By rdnewsNOW staff

reasonable rates

Red Deer rental rates remain among lowest in Canada

Sep 18, 2019 | 10:53 AM

Red Deer remains one of the least expensive Canadian cities for renters, according to the September National Rent Report produced by Rentals.ca and Bullpen Research & Consulting.

Red Deer ranks 26th of 30 cities for average monthly rent for a one-bedroom home at $1,033 and 27th for average monthly rent for a two-bedroom at $1,143.

The only city in Alberta on the list with lower rents is Lethbridge.

Even though August is one of the busiest months for moving in Canada, that didn’t result in an increase in rental rates month over month, according to the report, as the average rent for all property types on Rentals.ca declined by 0.7% to $1,914 per month.

This follows a decline of 1.3% in July. The median asking rent in August of $1,800 per month is also down from July ($1,825).

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Overall rental rates in Canada for all property types are up 8% from the end of 2018, which the report says could increase to a double-digit annual rent increase by the end of 2019.