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By Ian Gustafson

National Rent Report

Red Deer’s average rent prices in December among the lowest in Canada

Jan 12, 2026 | 3:31 PM

Red Deer continues to be one of the cheapest places to rent in the country.

According to the National Rent Report by Rentals.ca and Urbanation, Red Deer was ranked 55 out of 60 Canadian markets for average rent by city and unit type in December.

On average, it’ll cost $1,549 per month to rent in Red Deer, which is the sixth cheapest in Canada, followed by Regina, Fort McMurray, Medicine Hat, Lloydminster, and St. John’s.

A one-bedroom unit in Red Deer costs $1,265 per month, which is a two per cent increase month-over-month and a 0.5 per cent increase year-over-year. Meantime, a two-bedroom unit $1,480 per month, a 2.3 per cent increase month-over-month and a 0.5 per cent decrease year-over-year.

To compare, Edmonton was ranked 51st with an average monthly rent of $1,615, and Calgary was ranked 43rd at $1,875 per month.

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The top five most expensive were North Vancouver ($2,974), Vancouver ($2,664), Oakville ($2,545), Toronto ($2,503), and North York ($2,501).

According to the report, the average asking rent for all residential properties in Canada declined 2.3 per cent year-over-year last month to $2,060, marking the 15th consecutive month of annual rent decreases. In addition, rents fell to their lowest level in 30 months, down 5.4 per cent compared to two years ago.

Provincially, Alberta had the third-cheapest rent in December at $1,763, trailing Manitoba at $1,657 and Saskatchewan at $1,500.