By Sheldon Spackman

National Rent Report

Red Deer rental rates on the rise

Apr 15, 2021 | 7:20 PM

Despite rising rental rates found throughout Red Deer last month, the city continues to have some of the most affordable rents in Canada.

According to the latest National Rent Report by Rentals.ca, Red Deer placed 31st on the list of 35 Canadian cities surveyed.

The report shows the average rent for a one-bedroom unit in Red Deer in March was $968, up 4.7 per cent from February, and up 2.3 per cent from March of last year.

A two-bedroom unit rented for an average of $1,072 last month, up 7.7 per cent from February and 2.2 per cent from March, 2020.

Elsewhere in Alberta, Calgary placed 25th on the list, with an average rent of $1,213 per month for a one-bedroom place in March, while a two-bedroom rented for an average of $1,471.

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Fort McMurray placed 28th on the list. The average rent for a one-bedroom unit there checked-in at 1,062 per month, while a two-bedroom unit averaged $1,242.

Edmonton, meanwhile, placed 29th on the list. The average rent for a one-bedroom unit in the capital came in at $998 per month in March, while a two-bedroom averaged $1,220.

Lethbridge came in right behind Red Deer, placing 32nd on the list. The average rent for a one-bedroom unit in the windy city last month was $956, while a two-bedroom unit averaged $1,095.

Grande Prairie placed 34th on the list with an average rent of $897 per month for a one-bedroom place in March, while a two-bedroom unit averaged $1,089.

Saskatoon placed 35th, averaging $877 per month for a one-bedroom unit last month, while a two-bedroom averaged $1,071.

Vancouver topped the list, however, with an average rent of $1,932 per month for a one-bedroom unit in March, while a two-bedroom averaged $2,598.