An Alberta city is seeing the highest rent price hike in Canada by far
While rent prices in major cities post lows not seen in a year and a half, one Alberta city is seeing its rental costs skyrocket, with the highest annual price hike in Canada.
Rentals.ca just released its February 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 5.6% over the last year, dropping to $1,600 per month.
In Edmonton, rent increased by 2%, with a one-bedroom apartment rising to an average of $1,331 monthly. That’s slightly cheaper than what rent now costs in Lethbridge, however.
The average price of a single bedroom in Alberta’s fourth largest city is now $1,393, a 14.6% increase over last year ā the highest annual increase in Canada. A two-bedroom apartment in Lethbridge now runs for $1,559, a 10.7% increase over last year.
Only one other city in Canada posted a double-digit annual increase in rent. Niagara Falls saw a 10.2% yearly increase, bringing the average cost to $1,801.
According to Alberta Government estimates, Lethbridge’s population of 110,695 has increased by 4.19% year-over-year and 9.86% in the last five years.
Canada’s 10 most expensive places to rent were all located in BC and Ontario; however, nearly every city saw an annual decline in rent prices.
Rentals.ca
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Rentals.ca
The report added that the average asking rent for all residential properties in Canada was $2,100 in January, declining 4.4% from the previous year to an 18-month low.