(Dreamstime)

By Sheldon Spackman

Up 8.8% Last Month

Red Deer rental rates continue to rise

Mar 15, 2023 | 10:49 AM

Average rental rates in Red Deer climbed higher once again last month.

According to the latest National Rent Report from rentals.ca, the average rent for a one bedroom unit in Red Deer in February was $1,162 per month, up 8.8 per cent from January and 19.1 per cent from February 2022. That places Red Deer 31^st on the list of 35 Canadian cities included in the report.

Meanwhile, the average rent for a two-bedroom unit in Red Deer last month was $1,286, up 1.8 per cent from January and 21.1 per cent from February 2022.

Other Alberta cities mentioned in the report include Calgary which placed 26^th on the list with an average rent of $1,560 per month for a one-bedroom unit and $1,920 per month for a two-bedroom rental.

Lethbridge placed 30^th on the list with an average rent of $1,204 per month for a one-bedroom unit and $1,365 per month for a two-bedroom place.

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Edmonton placed 32^nd on the list with an average rent of $1,099 per month for a one-bedroom unit and $1,417 per month for a two-bedroom.

Grande Prairie rounded out the list at 35^th with an average rent of $966 per month for a one-bedroom unit and $1,186 for a two-bedroom rental.

Vancouver topped the list with an average rent of $2,640 per month for a one-bedroom unit and $3,632 per month for a two-bedroom place.