In the latest monthly report from Rentals.ca, reporting on July, Grande Prairie was ranked 27th in the country for vacant one-bedroom units at $995 a month. The average price of two-bedroom units was $1,193 a month. 

Prices of one-bedrooms were up by 3.1% and two-bedrooms 1.5%. While they were up by month, they are still down from 2019, by 5.8% and 5.1%. 

Ontario had the highest rental rates in July 2020, with landlords seeking $2,069 per month on average (all property types); this is down 0.7% monthly and 9.4% annually. 

Alberta had the third lowest rates, at an average of $1,228 for all property types, just above Manitoba and a few hundred above Newfoundland.  

Rentals.ca says, “For the first time this year, the average rent for all property types in Canada increased month over month, rising $1 from $1,770 per month to $1,771 per month. However, average rents nationally are still down 9.4% from the market peak of $1,954 average asking rent in September of 2019. 

“As the economy starts to re-open, and new COVID-19 cases continue to decline in most provinces, many tenants will have renewed interest in right-sizing and adjusting their living arrangements. 

“It is clear that low interest rates are enticing some tenants with stable jobs to buy homes, many outside the core of cities, and data is showing a greater desire for cottage properties far from major cities.” 

For the full report, click HERE.