Tuesday, April 26, 2022
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Sharp increases in average monthly rent in Lethbridge in July

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LETHBRIDGE, AB – If you’ve tried to rent a place to live in Lethbridge lately, you may have noticed it’s become a bit more expensive.

According to the latest report from Rentals dot.ca, monthly rent for a one bedroom place here in city in July increased to $991 dollars on average and for a two bedroom home, average rent jumped to just under $1,100 a month.

Those are big increases month-over-month.

To put that into perspective, average monthly rent in Lethbridge jumped 3.7% for a one bedroom home between June and July and 5.6% for a two bedroom place.

Across the country as a whole, average monthly rent is up coast-to-coast for a third straight month.

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“As employees get called back to the office, and colleges and universities announce their reopening plans, demand has increased significantly in central locations,” says Ben Myers, president of Bullpen Research & Consulting. He notes is particularly noticeable in Toronto and Vancouver where bidding wars are being reported again for rental properties.

Vancouver continues to lead the list of 35 cities for highest average monthly rent for a one bedroom home at $2,185 and for a two bedroom at $3,041. Toronto finished second for average monthly rent in July for a one bedroom home at $1,855 and for a two bedroom at $2,606.

(With files from Rentals.ca)

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