By rdnewsNOW staff

October numbers show...

Red Deer still among most affordable cities for renters in Alberta: Report

Nov 14, 2019 | 2:27 PM

The average monthly rent for Canadian properties in October was $1,940 per month, a decrease of 0.7% monthly, but an increase of 5.5% annually, according to the November National Rent Report from Rentals.ca and Bullpen Research & Consulting.

The median rental rate was $1,850 per month in October, up 8.9% from a year earlier ($1,700).

Red Deer finished 32nd of 36 cities for average monthly rent for a one-bedroom home at $966 and 33rd for average monthly rent for a two-bedroom at $1,107.

Year over year, average monthly rent for all property types for Red Deer rentals remained flat at $1,077 at the end of October. Growth was also flat year over year for average monthly rent for condominium and rental apartments only, up 0.3% to $1,056.

Red Deer finished sixth in rent for a one-bedroom home and for a two-bedroom of the seven Alberta cities on the list. The other six Alberta cities in order of price for a one-bedroom home are: Fort McMurray, Calgary, Fort Saskatchewan, Edmonton, Grande Prairie and Lethbridge.

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Toronto’s average monthly rent edged up slightly to $2,320 to remain the priciest city for renters for a one-bedroom home, while Vancouver had the highest rents for a two-bedroom at $2,949.

On a provincial level, Ontario had the highest rental rates in October, with landlords seeking $2,334 per month on average (all property types), unchanged month-over-month, but rising 9.1% annually from $2,139 in October of 2018.

The average rental rate in Alberta declined for the third consecutive month to $1,265, but is still up 2.2% over October of 2018 ($1,238).

(Media release)