Red Deer remains one of the most affordable cities to rent in Canada, according to the latest National Rent Report from Rentals.ca and Urbanation.
In March, the average rent for a one-bedroom unit in Red Deer rose to $1,314, marking a 2.9% increase from February and an 11.8% rise compared to the same time last year. Two-bedroom units in Red Deer saw a 5.2% increase from February, with an average rent of $1,558, up 4.2% year over year.
By comparison, rental rates in Alberta’s largest cities were higher. In Calgary, the average rent for a one-bedroom unit was $1,588, and $1,928 for a two-bedroom. In Edmonton, rents were lower, with one-bedroom units averaging $1,310 and two-bedroom units $1,656.
Across the province, Alberta's average rents declined slightly. The average rent for a one-bedroom unit dropped 1.4% year over year, to $1,527. Two-bedroom units saw a 1.7% decrease, averaging $1,878.
Despite recent increases in Red Deer, both the city and Alberta remain below the national average for rental rates.
Sign up to get the latest local news headlines delivered directly to your inbox every afternoon.
Send your news tips, story ideas, pictures, and videos to news@centralalbertaonline.com.
CentralAlbertaOnline encourages you to get your news directly from your trusted source by bookmarking this page and downloading the CentralAlbertaOnline app.