(rdnewsNOW file photo)

By Jordan Davidson

$901 for a one-bedroom

Red Deer rent rising, but still low compared to national average

Aug 16, 2021 | 3:27 PM

Of the 35 major Canadian municipalities observed by Rentals.ca, and Bullpen Research and Consulting, Red Deer has the 33^rd lowest rent for the second month in a row.

The average rent for a one-bedroom home in Red Deer for the month of July was $901. That’s down 3.4 per cent month-over-month, and up 3.3 per cent year-over-year.

A two-bedroom home averages out at $1,052, which is down 2.1 per cent month-over-month, but up 2.9 per cent year-over-year.

Last month, Rentals.ca listed Red Deer at $933/month for a one-bedroom unit, $1,075 for a two-bedroom.

The Rentals.ca report takes into account basement apartments, rental apartments, condominiums, townhouses, semi-detached houses and single-detached houses.

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According to their latest report, the average rent for all Canadian properties listed on their site in July 2021 was $1,752 per month, down 1.1 per cent annuals, and up 1.8 per cent monthly.

Although the average rental rate increased for the third consecutive month, it is still $200 cheaper than the market peak in September of 2019.

The median rental rate was $1,649 per month in July, which was unchanged month over month, but down 3 per cent from $1,700 a year earlier.

Still in the number one spot is Vancouver, with an average rental rate for a one-bedroom place at $2,185, and $3,041 for a two-bedroom.

Other Alberta communities ranked as follows:

22nd – Calgary

26th – Fort McMurray

27th – Edmonton

28th – Lethbridge

30th – Grande Prairie

35th – Lloydminster