Recent monthly statistics from rentals.ca show Airdrie is among the more affordable markets for rent in Canada’s top 60.
Airdrie ranks 48th, with the average price for a one-bedroom rental at $1,489 — up 1.3 per cent from last month but down 8.1 per cent year-over-year.
A two-bedroom unit now averages $1,795, which is slightly higher than last month but 12 per cent lower than the same time last year.
Nationally, the average asking rent for all residential properties dropped 2.7 per cent year-over-year in June to $2,125, marking nine straight months of annual rent decreases.
According to rentals.ca, average rents remain 11.9 per cent higher than three years ago and 4.1 per cent above levels from two years ago, highlighting ongoing inflationary pressure in the rental market.
“Rent decreases at the national level have been mild so far, with the biggest declines mainly seen in the largest and most expensive cities,” said Shaun Hildebrand, president of Urbanation. “However, it appears that the softening in rents has begun to spread throughout most parts of the country.”
By property type, the largest annual rent drops were in secondary market units, with condo rents down 4.9 per cent and house or townhome rents falling 6.6 per cent. Purpose-built rentals dipped only 1.1 per cent.
"Over the past three years, asking rents for purpose-built units were up 24.6 per cent, compared to a 1.6 per cent gain for condo rentals and a 0.2 per cent decline for house and townhome rentals."
By bedroom type, one- and two-bedroom units each fell 3.5 per cent annually in June, while studios and three-bedroom units saw smaller declines of 0.4 per cent.
"Over a longer horizon, studios led rent growth with a 19.3 per cent increase over three years, while three-bedroom purpose-built apartments rose 4.4 per cent year-over-year to an average of $2,755 — the strongest performing segment last month."
Alberta recorded the largest annual decline in apartment rents at 3.1 per cent.
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