Want to save money? Rent in Edmonton is WAY cheaper than in Calgary

If you are looking to move to Alberta or just want to save some cash, it looks like the place to be is Edmonton over Calgary when it comes to rent prices.

According to a new report from Zumper, our friends down in Calgary saw the largest year-over-year rent price increase at a whopping 32%.

Zumper

Calgary now takes eighth place for the highest rental costs in Canada. The average rent for a one-bedroom apartment in the city is now $1,800, while a two-bedroom pad shoots up to $2,030, a nearly 24% year-over-year increase.

Renters in Edmonton are also seeing prices spiking, although not as harshly as Calgarians are experiencing.

The average rent for a one-bedroom apartment in YEG currently stands at $1,130, a 13% year-over-year increase, but $680 cheaper per month compared to YYC.

A two-bedroom costs $1,410 in Edmonton, while the rent for a two-bedroom in Calgary balloons to $2,030.

Zumper

Prices are up across the country and continue to climb. The average cost of an apartment nationally has gone up by 15% since this time last year.

The average cost of a one-bedroom apartment nationally is now $1,833, while the cost of a two-bedroom is $2,285.

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Canada.ca attributes the high cost to a few different factors including increased immigration, and there hasn’t been enough construction to meet the demand for more housing. It also mentions the influence of high interest rates on consumers not leaving the rental market.

It’s no surprise that Vancouver took the top spot in the country, with the average rent for a one-bedroom apartment at a staggering $2,800.