A new report shows the average prices for apartment rentals in Canada. (Photo: Sparky2000 | Dreamstime.com)

By David Opinko

Rent in Lethbridge remains among most affordable in Canadian cities

Mar 11, 2024 | 10:49 AM

LETHBRIDGE, AB – A new report highlights how expensive it is to rent an apartment in Canadian cities, but that one southern Alberta community remains near the bottom of the list.

Rentals.ca and Urbanation have released the National Rent Report for March 2024.

It states that, nationally, one bedroom apartments rented for an average of $1,944 per month while those with two bedrooms went for $2,330 per month. Those prices rose by 13.33 per cent and 12.31 per cent respectively over the last year.

In Alberta, the averages were $1,531 monthly for a single bedroom (up 20 per cent annually) and $1,886 for two rooms (up 19 per cent annually).

Lethbridge, on the other hand, was far more affordable.

Nighttime construction on Hwy 3 in Lethbridge starts April 17

Apr 17, 2025

SASHA launches #BuyABed fundraiser to support vulnerable Lethbridge residents

Apr 04, 2025

$20K grants available: TELUS STORYHIVE Pan-Asian Edition opens applications April 1

Mar 18, 2025

Rental prices in the city, on average, were as follows:

• Studio: $1,060
  • M/M 1.4%
  • Y/Y 2.6%
• One Bedroom: $1,252
  • M/M 3.0%
  • Y/Y 4.0%
• Two Bedrooms: $1,464
  • M/M 4.0%
  • Y/Y 7.3%
• Three Bedrooms: $1,747
  • M/M -0.9%
  • Y/Y 10.5%

The report lists 35 communities from across the country from the most to least expensive. Calgary and Edmonton were the only cities in Alberta to be included in the March list.

Calgary was the 26th most expensive with one bedroom units renting for $1,711 per month (up 9.7 per cent year-over-year) and two bedroom apartments being priced at $2,073 per month (up eight per cent year-over year).

Edmonton was the 32nd most expensive and the fourth cheapest overall. One bedroom units went for an average of $1,312 per month (up 19.3 per cent year-over-year) while two bedroom units went for $1,639 monthly (up 15.7 per cent year-over-year).

Average home rental prices by province for March 2024. (Photo: Urbanation and Rentals.ca)

Vancouver was once again the most expensive city in the country for rent. To rent a single bedroom apartment, it cost an average of $2,653 per month. You can get a two bedroom unit in Vancouver for $3,541.

The full National Rent Report can be found online at Rentals.ca

READ MORE: Lethbridge News Now

—

If you have a news tip, question or concern, please email Lethbridge.newsroom@Pattisonmedia.com.

For local news delivered daily to your email inbox, subscribe for free to the Lethbridge News Now newsletter here. You can also download the Lethbridge News Now mobile app in the Google Play and the Apple App Stores.