Rental prices saw sizable growth in Lethbridge over the last year

Mar 24, 2020 | 10:35 AM

LETHBRIDGE, AB – It may not come as a surprise to many who are renting their home in Lethbridge, but prices have gone up over the last 12 months.

According to the latest National Rent Report from Rentals.ca and Bullpen Research & Consulting, a typical one-bedroom unit in the city went for an average of $947 per month in March.

This marks an increase of 2.4% from February 2020 and 11.6% from March 2019. Out of the 38 cities that were analyzed across the country, the average year-over-year growth was 5.9%.

For homes with two bedrooms, those now go for $1,079. Listings jumped in price by 5.1% from February 2020 and 5.3% from March 2019.

At the same time, Lethbridge was still ranked as the third least expensive place to rent in Canada and the most affordable in Alberta.

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For all types of residential rental properties in Alberta, they typically went for $1,242 per month.

Rental prices in Albertan communities, from most expensive to least, are as follows:

Calgary (24 nationally): $1,216 for one bedroom, $1,459 for two bedrooms
Fort McMurray (27): $1,153 for one bedroom, $1,247 for two bedrooms
Edmonton (31): $1,058 for one bedroom, $1,294 for two bedrooms
Grande Prairie (32): $1,020 for one bedroom, $1,201 for two bedrooms
Red Deer (34): $959 for one bedroom, $1,038 for two bedrooms
Lethbridge (36): $947 for one bedroom, $1,079 for two bedrooms

Toronto was, once again, the most expensive city in the country to rent. An average one bedroom unit listed for $2,240 per month while two bedrooms went for $2,910.

The full report can be accessed here.

by David Opinko