Edmonton Real Estate Blog

Cost of Rent in Edmonton Good Reason to Buy a Home

With the average cost of renting a two-bedroom apartment in Alberta at about $1,029, it makes good sense to consider purchasing a home. According to Lai Sing Louie, Canada Mortgage and Housing Corporation regional economist, rates on rental properties began rising in 2006 due to a healthy economy and increased demand for housing, and rental rates have remained high ever since.

Louie also stated that as migrants start returning to Alberta, incentives that have been offered by landlords (such as free rent for one month) are on their way out because of a substantial increase in demand for housing.

While demand for apartments and rental homes continues to soar because of a strengthened economy, it is getting harder to find apartments and a bit more costly. While the average cost of renting an apartment in Edmonton during the month of April was $1,029, the average rent for a two bedroom apartment in Canada was $864.

Many people who rent feel that they cannot afford a...