By Liam Verster

Rental Rates

Grande Prairie’s rental rates see slight changes in March, down significantly from 2020

Apr 16, 2021 | 11:15 AM

Data from Rentals.ca shows the average rent for one- and two-bedroom units in Grande Prairie are down on a year-over-year basis, while on a month-over-month comparison, there were slight changes.

The average rent for one-bedroom units was recorded at $897 in March 2021, up from the $874 recorded in February 2021.

Rent for a two-bedroom unit has declined from $1,100 to $1,089 in that same period of time.

Those changes represent a 2.6 per cent increase for one-bedroom rates on a month-over-month basis, and a 1.1 per cent decrease in two-bedroom rates.

Despite the mixed fluctuations when compared to the previous month, rent is still significantly down from the past year.

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The average rent for a one-bedroom unit is down 14.3 per cent from March 2020, when the rent was recorded at $1,020. Two-bedroom units are also down 10.8 per cent from the $1,201 average set last March.

The newly recorded average rent, which is based on listing for vacant units, puts Grande Prairie in 34th place for one-bedroom rates and 33rd for two-bedroom rates on Rentals.ca’s national rent report.

Only Saskatoon had less-expensive one-bedroom rates in March at $877, while Quebec City placed 33rd for one-bedroom rates at $933.

For two-bedroom units, Red Deer was ranked 34th at $1,072 and Saskatoon was ranked 35th at $1,071. Quebec City was ranked 32nd at $1,090.

When looking at the province as a whole, Alberta’s average rent was recorded at $1,207 in March 2021. That’s down from the $1,243 average recorded in February 2021, andlower than March 2020’s average of $1,235.

The average rental rates for all of Canada was recorded at $1,685 in March 2021, down from the $1,714 in February 2021, and 8.5 per cent less than the average of $1,842 set in March 2020.