two-bedroom apartment in Red Deer was $1,000, which was the second-cheapest among all cities surveyed. This is 1.8 per cent lower than November and 2.7 per cent lower than December 2019.
Out of all 35 cities, Lloydminster had the lowest average rental costs for one-bedroom apartments ($742) and two-bedroom apartments ($896).
Vancouver had the highest average rental prices – $1,855 for a one-bedroom apartment and $2,635 for a two-bedroom apartment. Toronto, Mississauga, Etobicoke and Richmond rounded out the top five for most expensive one-bedroom apartment rentals.
Calgary was the most expensive place to rent an apartment in Alberta, according to the report – $1,178 for a one-bedroom and $1,470 for a two-bedroom. In Edmonton, the average rental cost for one-bedroom apartments was $1,027 and $1,262 for two bed-room apartments.
Nationally, the average cost for a one-bedroom apartment was $1,358, while the average cost for a two-bedroom apartment was $1,703.