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By Shaun Penner

July Rent Report

Rental rates up month over month in Grande Prairie

Aug 17, 2021 | 8:33 AM

Average rental rates in Grande Prairie saw a month over month rise in July, though rates remain below those recorded in July of 2020.

According to the firm Rentals.ca, the Swan City’s average rent for a one-bedroom unit in July of 2021 was $937, which ranked 30^th among the 35 cities surveyed last month. Two-bedroom units went for an average of $1,114, which ranked 29^th out of 35 cities in Canada.

Month over month, the average rent was up 5.6 per cent for a one-bedroom, when the average rent was $887 in June. Rent for two-bedroom units was also up by 2.4 per cent, as the average price in June was $1,088.

On a year over year basis, average monthly rents in Grande Prairie were down 5.8 per cent from July 2020 for a one-bedroom and 6.6 per cent for a two-bedroom.

Among seven Alberta cities surveyed last month, Grande Prairie had the third-lowest rental rates, only more expensive than Lloydminster at $721 and Red Deer at $901 for a one-bedroom unit.

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Calgary had the highest rates in Alberta at $1,246 for a one-bedroom, which was the 23^rd highest in Canada. Fort McMurray (26^th), Edmonton (27^th), and Lethbridge (28^th) were also surveyed.

In it’s National Rent Report, Rentals.ca notes the average rent in Canada increased for the third month in a row, rising to $1,752 in July, up 1.8 per cent month over month.

Vancouver was once again the most expensive rental market in Canada, with average rates for a one-bedroom unit sitting at $2,185 in July. Toronto ranked second, sitting with an average one-bedroom rate of $1,855.

The full rent report can be found here.