Lethbridge rental prices fall slightly in October

It is part of a trend that is occurring across much of the country.

According to the report, the national average price for rent fell by 1.2 per cent year-over-year in October, marking the first annual rent decline since July 2021. The nationwide average is $2,152 per month.

Rental prices were up by six per cent on average in Alberta over the last 12 months to $1,786.

Calgary:
- One bedroom: $1,658, down 4.3% annually
- Two bedrooms: $2,004, down 7% annually
Edmonton:
- One bedroom: $1,384, up 7.8% annually
- Two bedrooms: $1,703, up 6.7% annually
Lethbridge:
- One bedroom: $1,330, up 9.5% annually
- Two bedrooms: $1,574, up 9.4% annually
Fort McMurray:
- One bedroom: $1,218, down 0.7% annually
- Two bedrooms: $1,404, down 5% annually

Of the 35 communities that were analyzed, Fort McMurray was the cheapest in the country.

Vancouver, on the other hand, was once again the most expensive, despite recent price drops. A one-bedroom unit there rents for an average of $2,610 per month, while two bedrooms will set up back $3,430 monthly.

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

A new report from Desjardins suggests that rent inflation is expected to slow in Canada in the coming years. They attribute this theory to the federal government’s plan to cut back on immigration, which is expected to ease the demand for housing.

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by David Opinko

Lethbridge rental prices fall slightly in October

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