By Sheldon Spackman

More Affordable

Red Deer sees lowest rental rates in country for second straight month

Jul 20, 2020 | 12:54 PM

For the second straight month, Red Deer has reported the most affordable rental rates in the country on a list of 33 cities across Canada.

According to the latest National Rent Report published by Rentals.ca and Bullpen Research & Consulting, Red Deer placed 33rd on the list with an average monthly rent for a one-bedroom apartment in June at $870 a month, down 2.5 per cent from May and 17.6 per cent from June of last year.

Two-bedroom apartments rented for an average of $963 a month, up 3.5 per cent from May, but down 17.7 per cent from June, 2019.

Officials with Rentals.ca say the COVID-19 pandemic continues to put downward pressure on the rental market nationally, with the average rent for all Canadian properties listed on Rentals.ca in June at $1,770 per month, down 2.4 per cent monthly and 9.4 per cent annually.

The median rental rate was $1,700 per month in June, down $50 from May 2020 and $125 from June 2019 (-6.8 per cent).

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By comparison, the City of Lethbridge placed 30 on the list, with an average rent for a one-bedroom unit at $954 a month, up 1.3 per cent from May, and up 3.1 per cent from June of last year. Two bedroom units in Lethbridge rented for an average of $1,149 last month, up 14.1 per cent from May, and 4.7 per cent from June, 2019.

In Alberta’s two largest cities, Edmonton placed 26 on the list, while Calgary placed 24.

The average rent for a one-bedroom apartment in Edmonton last month was $1,045, compared to $1,164 in Calgary.

For two-bedroom apartments, Edmonton’s average rental rate was $1,288 last month, compared to $1,403 in Calgary.

Toronto topped the list, with an average rental rate of $2,063 per month in June, while a two-bedroom apartment or condo rented for an average of $2,684 per month.