Edmonton has one of the lowest rent prices in all of Canada
If you rent in Edmonton, your bank account is breathing a sigh of relief. Compared to other cities, Edmonton has one of the lowest rental prices in the country.
According to a national rent report from Rentals.ca, Edmonton is on the lower end of rental prices for one or two-bedroom apartments.
Starting at the top of the list, Vancouver ranks at #1 with rent for a one-bedroom coming in at a staggering $2,176. Want a two-bed pad? That’ll cost you nearly $3,000. Insanity!
The rest of the top 10 most expensive rental cities are scattered throughout Ontario.
Way further down the list comes Edmonton and other cities in Alberta. Calgary sits at #26, while our city is #30.
A one-bedroom place will now cost Edmontonians $1,026 to rent, a slight increase over last month but a more than 2% drop in price compared to 2020.
A two-bedroom bumps you up to $1,258, a slight decrease compared to this time last year.
The report added that the Omicron variant is causing some uncertainty in the national rental market, but lockdowns should be shorter this time around.
Provincially, the average rent in Alberta moved from $1,244 per month in Q4-2020 to $1,233 per month in Q4-2021 — an annual decline of less than 1%.
So pad up that bank account or treat yourself to that night out. It sounds like Edmonton is one of the best cities to get the biggest bang for your buck in the rental market.