The annual rise in rental prices in Alberta is more than 10%. (Photo: Sparky2000 | Dreamstime.com)

By David Opinko

Lethbridge rents rising faster than national average

Oct 9, 2024 | 1:55 PM

LETHBRIDGE, AB – While the growth in home rental prices is slowing down across much of the country, that is not the case in Lethbridge.

Rentals.ca and Urbanation have released their National Rent Report for September 2024.

They say the average cost to rent a residential property in Canada was $2,193 per month, rising by 2.1 per cent over the past year.

While Lethbridge, and Alberta in general, are still more affordable than that, rental costs are increasing at a faster rate.

Across the province, rent went up by 10.3 per cent to an average of $1,835 per month. The analysis included the following Alberta cities:

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• Calgary:
  • One bedroom: $1,692/month, -2.2% annually
  • Two bedrooms: $2,074/month, -4.9% annually
• Edmonton:
  • One bedroom: $1,408/month, +10.1% annually
  • Two bedrooms: $1,717/month, +8.7% annually
• Lethbridge:
  • One bedroom: $1,402/month, +14.8% annually
  • Two bedrooms: $1,614/month, +13.2% annually
• Fort McMurray:
  • One bedroom: $1,240/month, +2.7% annually
  • Two bedrooms: $1,412/month, -7.1% annually

Of the 35 communities that were ranked nationally, Fort McMurray was the most affordable.

On the other end, Vancouver remained the most expensive city in the country. One-bedroom apartments rented for $2,649/month (-11% annually) while places with two bedrooms cost $3,488/month (-10.7% annually).

The full National Rent Report can be found on Rentals.ca

READ MORE: Lethbridge home prices among fastest-rising in Alberta

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