Average monthly rent in Lethbridge increases in 2020 over previous year
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LETHBRIDGE, AB. – Despite the COVID-19 pandemic, the average cost to rent a place in Lethbridge actually went up last year.
Data released by Rentals.ca says year-over-year, average monthly rent for a one bedroom home was up 2.5% in Lethbridge, while rent for a two bedroom place jumped 8.2%.
That’s certainly on the opposite end of what was a downward trend for rent across the country as a whole in 2020.
Rentals.ca says Lethbridge though remains an affordable city for renters, with the average monthly cost to rent a one bedroom place at $950 and a two bedroom around the $1,100 mark.
Across the province, average monthly rent for single-family homes fell 10% between 2019 and 2020 and condo and apartment rents dropped 3%.
Meanwhile, the most expensive place in Canada for rent is now in Vancouver. Out of the 35 cities in this report, Vancouver’s rental market in December was quite high: a one-bedroom home at $1,855 a month and for a two-bedroom at $2,635.
The National Rent Report charts and analyzes monthly, quarterly and annual rates and trends in the rental market on a national, provincial, and municipal level across all listings on Rentals.ca for 35 cities across Canada.
In December, Lethbridge came in at number 29 on that list.