The cost of rent in Edmonton is $1,446 cheaper than in Vancouver
The rental market in Edmonton is one of the lowest in Canada and compared to the most expensive in the country, Vancouver, Edmontonians are saving some serious cash on rent.
Rentals.ca has just released its National Rent Rankings for August 2022 and itâs no surprise Vancouver nabbed the top spot with rent for a one-bedroom climbing to a staggering $2,500, while a two-bedroom costs a whopping $3,630.
Compare that to Edmonton, where a one-bedroom costs $1,054, a massive $1,446 less than the cost of rent in Vancouver. If you are looking for a two-bedroom in Albertaâs capital city, that will cost you $1,333, which is $2,297 cheaper than what youâd get in Vancouver.
The top 10 most expensive cities in Canada to rent in are all in Ontario and British Columbia according to the report, with Vancouver, North Vancouver, Richmond, Toronto, and Victoria rounding up the top five.
Rentals.ca
Edmontonâs sister city, Calgary, can be found lower down on the list too, at #21. A one-bedroom in cowtown goes for $1,583, while a two-bedroom lands at $1,934.
“On a provincial level, British Columbia had the highest rental rates in July 2022, with landlords seeking $2,590 per month on average (all property types); a small increase of 0.6% monthly and 19% annually,” the report stated.
“The average rent for all property types based on Rentals.ca listings is now up by double-digits annually after rising 2.6% month over month in July 2022. However, average rents are still slightly below the previous market peak in late 2019 before the pandemic.”
So, there you have it.
If you are looking to pad your bank account and maybe save up for a house while still renting, sounds like Edmonton is one of the best spots in the country to do so. We love to see it!