A new report shows that the cost to rent a home in Lethbridge has decreased slightly over the last year. (Image Credit: (c) Sparky2000 | Dreamstime.com)

By David Opinko

Lethbridge is seventh-cheapest on national rent ranking

Mar 10, 2026 | 9:27 AM

Alberta continues to show that it is perhaps Canada’s most affordable province when it comes to rental accommodations.

Rentals.ca and Urbanation have released their latest National Rent Report, which includes prices from February 2026.

A total of 60 communities across the country were analyzed, and half of the 10 communities with the lowest average rental prices were in Alberta.

Lethbridge ranked seventh overall for affordability, improving by one spot from last month’s list.

Rental homes cost $1,502 per month on average in Lethbridge, falling by $26 from the report for January.

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Homes with one bedroom cost $1,361 per month, falling by 1.3 per cent over the last year, while units with two rooms stayed put at $1,582.

The provincial average among all home sizes was $1,750 on a monthly basis, falling by five per cent over the last year.

Eight Albertan communities were included in the National Rent Report. They are listed below in descending order of price, with their ranking on the national list out of 60 in brackets:

• Airdrie (40)
  • Total: $1,914/month
  • One bedroom: $1,442/month, up 0.2% annually
  • Two bedrooms: $1,702/month, down 4.3% annually
• Calgary (43)
  • Total: $1,870/month
  • One bedroom: $1,531/month, down 3.3% annually
  • Two bedrooms: $1,844/month, down 3.9% annually
• Edmonton (50)
  • Total: $1,590/month
  • One bedroom: $1,302/month, down 2.1% annually
  • Two bedrooms: $1,639/month, down 0.7% annually
• Red Deer (52)
  • Total: $1,556/month
  • One bedroom: $1,282/month, up 0.4% annually
  • Two bedrooms: $1,511/month, up 2.1% annually
• Lethbridge (54)
  • Total: $1,502/month
  • One bedroom: $1,361/month, down 1.3% annually
  • Two bedrooms: $1,582/month, no annual change
• Medicine Hat (57)
  • Total: $1,364/month
  • One bedroom: $1,240/month, up 2.9% annually
  • Two bedrooms: $1,386/month, down 0.6% annually
• Fort McMurray (58)
  • Total: $1,353/month
  • One bedroom: $1,165/month, down 3.6% annually
  • Two bedrooms: $1,411/month, down 0.7% annually
• Lloydminster – Alberta side (59)
  • Total: $1,255/month
  • One bedroom: $1,090/month, up 6.3% annually
  • Two bedrooms: $1,354/month, up 8.4% annually

North Vancouver remains the most expensive city in the country for rent, nearly double what people can expect to pay in Lethbridge. The average cost of rent there is $2,969 per month.

Nationally, rent fell by 2.8 per cent annually to a 33-month low of $2,030 per month. Rental prices have declined on an annual basis for the 17th consecutive month.

You can see the full National Rent Report at Rentals.ca