Red Deer average rent rises to $1,536 in July, still among cheapest in Canada
Despite a monthly increase, Red Deer continues to rank near the bottom of Canadian rental markets for cost, according to the latest national rent report.
Why it matters
The data shows Red Deer and much of Alberta remain more affordable for renters even as national rents begin to stabilize.
Red Deer's average asking rent climbed to $1,536 per month in July, up from $1,508 in June, according to the National Rent Report by Rentals.ca and Urbanation. The city ranked 52nd out of 60 Canadian markets tracked for average rent by city and unit type, an improvement from 55th in June and 53rd in May.
A one-bedroom unit in Red Deer averaged $1,239 per month in July, down from $1,337 in June and $1,333 in May. Two-bedroom units cost an average of $1,509 per month in July, slightly higher than $1,499 in June and $1,507 in May.
Red Deer also placed among the five most affordable Canadian markets for purpose-built and condo rental apartments, at $1,402 per month, behind Fort McMurray ($1,313), Medicine Hat ($1,337), Lloydminster ($1,338) and Saskatoon ($1,402).
Provincially, Alberta had the third-cheapest average rent in Canada at $1,767 per month across all property types, a 4.2 per cent drop year over year, trailing only Manitoba and Saskatchewan. Nationally, average asking rent fell four per cent year over year to $2,037 in July, marking the 22nd straight month of annual declines, though rents rose 0.2 per cent month over month for a fourth consecutive monthly increase.
Compiled by the Alberta Daily Desk — an AI-written summary of reporting from the credited sources below, produced and reviewed under our editorial policy.