The latest National Rent Report has been released. (Photo 11245572 © Dora Paris | Dreamstime.com)

By Justin Goulet

Rental rates up slightly in Lethbridge in May

Jun 14, 2023 | 11:16 AM

LETHBRIDGE, AB – The average annual rental rates for condominiums and apartments in Lethbridge are up slightly. That’s according to the latest National Rent Report from Rentals.ca and Urbanation.

In May 2023, the average monthly rent for a one-bedroom residence in Lethbridge was $1,162. The average for a two-bedroom unit was $1,349. Year over year, the average monthly rent last month in Lethbridge was up 10.2 per cent and up 10.4 per cent for a two-bedroom.

Lethbridge placed at number 32 for average rental prices, out of 35 communities listed in Canada.

Here is how the other municipalities in Alberta fared:

• Calgary (27 out of 35)
  • Average monthly rent for a one-bedroom unit was $1,632
    • Up 1.6 per cent month over month, up 13.5 per cent year over year
  • Average monthly rent for a two-bedroom unit was $2,019
    • Up 0.4 per cent month over month, up 14.5 per cent year over year
• Red Deer (29 out of 35)
  • One-bedroom: $1,256
    • Up 24.7 per cent year over year (month over month statistic not available)
  • Two-bedroom: $1,463
    • Up 25.8 per cent year over year (month over month statistic not available)
• Edmonton (31 out of 35)
  • One-bedroom: $1,176
    • Up 1.1 per cent month over month, up 11.3 per cent year over year
  • Two-bedroom: $1,500
    • Up 0.8 per cent month over month, up 13.1 per cent year over year
• Lethbridge (32 out of 35)
  • One-bedroom: $1,162
    • Down 1.3 per cent month over month, up 10.2 per cent year over year
  • Two-bedroom: $1,349
    • Up 1.1 per cent month over month, up 10.4 per cent year over year
• Grande Prairie (35 out of 35)
  • One-bedroom: $1,023
    • Up 1.2 per cent month over month, up 7.8 per cent year over year
  • Two-bedroom: $1,226
    • Up 3.6 per cent month over month, up 15.1 per cent year over year

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Vancouver, British Columbia was the most expensive city to rent in. The average monthly rent for a one-bedroom unit was $2,831 in May, while a two-bedroom unit rented for $3,666 a month, on average.

READ MORE: Lethbridge News Now.

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