ID 108414889 © Feverpitched | Dreamstime.com

By Ashley Lavallee-Koenig

$1,420 AVERAGE

Red Deer still ranked in ten most affordable Canadian markets as March rental rates increase

Apr 10, 2025 | 10:28 AM

Outside of the country’s six largest markets, Red Deer was the sixth most affordable city to rent in Canada in March, with an average asking rent price of $1,420 for purpose-built and condo rentals.

According to the latest National Rent Report from rentals.ca and Urbanation, asking rates for one bedroom units rose 2.9 per cent compared to February’s rates, an 11.8 per cent increase year over year, to an average of $1,314. Two bedroom units saw a 5.2 per cent increase from last month, to $1,558, a 4.2 per cent increase from the same time in 2024.

Calgary’s average asking rent for a one bedroom unit was $1,588 in March, and $1,928 for two bedrooms.

Airdrie’s average was just below that at $1,466 for one bedroom and $1,799 for two.

Lethbridge came in just above Red Deer, with one bedroom rentals going for $1,365 and two bedrooms for $1,569.

Dec. 10

RDP holds pinning ceremony for graduating nursing students

7h ago

get in the car!

Maps for 2025 Red Deer Christmas Lights tour

9h ago

predictable taxation

Chamber calls Red Deer County's draft budget 'disciplined'

9h ago

In Edmonton, rental rates were comparable to Red Deer, at $1,310 for one bedroom and $1,656 for two.

For Medicine Hat, a one bedroom was going for $1,195 and a two bedroom for $1,395 in March.

Lloydminster was the most affordable Alberta market of the 60 listed from across Canada, offering one bedroom rentals for $1,039 and two bedroom rentals for $1,251.

Provincially, Alberta’s one bedroom unit rates dropped by 1.4 per cent year over year, down to an average of $1,527 per month, while the rate for two bedrooms fell 1.7 per cent, to $1,878.

These rates put both Red Deer and Alberta below the national average asking rent price of $2,101 for March; Alberta’s overall average price was $1,721.