Apartments for rent sign. (Lethbridge News Now)

By David Opinko

Average rental price in Lethbridge fell slightly in 2019

Jan 30, 2020 | 12:10 PM

LETHBRIDGE, AB – It depends on what type of property you are renting, but a new report from Rentals.ca and Bullpen Research & Consulting shows a slight drop in rental prices in the city.

For all types of rental homes in the fourth quarter of 2018, they claim that the average cost of rent in Lethbridge was $1,046 per month. At the same time in 2019, that fell to $1,009.

This marks a decrease of approximately 3.5%.

Year-over-year, the price for one-bedroom units rose by 7% to $927, while two-bedroom rentals fell by 3% to $1,022.

Out of 30 communities across Canada, this makes Lethbridge the third most affordable when it comes to rent and the cheapest of seven Albertan cities that were analyzed.

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Banff was the most expensive place in Alberta with an average monthly rental price if $1,542. From there, the second-most pricey in the province is Calgary at $1,388, Fort McMurray at $1,283, Edmonton was fourth at $1,186, Grand Prairie cost $1,129, and Red Deer was the sixth most expensive at $1,078.

Provincially, the average cost of rent was $1,232 per month, which mostly consists of apartments.

Perhaps unsurprisingly, Toronto was the least affordable community in all of Canada with a one-bedroom unit going for an average of $2,299 each month while a typical two-bedroom listed for $2,914.

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