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By Jeff Henson

Economy

Grande Prairie with second lowest rent in the country

Dec 16, 2022 | 1:40 PM

Grande Prairie still has some of the lowest rental rates among Canadian cities, according to the latest National Rent report from Rentals.ca.

Grande Prairie ranked 34 out of 35 cities in the report, with only Lloydminster recording lower rental rates.

The average monthly cost to rent a one-bedroom unit in the Swan City was up 1.8 per cent from October to $985.

However, when compared to rates from exactly one year ago, that number is up 16.5 per cent.

Meanwhile, it was actually cheaper to rent a two-bedroom in Grande Prairie than it was in October.

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Average rental cost is now $1,146 for a two-bedroom suite, which is down 2.3 per cent from November’s report.

Year over year, that figure has increased 4.1 per cent.

On the opposite end, Vancouver continues to have the most expensive rent in the country, with a one-bedroom costing $2,633 a month.

In total, 12 of the 35 cities in the report had average monthly rental rates for one-bedroom suites above the $2,000 mark, with no sign of those figures coming down anytime soon according to the report.

The report also shows that cities in Alberta continue to have some of the lowest rental prices in the country; as Calgary, Lethbridge, Edmonton, Red Deer, Grande Prairie, and Lloydminster all ranked in the bottom third of the report.