Average rent is up in Red Deer, despite national and provincial declines

Apr 9, 2026 | 10:31 AM

On average, it now costs more to rent in Red Deer than in Edmonton.

According to the National Rent Report by Rentals.ca and Urbanation, Red Deer was ranked 51 out of 60 Canadian markets for average rent by city and unit type in March. In the meantime, Edmonton ranked 52.

For a one-bedroom unit in Red Deer, it costs $1,362 per month, up 6.2 per cent month to month and 3.7 per cent year over year.

Furthermore, for a two-bedroom unit, it costs on average $1,565 per month, up 3.5 per cent month to month and 0.4 per cent from March 2025.

Provincially, Alberta was among four provinces that saw a decline in average rent for all unit types at 4.4 per cent. Ontario had the sharpest decline at 5.4 per cent followed by British Columbia at 5.1 per cent. Quebec also fell 2.1 per cent.

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In Canada, the average asking rent price fell for the 18th consecutive month, dropping to $2,008, which they say is the lowest in three years.

“The Canadian rental market downturn has deepened, with rents in March falling at their fastest pace since COVID,” said Shaun Hildebrand, President of Urbanation, in a media release. “This shows in real-time the market impact from the declining population, coupled with ongoing affordability issues, heightened economic uncertainty, and record high apartment completions.”

(Image Credit: National Rent Report/screenshot)

by Ian Gustafson

Average rent is up in Red Deer, despite national and provincial declines

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