Edmonton is no longer the cheapest capital city to rent in Canada

While we may have a slight upper hand with the cost of living in Edmonton, things are starting to change for us when it comes to the price of rent.

Rentals.ca released its September 2023 Rent Report — which compares the cost of rent in cities across Canada — and compared to other major cities, Edmonton is relatively affordable, but it’s not all rosy.

Since last month, Edmonton has climbed a spot to become the 30th most affordable on the list of 35 cities. It’s no longer the cheapest capital city to live in, as Winnipeg and Quebec City now outrank YEG in terms of rent prices.

Still, it’s more affordable than Canadian cities of comparable size, ranking below Calgary and everywhere listed in BC and Ontario.

Rentals.ca

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According to the report, a one-bedroom place now costs Edmontonians $1,279 monthly to rent, a staggering 6.9% increase over last month. For a two-bedroom, that’ll bump you up to $1,578, a 3% increase compared to this time last month.

Compared to last year, rent prices for a one-bedroom are up an alarming 18%, and two-bedrooms have seen a 13.3% increase annually.

Rent prices in Alberta are continuing to increase at a higher rate than any other province the report studied, including BC. Average rent prices in the province have ballooned by 16% annually compared to BC’s 11%.

Rentals.ca

Canadians across the country are feeling the pinch of rising living costs. The average rent for all Canadian properties listed on Rentals.ca in September was $2,046 per month, up 13% annually.