Red Deer ranked eighth among top Canadian markets in average rent

Sep 9, 2026 | 9:52 AM

Red Deer remains one of the most affordable Canadian markets to rent in, despite an uptick in average asking rent in August.

According to the National Rent Report by Rentals.ca and Urbanation, Red Deer was ranked 53rd out of 60 Canadian markets for average rent by city and unit type in August. Red Deer was ranked 52nd in July and 55th in June.

Average rent in August in Red Deer was $1,573 per month, an increase from the $1,536 per month reported in July.

A one-bedroom unit in Red Deer cost $1,345 per month in August compared to the $1,239 reported in July. In June, it cost $1,337 per month for a one-bedroom unit.

In addition, for a two-bedroom unit, it costs an average of $1,515 per month in August compared to $1,509 per month in July. In June, it cost 1,499 per month for a two-bedroom unit.

uptick in average rent

Red Deer ranked eighth among top Canadian markets in average rent

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Red Deer was also among the top seven with the lowest average asking rent for purpose-built and condo rental apartments in August. Fort McMurray led the way at $1,277 per month, followed by Lloyminster at $1,330, Medicine Hat at $1,345, Saskatoon at $1,393, Regina at $1,414, Grande Prairie at $1,422 and Red Deer at $1,455.

Provincially, Alberta had the third-cheapest rent among Canadian provinces at $1,776 per month for all property types. Alberta saw a 3.6 per cent drop in rent year over year. Only Manitoba ($1,643) and Saskatchewan ($1,461) were cheaper per month.

In Canada, the average asking rent for all residential properties was $2,035 in August, down 4.8 per cent year-over-year, marking the 23rd consecutive month of annual rent decreases

The full report can be viewed on rentals.ca.

by Ian Gustafson

Red Deer ranked eighth among top Canadian markets in average rent

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