Lethbridge has been ranked the second most affordable city in Canada for rent, according to the January 2024 National Rent Report. (Photo: Lethbridge News Now)

By David Opinko

Lethbridge second most affordable city for rent in national ranking

Jan 15, 2024 | 2:50 PM

LETHBRIDGE, AB – One of the country’s most affordable cities in which to rent an apartment is in southern Alberta.

That is according the National Rent Report for January 2024 from Rentals.ca and Urbanation.

They analyzed 35 communities and determined that the monthly cost of rent in Lethbridge is the second-lowest in Canada.

On average, it cost $1,193 to rent a one-bedroom apartment in Lethbridge, while units with two bedrooms went for $1,409.

That represents increases of 2.2 per cent and 1.6 per cent from the same time last year respectively.

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Saskatoon was the cheapest with one bedroom units renting for $1,150 and two bedrooms for $1,405.

The National Rent Report included four cities in Alberta. They are listed below in descending order of price with their place on the national ranking out of 35 in brackets:

• Calgary (22)
  • One bedroom: $1,708 per month, up 14.1 per cent annually
  • Two bedrooms: $2,084 per month, up 12.4 per cent annually
• Edmonton (31)
  • One bedroom: $1,285 per month, up 15.4 per cent annually
  • Two bedrooms: $1,602 per month, up 12.6 per cent annually
• Fort McMurray (32)
  • One bedroom: $1,240 per month, up 15.6 per cent annually
  • Two bedrooms: $1,438 per month, up 4.2 per cent annually
• Lethbridge (34)
  • One bedroom: $1,193 per month, up 2.2 per cent annually
  • Two bedrooms: $1,409 per month, up 1.6 per cent annually
    The monthly cost of rent in four Alberta cities, according to the January 2024 National Rent Report. (Source: Rentals.ca and Urbanation)
    The annual change in rental costs in four Alberta cities, according to the January 2024 National Rent Report. (Source: Rentals.ca and Urbanation)

Vancouver was once again the most expensive city in the country for rent. A single-bedroom unit there rented for an average of $2,700 per month, while homes with two bedrooms went for $3,660 monthly.

The full report can be found on Rentals.ca.

READ MORE: Lethbridge News Now

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