Edmonton now has one of the fastest growing rent prices in Canada

May 12 2023, 5:35 pm

While rent in Edmonton is still wildly more affordable than in most major Canadian cities, YEG now has one of the fastest-growing monthly rent prices in the country.

Our wallets are not loving that situation, thatā€™s for sure.

According to the May Canadian Rent Report from Zumper, Edmonton moved up one ranking to become the 22nd priciest city and had the largest monthly rent price growth rate, climbing 5.8% to $1,090.

That works out to be a 16% year-over-year price jump.

Top 10 Canadian cities with the most expensive one-bedroom rents

Zumper

The cost for a two-bedroom unit in Edmonton saw an even larger 6.2% month-over-month price jump, now sitting at $1,380 per month.

Our friends to the south have seen rent prices explode compared to YEG, with Calgary now cracking the top of the list as the 10th most expensive rental market in the nation. The prices of one- and two-bedrooms in Calgary now sit at medians of $1,750 and $1,940, respectively.

The price of one-bedroom rentals in Calgary has shot up a jaw-dropping 42.3% since this time last year.

Zumper added that Vancouver remained the most expensive city in the nation with one-bedroom rent costing $2,600, while two-bedrooms shot up to $3,800.

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