Red Deer rental rates continue to rise in May

Red Deer placed 29^th last month on a list of 35 Canadian cities included in the latest Rental Report published by rentals.ca.

According to the latest update, the average rent for a one-bedroom unit in Red Deer in May was $1,256 per month, up from $1,151 per month in April. That’s also up 24.7 per cent from the same month last year.

A two-bedroom unit, meanwhile, rented for an average of $1,463 per month, up from $1,334 per month in April and up 25.8 per cent in April 2022.

Elsewhere on the list, Calgary placed 27^th, with an average rent of $1,632 per month for a one-bedroom unit and $2,019 per month for a two-bedroom residence.