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By Justin Goulet

Rental rates up in Lethbridge in July: National Rent Report

Aug 17, 2021 | 7:49 AM

LETHBRIDGE, AB – Rental rates for one and two-bedroom units took a jump in July.

According to the latest National Rent Report from Rentals.ca and Bullpen Research & Consulting, Lethbridge came in at 28^th out of the 35 municipalities studied for rent affordability, meaning YQL remains one of the more affordable locations to rent in across Canada, even with a rise in prices.

The rent report can be viewed here.

In July, the average price for a one-bedroom unit was $991. For a two-bedroom, the average price was $1,099 a month. Month over month, average monthly rents in July went up 3.7 per cent for a one-bedroom and 5.6 per cent for a two-bedroom.

Nationally, the average rent in the country increased for the third month in a row, rising to $1,752 in July. That’s up 1.8 per cent month over month.

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The average asking rent for all Canadian properties listed on Rentals.ca was down 1.1 per cent year over year last month but has trended upward over the last few months. In April, average annual rents were down nine per cent, in May they were down 5.7 per cent and in June, down 2.7 per cent.

The report notes that as pandemic restrictions ease, average rents for two-bedroom condominium and rental apartments are increasing at a faster rate than one-bedroom suites.

Vancouver remains Canada’s most expensive city to rent in, with the average price for a one-bedroom last month listed at $2,185 a month. For a two-bedroom in the western city, the average monthly rent was $3,041. Toronto came in as the second-most expensive city for rental rates in the country.

Below is a look at the municipalities in Alberta and where they rank:

• Calgary (22)
  • Average rent for a one-bedroom: $1,246
    • Up 0.6 per cent month over month, Up five per cent year over year
  • Average rent for a two-bedroom: $1,622
    • Up 5.5 per cent month over month, Up 14.2 per cent year over year
• Fort McMurray (26)
  • Average rent for a one-bedroom: $1,085
    • Up 1.9 per cent month over month, Up two per cent year over year
  • Average rent for a two-bedroom: $1,267
    • Down 1.5 per cent month over month, Up 4.2 per cent year over year
• Edmonton (27)
  • Average rent for a one-bedroom: $1,028
    • Up 1.4 per cent month over month, Down 1.8 per cent year over year
  • Average rent for a two-bedroom: $1,241
    • Up 1.5 per cent month over month, Down 3.7 per cent year over year
• Lethbridge (28)
  • Average rent for a one-bedroom: $991
    • Up 3.7 per cent month over month, Up 3.7 per cent year over year
  • Average rent for a two-bedroom: $1,099
    • Up 5.6 per cent month over month, Down 1.6 per cent year over year
• Grande Prairie (30)
  • Average rent for a one-bedroom: $937
    • Up 5.6 per cent month over month, Down 5.8 per cent year over year
  • Average rent for a two-bedroom: $1,114
    • Up 2.4 per cent month over month, Down 6.6 per cent year over year
• Red Deer (33)
  • Average rent for a one-bedroom: $901
    • Down 3.4 per cent month over month, Up 3.3 per cent year over year
  • Average rent for a two-bedroom: $1,052
    • Down 2.1 per cent month over month, Up 2.9 per cent year over year
• Lloydminster (35)
  • Average rent for a one-bedroom: $721
    • Down 1.7 per cent month over month, Down 7.8 per cent year over year
  • Average rent for a two-bedroom: $834
    • Up 1.8 per cent month over month, Down 8.1 per cent year over year