Red Deer rental prices continued to rise in June.
According to the rentals.ca national rent report for June, rent for a one-bedroom in Red Deer was up 12.8 per cent year over year and 10.1 per cent for a two-bedroom unit.
Red Deer still finished 33rd on the list of 35 Canadian cities for average monthly rent in June for a one-bedroom home at $1,052 and for average monthly rents for a two-bedroom at $1,183.
Calgary finished 22nd on the list for average monthly rent in June for a one-bedroom home at $1,562 and 24th for average monthly rents for a two-bedroom at $1,925.
Year over year, average monthly rent in June for a one-bedroom in Calgary was up 25.8 per cent and up 24.8 per cent for a two-bedroom.
Calgary’s average monthly rent for condo rentals and apartments in June was $1,752, a jump of 26.1 per cent over the average rents of June 2021 at $1,389. The June 2021 figure was up 8.9 per cent over June 2020’s $1,276, and the June 2020 average rent was down 11.3 from the previous year.
Edmonton came in just behind Red Deer on the list for average monthly rent in June for a one-bedroom home at $1,032 and 32nd for average monthly rents for a two-bedroom at $1,293.
Year over year, average monthly rent in June for a one-bedroom in Edmonton was up 1.2 per cent and up 4.8 per cent for a two-bedroom.
Across the province, average monthly rent in June was $1,302, not too far off what it was in June 2019 at $1,308. Between June 2019 and last month, average rents dropped to $1,220 in June 2020 and $1,216 in June 2021.
Across Canada, average rent for all Canadian property types on Rentals.ca was $1,885, an increase of 9.5 per cent year over year in June, according to the rent report.
But June’s average rent is still 3.5 per cent lower than the pre-pandemic level of June 2019 at $1,953.
According to a release from Rentals.ca, “rising interest rates, persistent inflation, supply chain issues, record high immigration levels and employers’ decisions about requiring in-office work are continuing to affect the rental market across Canada”.