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By Ian Gustafson

January rent report

Average rent falls in Red Deer and across Canada

Feb 9, 2026 | 10:12 AM

Average rent costs decreased slightly in Red Deer from December to January.

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 January, which was unchanged from December.

However, the total average rent in Red Deer went from $1,549 per month in December to $1,529 per month in January.

In addition, a one-bedroom unit costs $1,219 per month, which was a 3.6 per cent decrease month-over-month and a 2.4 per cent decrease year-over-year. A two-bedroom unit costs $1,489 per month, up 0.6 per cent month-over-month and 5.9 per cent year-over-year.

To compare, Edmonton was ranked 51st with an average monthly rent of $1,591, and Calgary was ranked 43rd at $1,871 per month.

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The report also indicated that asking rent prices dropped in Canada for the 16th straight month, reaching an average asking price of $2,057 for all residential properties.

Rent in Canada fell to its lowest level in 31 months but also remained 12.9 per cent higher than pre-pandemic levels in January 2020.

“There has been a meaningful improvement in affordability for renters in Canada, proving that more supply brings down costs,” said Shaun Hildebrand, President of Urbanation, in a media release. “This should help draw more renters into the market this year, even as the population slows.”

The full report can be found here.