By Sheldon Spackman

Affordable accommodations

Red Deer continues to have some of Canada’s lowest rental rates

Sep 15, 2020 | 4:13 PM

Red Deer has once again been identified as having one of the most affordable rental rates in all of Canada.

On Tuesday, officials with Rentals.ca and Bullpen Research & Consulting released their latest National Rent Report with Red Deer placing 39^th on the list of 40 Canadian cities.

The average rent for a one bedroom residence in Red Deer in August was $832 – down 4.6 per cent from July and 19.5 per cent from the same month last year.

The average rent for a two bedroom place is $961 per month – down 6 per cent from July and 15.9 per cent from July, 2019.

Lloydminster had the lowest average rents in Canada last month after three straight months of Red Deer in that spot. The average rent for a one bedroom in Lloydminster in August was $741 per month, while the average two bedroom rented for $879.

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By comparison, the average rent for a one bedroom place in Lethbridge in August was $945 per month, while a two bedroom was $1,084 – placing it at 36 on the list.

Grande Prairie placed 32 on the list with an average rent of $1,008 per month for a one bedroom place, while a two bedroom runs about $1,181 per month.

In Alberta’s two largest cities, Edmonton is 31 on the list with an average rent of $1,027 per month for a one bedroom in August, while a two bedroom was $1,282. Calgary placed 29 on the list with an average rent of $1,183 for a one bedroom in August, while a two bedroom was $1,421.

Toronto reported the highest average rents in Canada last month, with a one bedroom apartment or condo costing roughly $2,013 per month, while a two bedroom was $2,655.

According to the report, Alberta, Saskatchewan and Manitoba have all experienced declines in average rent levels year over year, with Alberta down 6.6 per cent to $1,206, Saskatchewan down 9.5 per cent to $1,020, and Manitoba down 17.0 per cent to $1,240 per month.

The National Rent Report charts and analyzes monthly, quarterly and annual rates and trends in the rental market on a national, provincial, and municipal level across all listings on Rentals.ca for Canada.