Average rental prices up year over year in Lethbridge

Vancouver was listed as the most expensive city to rent in across the country. A one-bedroom unit, on average, was listed at $2,633 while two-bedroom units rented for $3,598.

President of Urbanation, Shaun Hildebrand said, “Rents in Canada are rising at an exceptionally high speed, which is having a profound effect on housing affordability as interest rates continue to rise.”

Hildebrand added, “With the most expensive cities experiencing very low supply and the fastest rates of rent increase, regions with high population growth are seeing demand shift into more affordable areas.”

The average rent in Alberta increased 15% year over year to $1,449 for purpose-built and condominium rentals in November.

Below is how each community in Alberta listed on the report fared for rental rates in November:

Calgary (25 out of 35):
- One-bedroom: $1,473 (up 1.7% month over month, up 18.7% year over year)
- Two-bedroom: $1,860 (up 5.0% month over month, up 21.4% year over year)
Lethbridge (27):
- One-bedroom: $1,208 (up 20.4% year over year, month over month data not available)
- Two-bedroom: $1,409 (up 19.4% year over year, month over month data not available)
Edmonton (30):
- One-bedroom: $1,110 (up 1.4% month over month, up 6.3% year over year)
- Two-bedroom: $1,424 (up 0.7% month over month, up 11.2% year over year)
Red Deer (33):
- One-bedroom: $1,029 (up 1.1% month over month, up 13.8% year over year)
- Two-bedroom: $1,228 (down 0.4% month over month, up 12.4% year over year)
Grande Prairie (34):
- One-bedroom: $985 (up 1.8% month over month, up 16.5% year over year)
- Two-bedroom: $1,146 (down 2.3% month over month, up 4.1% year over year)
Lloydminster (35):
- One-bedroom: $835 (up 6.0% month over month, up 12.3% year over year)
- Two-bedroom: $1,011 (up 7.2% month over month, up 18.8% year over year)

Read more Lethbridge News Now.

by Justin Goulet

Average rental prices up year over year in Lethbridge

What's Happening