Red Deer average asking rent drops to $1,555 in October

Nov 5, 2026 | 10:49 AM

Red Deer saw a decrease in average asking rent in October, according to the National Rent Report by Rentals.ca and Urbanation.

Red Deer was ranked 54th among 60 Canadian markets for average rent by city and unit type in October. Red Deer was ranked 52nd in September and 53rd in August.

Average rent in Red Deer in October was $1,555 per month, down from $1,614 per month in September.

A one-bedroom unit in Red Deer cost $1,298 per month in October, compared to the $1,338 reported in September. This marked a 3.0 per cent decrease month over month and a 1.9 per cent increase year over year. In August, it cost $1,345 per month for a one-bedroom unit.

In addition, for a two-bedroom unit, it costs an average of $1,504 per month in October compared to $1,503 per month in September. This marked a 0.1 per cent increase month over month and a 5.6 per cent increase year over year. In August, a two-bedroom unit cost $1,515 per month.

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Red Deer was also among the top six cities with the lowest average asking rent for purpose-built and condo rental apartments in October. Fort McMurray led the way at $1,290 per month, followed by Medicine Hat at $1,306, Lloydminster at $1,319, Saskatoon at $1,392, Regina at $1,401, and Red Deer at $1,413.

Provincially, Alberta had the third-cheapest rent among Canadian provinces at $1,770 per month for all property types. Alberta saw a 1.4 per cent year-over-year drop in rent. Only Manitoba ($1,648) and Saskatchewan ($1,478) were cheaper per month.

In Canada, the average asking rent for all residential properties in Canada was $2,036 in October, down 3.2 per cent year-over-year, marking the 25th consecutive month of annual rent decreases.

The full report is available on the rentals.ca website.

by Ian Gustafson

Red Deer average asking rent drops to $1,555 in October

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