Average rent in Red Deer down slightly in April

May 7, 2026 | 2:13 PM

Average rent in Red Deer decreased slightly in April, following an increase in March that made it more expensive to rent in the community than in Edmonton.

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

Only Saskatoon, Lethbridge, Quebec City, Regina, Medicine Hat, Fort McMurray, Lloydminster, and St. John’s were cheaper. Meanwhile, Edmonton was once again more expensive than Red Deer after it was ranked 51st.

For a one-bedroom unit in Red Deer, it costs $1,340 per month, down 1.7 per cent month to month and up 7.6 per cent year over year. In March it costed $1,362 per month for a one-bedroom unit.

Furthermore, for a two-bedroom unit, it costs on average $1,523 per month, down 2.6 per cent month to month and 0.7 per cent from April 2025.

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Red Deer was also the fifth cheapest market in terms of asking rent for purpose-built and condo rental apartments. Red Deer was among the top 25 in the lowest average asking price at $1,421 per month.

Meanwhile, provincially, average rent has dropped in Alberta by 3.2 per cent year over year to $1,757 per month.

The average asking rent for all residential properties in Canada declined 4.7 per cent year-over-year in April to $2,027, marking the 19th consecutive month of annual rent decreases.

“Rents in Canada are basically back to their level from three years ago,” said Shaun Hildebrand, President of Urbanation, in a media release. “This improvement in affordability should help bring renters into the market who were priced out in recent years.”

Average rents were down approximately $100 from a year ago and 7.4 per cent lower than two years earlier, while remaining 1.2 per cent higher than three years ago.

The full report can be viewed by clicking here.

by Ian Gustafson

Average rent in Red Deer down slightly in April

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