A new report shows home rental costs in Lethbridge have risen at a fast rate, while slowing in many other Canadian communities. (Photo: Sparky2000 | Dreamstime.com)

By David Opinko

Lethbridge rental prices rose at fastest rate in Canada

Feb 6, 2025 | 9:31 AM

While much of the country got a slight reprieve from rising home rental costs over the last year, renters in Lethbridge saw their bills go up.

Urbanation and Rentals.ca have released the latest National Rent Report, which looks at the numbers for January 2025.

They say the cost to rent a one-bedroom apartment in Lethbridge was $1,393 per month on average, increasing by 14.6 per cent over the past year.

Two-bedroom units in the city went for $1,559, up 10.7 per cent annually.

By comparison, Statistics Canada says the general rate of inflation for 2024 was just 2.4 per cent.

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Although rental costs nationally remain much higher than in Lethbridge, they went down a little bit at $1,860 per month for one bedroom (down 3.5 per cent) and $2,194 for two bedrooms (down 3.8 per cent).

The gap in prices between Lethbridge and the rest of the province has narrowed as rentals in Calgary have become slightly more affordable. They decreased by 5.6 per cent for a single bedroom to $1,600 monthly and by 7.1 per cent to $1,926 for two bedrooms.

The provincial average in Alberta was virtually unchanged at $1,480 for one bedroom and $1,810 for two bedrooms.

Four communities in Alberta are listed in the National Rent Report, which are listed below in terms of price. The number in brackets represents that community’s ranking out of 35 cities across Canada.

• Calgary (28):
  • One bedroom: $1,600 per month, down 5.6 per cent annually
  • Two bedrooms: $1,926 per month, down 7.1 per cent annually
• Lethbridge (31):
  • One bedroom: $1,393 per month, up 14.6 per cent annually
  • Two bedrooms: $1,559 per month, up 10.7 per cent annually
• Edmonton (32):
  • One bedroom: $1,331 per month, up two per cent annually
  • Two bedrooms: $1,662 per month, up 2.8 per cent annually
• Fort McMurray (35):
  • One bedroom: $1,211 per month, down 3.4 per cent annually
  • Two bedrooms: $1,438 per month, up 1.5 per cent annually

For anyone who is concerned that housing is becoming too pricey in Alberta, they can look at the rental market in Vancouver, which is the most expensive in the country.

Despite a slight decline over the last year, the cost to rent one bedroom in Vancouver was $2,522 per month and places with two bedrooms went for $3,443 monthly.

The full National Rent Report can be read online here.

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