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By Jeff Henson

RENT

Grande Prairie average rental prices lowest among cities in National Rent report

Mar 16, 2023 | 1:46 PM

The latest National Rent Report from Rentals.ca and Urbanization shows Grande Prairie has the lowest rent for one and two-bedroom units among the 35 cities surveyed.

One-bedroom units were going on average for $966 a month in February, a 9.2 per cent increase from one year ago.

Two-bedroom units have seen a 9.8 per cent year-over-year increase in Swan city, with an average price of $1,186 per month in February.

Across Alberta, the average price of all rental properties was $1,424 in February, with one bedroom on average at $1,272, two bedrooms averaging $1,587, and three bedrooms at $1,655.

Across the country, asking rent for all properties was up 9.7 per cent year over year in February to $1,984, marking the first time since June that average rents have not increased by double digits.

According to the report, the average rental price dropped 0.6 per cent from January and has dropped two per cent over the past three months.