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By Josh Hall

"rare opportunity for renters"

Rent in Red Deer up, despite Alberta topping provincial declines

Mar 9, 2026 | 4:57 PM

Rent prices in Red Deer don’t match what a large part of Alberta experienced last month.

According to the latest rent report from Urbanation, Alberta saw the steepest decline in average asks for the cost of apartment rentals in the month of February.

The decline was 4.4 per cent.

But it’s a different story in Red Deer, which ranks 52nd on the list of 60 municipalities.

In Red Deer, rent for a one-bedroom apartment was up 5.2 per cent month-to-month, at $1,282. That’s also up 0.4 per cent from a year ago.

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For a two-bedroom, the price is $1,511, up 1.5 per cent from January, and up 2.1 per cent from February 2025.

The latest report also shows the average asking rents in Canada were down for a 17th straight month to just over $2,000.

Average rent was up in Saskatchewan and Manitoba.

“Canada is undergoing its largest downturn in rents in recent history,” said Shaun Hildebrand, President of Urbanation. “The supply that everyone has been waiting so long for has arrived at a time when demand has slowed, creating a rare opportunity for renters to take advantage of better affordability.”

The full rent report for February 2026 can be read here.