(rentals.ca)

By Josh Hall (Twitter: @Vancan19)

rentals.ca report

Red Deer still ranks low, but rent is increasing

Jul 17, 2021 | 10:30 AM

Of 35 major Canadian municipalities, as observed by Rentals.ca, and Bullpen Research and Consulting, Red Deer has the 33rd lowest rent.

The average rent for a one-bedroom home in Red Deer last month was $933. That’s up 5.8 per cent month-over-month, and up 7.2 per cent year-over-year.

A two-bedroom home averages out at $1,075 monthly, which is up 2.2 per cent month-over-month and up 11.6 per cent year over year.

Last month, Rentals.ca listed Red Deer at $881/month for a one-bedroom unit, and 1,052 for a two-bedroom.

The Rentals.ca report takes into account basement apartments, rental apartments, condominiums, townhouses, semi-detached houses and single-detached houses.

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According to the latest report, the average rent for all property types listed on Rentals.ca across Canada was $1,721 per month in June 2021. This represents a month-over-month increase of 0.7 per cent, while also representing an annual decrease of 2.7 per cent. The median rent in June 2021 was $1,649 per month, which represents a year-over-year decrease of 3.0 per cent.

In the number one spot remains Vancouver at $2,056 per month for a one-bedroom unit, and $2,765 for a two-bedroom.

Calgary comes in at 25th on the list with one and two-bedroom monthly rates of $1,239 and $1,537, both increases month-to-month and year-to-year.

Fort McMurray is in 28th at $1,065 and $1,287, Edmonton is 29th at $1,013 and $1,223, and Lethbridge is 31st with rates of $956 and $1,041.

Grande Prairie is in 35th on the list at $887 and 1,088, respectively. Lethbridge and Grande Prairie are the only Alberta communities to see significant decreases.

To read the full report, visit rentals.ca.

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