Edmontonians are sharing their rent increases and it's nerve-wracking
It’s no secret that the cost of rent is rising in Edmonton. With lease renewals coming up for many renters in 2024, Edmontonians are taking to online forums to discuss their experience with increasing costs.
According to a recent report from Rentals.ca, rental prices in Edmonton have been rising faster than almost anywhere else in Canada. The average cost of a one-bedroom in the city is $1,353, a 16.4% increase compared to last year.
A variety of factors have contributed to rising housing costs, including an influx of new residents from other parts of Canada and higher interest rates bringing up the cost of borrowing.
Hundreds of Edmontonians chimed in on Reddit to share their lease renewal experiences, from those claiming they are fortunate to see little to no increases to those who are facing steep hikes, forcing them to make tough decisions.
How much has your rent increased the past year?
byu/Fishpiggy inEdmonton
How much has your rent increased in Edmonton this year? Let us know in the comments.