The latest report from Rentals.ca shows new listings in Lethbridge are only getting more expensive.
One-bedroom apartments are being listed for $1,366 a month.
“We’re seeing in Lethbridge, one-bedroom apartments are about 14.5 per cent more than they were at this time last year. Two-bedroom apartments are hovering between that eight and nine per cent,” said Rentals.ca associate communications director, Giacomo Ladas.
Lethbridge’s increase comes at a time when Calgary, Toronto and Vancouver saw their one-bedroom rents drop by six per cent or more.
One reason for this is that as people have left bigger cities due to high rents, many have chosen to settle in mid-sized cities like Lethbridge.
“Now what’s happening is the secondary markets throughout the provinces are the ones that are really starting to see these increases kind of continue,” Ladas said.
“We’re not just seeing it in Lethbridge. We’re seeing it in other areas like Red Deer. We’re seeing it in Medicine Hat. ... We’re seeing in Saskatoon, Regina, Fort McMurray, in Lloydminster.”
The Lethbridge Housing Authority has seen demand for its affordable units and subsidies skyrocket.
“All of our programs, of course, are fully subscribed. We currently, as of Dec. 31, have 1,457 applications on the waitlist. So that’s individuals looking for subsidized housing and/or rental assistance within the private landlord market,” said Robin James, CAO for the Lethbridge Housing Authority.
While rents are continuing to rise in Lethbridge, it’s still one of the most affordable cities in Canada.
Out of the 35 cities in the Rentals.ca report, Lethbridge came in at 32.
“The average apartment in Canada right now is going for about $2,100 a month. I think it’s $2,109 a month. So, for Lethbridge, one bedroom, it’s about $1,300 a month on average,” said Ladas.
“I would say if you’re looking at the rest of the country, that’s not too bad.”