By Shaun Penner

June Rental Rates

Grande Prairie sports lowest one-bedroom rental rates in national June report

Jul 16, 2021 | 1:03 PM

The latest national rent report from Rentals.ca shows out of 35 cities surveyed across Canada, Grande Prairie had the lowest average rental rates for one-bedroom units in the month of June.

The national rental listing agency says the average monthly rent in June for a one-bedroom home in the Swan City came in at $887, and 31st out of 35 cities for average monthly rent for two-bedroom units at $1,088.

Year-over-year, the average monthly rent in Grande Prairie for a one-bedroom was down 8.1 per cent in June, while the average monthly rent for a two-bedroom was down 7.4 per cent.

Content Director for Rentals.ca Paul Danison says these kinds of prices have been the norm for the Swan City over the last several months.

“Grande Prairie has been about the same,” said Danison. “It took a rise in April, it was in the $900 range for a one-bedroom, and $1100 range for two-bedroom, but now in June it is back down again.”

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In comparison to other Alberta cities, Calgary ranked 25^th in Canada with an average one-bedroom rate of $1,239, Fort McMurray 28^th at $1,065, Edmonton at $1,013, Lethbridge at $956 and Red Deer at $933.

Vancouver once again topped the Canadian charts for average rent for a one-bedroom unit, coming in at $2,056 per month.

With Grande Prairie’s rental rates continuing to remain low, while prices in other parts of the country are seeing a rise, Danison says it’s a bit surprising to see.

“I’m not sure exactly what the specific situation is in (Grande Prairie), but obviously landlords are not getting as many renters,” said Danison. “I know the vacancy rate has been high. It’s a little north of 9 per cent.”

He does add, however, that as the economy continues to open up prices should begin to rise in the near future.

“If things continue to open up and the border opens, students are back in the classroom, and maybe even immigration coming back, I think that would cause the rents to continue to increase.”

The full rent report can be found here.