Edmonton is known for its affordability and job growth, and a new report has ranked the city as the second least expensive major city to rent in all of Canada. YEG showing up and turning out!
The latest report from Zumper shows the average cost of a one-bedroom is up 1.1% from last month to $950. That’s an increase of 2.2% from this time last year.
If a two-bedroom is more what you are looking for, that is going to cost you $1,220 which is up 3.4% from last year.
Vancouver is still the most expensive with a one-bedroom costing renters $2,240 and two beds ringing in at $3,300.
Toronto and Burnaby round out the top three.
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The good news? As rent explodes in some cities in Canada, Alberta’s capital city keeps sitting pretty when it comes to the cost of rent.
“Seventy-five percent of the Canadian cities on this report experienced growing monthly rents and over 60% experienced double-digit year-over-year rent price growth rates. As many leases end during the summer, it seems many renters are beginning to look for their next apartment, which is driving up demand and prices,” the report states.
With rent this low, it’s no wonder Edmonton is the best city in the country to work from home as well. Stay golden, Edmonton.