An Alberta city is seeing some of Canada's fastest rent hikes
Despite rent prices in Canadian cities posting lows not seen in almost two years, one Alberta city continues to see rental costs skyrocket, with the highest annual price hike nationwide.
Rentals.ca just released its March 2025 Rent Report, which compares the cost of rent in 35 cities across Canada.
According to the data, rental costs across Canada are posting annual declines, save for a handful of cities. In Calgary, the average price of a one-bedroom apartment fell 7.5 per cent over the last year, dropping to $1,583 monthly.
In Edmonton, rent increased by 1.4 per cent, with a one-bedroom apartment rising to an average of $1,330 monthly, which is slightly cheaper than what rent now goes for in Lethbridge.
The average price of a single bedroom in Alberta’s fourth largest city is now $1,379, a 10.1 per cent increase over last year ā the second-highest annual increase in Canada. A two-bedroom apartment in Lethbridge now runs for $1,583, an 8.1 per cent increase over last year.
Quebec City, which experienced the highest annual rent growth, saw the price of a one-bedroom apartment rise by 12.1 per cent to an average of $1,462 monthly.
According to Alberta Government estimates, Lethbridge’s population of 110,695 has increased by 4.19 per cent year-over-year and 9.86 per cent in the last five years.
Canada’s 10 most expensive places to rent were all located in B.C. and Ontario, with nearly every city seeing an annual decline in rent prices.
Rentals.ca
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Rentals.ca
The report added that the average asking rents in Canada declined compared to a year ago for the fifth consecutive month in February, falling 4.8 per cent to $2,088 ā the lowest level since July 2023.