REGINA — Regina and Saskatoon remain among Canada’s most affordable large cities, even as Saskatchewan continues to post rent increases while national asking rents decline, according to the latest National Rent Report from Rentals.ca and Urbanation.
The report says the average asking rent for all residential properties in Canada fell 5.3 per cent year over year in March to $2,008, marking the 18th consecutive month of annual declines. National rents were at their lowest level in 35 months and down 7.9 per cent compared with two years ago.
Saskatchewan moved against that trend. At the provincial level, apartment rents rose 3.7 per cent year over year in March. That same report said Saskatchewan apartment rents were up 26.2 per cent over three years — the largest provincial rent increase in the country over that period of time.
Among the country’s 25 most populous cities, Regina and Saskatoon were listed among the most affordable large-city rental markets. Regina’s average asking rent was $1,379 and Saskatoon’s was $1,441. Only Quebec City, at $1,447, was close to those levels among the large-city markets named in the report material.
The most affordable rental markets in Canada were concentrated in the prairies, led by Swift Current ($1,003), Lloydminster ($1,194), Fort McMurray ($1,282), Bonnyville ($1,295), Moose Jaw ($1,345) and Medicine Hat ($1,375).
Nationally, the report said rent declines were concentrated in larger markets. In March, apartment rents fell 4.8 per cent in British Columbia, 4.6 per cent in Alberta and 4.4 per cent in Ontario, while rents rose in Nova Scotia, Saskatchewan and Manitoba.
For renters in Saskatchewan, the picture remains mixed: Regina and Saskatoon are still among the country’s most affordable large cities, but rents in the province continue to rise while much of Canada sees relief.
