By Shaun Penner

August Rent Report

Rental rates down in Grande Prairie in August

Sep 15, 2021 | 9:58 AM

Average rental rates in Grande Prairie saw an overall decline in August, both month over month and year over year.

According to the National Rent Report prepared by rental service Rentals.ca, the Swan City’s average rent for a one-bedroom unit in August of 2021 was $895, which ranked 32nd among the 35 cities surveyed across Canada last month.

Two-bedroom units in the city went for an average of $1,080, which ranked 31st out of 35 cities in Canada.

Month over month, the average rent was down 4.5 per cent from July for a one-bedroom, when the average rent was $937. Rent for two-bedroom units was also down by 3.1 per cent, as the average price in July was $1,114.

On a year over year basis, the average monthly rent in August in Grande Prairie was down 11.2 per cent for a one-bedroom and 8.6 per cent for a two-bedroom.

Among the five Alberta cities surveyed as part of the report, Grande Prairie had the second-lowest rental rates for a one-bedroom unit, only more expensive than Lloydminster at $718.

Calgary had the highest rates in Alberta at $1,231 for a one-bedroom, which was the 27th highest in Canada. Edmonton ranked 29th in the county with an average one-bedroom price of $1,011, while Red Deer ranked 31st at $914.

The downward trend seen in Alberta was not seen in other parts of the country, as the average rent in Canada increased for the fourth month in a row, rising to $1,763 in August, up 0.6 per cent month over month.

Vancouver was once again the most expensive rental market in Canada last month, with average rates for a one-bedroom unit sitting at $2,167. Toronto ranked second, sitting with an average one-bedroom rate of $1,989.

The full rent report for August can be found here.