Rental rates in Red Deer up slightly from end of 2020

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Year over year, Red Deer saw a 3.9 per cent increase on one-bedroom homes, and a 0.2 per cent increase on two-bedrooms.

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Red Deer is at the bottom of the report’s list of 22 cities evaluated for apartment and condo rent, with an average monthly rate of $990, down three per cent from January 2020. In Lethbridge, the monthly cost is $1,049, up four per cent, and in Fort McMurray, the rate is $1,192, down 12 per cent.

Grande Prairie and Lethbridge come in at 30 and 31 on the homes list. However, while Grande Prairie saw decreases of 6.8 and 7.4 per cent on homes year over year, Lethbridge is up 1.5 and 7.4 per cent for one and two-bedroom homes.

At 23rd is Calgary where a home with one bedroom comes in at $1,203, up 2.2 per cent month to month, and a two-bedroom is $1,468, down a tenth of a percentage point.

Edmonton is 27th at $1,023 for a one-bedroom, down 0.4 per cent month to month, and a two-bedroom costs $1,247, down 1.2 per cent.

Topping January’s update is Vancouver where a one-bedroom costs $1,901 monthly, up 1.0 per cent year over year, and a two-bedroom will run you $2,592, down 7.4 per cent year over year.

The average rent for all Canadian properties listed on Rentals.ca in January 2021 was $1,714 per month, down 8.7 per cent annually.