(Lethbridge News Now)

By David Opinko

After sizable drop in April, home rental prices in Lethbridge bounce back in May

Jun 12, 2020 | 10:42 AM

LETHBRIDGE, AB – The cost of rent in Lethbridge returned to a more normal level after seeing a fairly sizable drop earlier this spring.

According to the latest National Rent Report for May from Rentals.ca and Bullpen Research and Consulting, the average price to rent a one-bedroom unit in the city increased by five per cent to $941 per month.

It now costs 1.8 per cent more to rent a two-bedroom home compared to April, now rising to $1,007.

Lethbridge was the third least expensive city to rent a home in out of 34 communities across the country that were analyzed and the second least costly in Alberta, behind only Red Deer.

The COVID-19 pandemic has hampered the abilities of many people to afford rent in recent months.

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

“This sharp drop in demand has resulted in landlords dropping their asking rents in most major markets across the country,” said Ben Myers, president of Bullpen Research and Consulting.

In the report for April, the typical rates for both one-bedroom (-6.9 per cent) and two-bedroom (-8.5 percent) units in Lethbridge had fallen substantially.

Even now, the national picture sees rental prices dropping an average of 1.4 per cent to $1,814 per month for all residential rental types.

Across Alberta, the average cost of rent rose by 1.2 per cent in May to $1,242.

Five Albertan cities were studied as part of this report. The breakdown of those communities, sorted by their national placement by price, is as follows:

• Calgary (26)
  • One bedroom: $1,138 (-1.6 per cent)
  • Two bedrooms: $1,358 (+0.9 per cent)
• Edmonton (29)
  • One bedroom: $1,007 (-0.3 per cent)
  • Two bedrooms: $1,214 (+1.5 per cent)
• Fort McMurray (30)
  • One bedroom: $999 (-7.3 per cent)
  • Two bedrooms: $1,200 (+3.4 per cent)
• Lethbridge (32)
  • One bedroom: $941 (+5 per cent)
  • Two bedrooms: $1,007 (+1.8 per cent)
• Red Deer (34)
  • One bedroom: $892 (-2.3 per cent)
  • Two bedrooms: $931 (-8 per cent)