Some Red Deer rents went up by as much as 5.5 per cent over the last year.
According to the Rentals.ca March 2022 Rent Report, the average monthly rent for a one bedroom suite in the city this month is $945 — an increase of 2.16 per cent from last year.
Two-bedroom suites rent in Red Deer for an average of $1,050 in March, which is a 5.53 per cent increase from this time last year.
Rents in the city are still lower than in Edmonton, Calgary and Lethbridge, but higher than in Grande Prairie and Lloydminister.
Red Deer rents are below the Canadian average for March, which is $1,473 for a one-bedroom suite (an increase of 4.87 per cent from 2021) and $1,855 for a two bedroom suite (a 6.02 per cent increase from last year).
Rentals.ca reports that the “high-water mark” for average rent nationally was $1,954 in August of 2019.