The average price to rent in Fort McMurray saw a drop in 2020 compared to previous years.
According to Rentals.ca, renting a one-bedroom space last December averaged just over $1,000. This was just under the amount renters paid in Edmonton.
The local cost is down roughly $200 from the end of 2019 and $300 from the end of 2018.
At one point in 2020, the average cost for renting a one-bedroom space dipped below $1,000.
As for two-bedrooms, they averaged over $1,200 in December. This was just a little lower than in 2019, but roughly $100 less when compared to 2018.
Matt Danison, CEO of Rentals.ca., noted this is a trend they’re seeing across the country.
“In many markets, rents have dropped to the point where tenants can lease a suite with an additional bedroom for the same rent as they were paying last year.”
Calgary had the highest costs in Alberta, averaging nearly $1,200 for one-bedroom and roughly $1,500 for two.
Grande Prairie, Lethbridge, and Red Deer were all under $1,000 for one, while renting two bedrooms cost around $100 less in Red Deer.