Medicine Hat ranks third in lowest asking rent prices in Canada; national report

By MEDICINE HAT NEWS on February 10, 2026.

newsdesk@medicinehatnews.com

According to the National Rent Report published for February 2026 the asking price for renters in Medicine Hat is among the lowest in the country.

On average, Hatters who rent apartment spaces or condos pay $1,340 monthly, the third lowest in the country, behind other Alberta communities Lloydminster at $1,232 and Fort McMurray at $1,284.

In fact, six municipalities in the province rank in the top 10 lowest average asking prices for rent, including Red Deer ranks No. 5 at $1,413, Grande Prairie is ranked No. 6 at $1,440 and Lethbridge at rank No. 9 at $1,503.

The data does not include the country’s six largest cities Vancouver, Toronto, Ottawa, Calgary, Edmonton and Montreal. However, it is noted that asking rent prices in Edmonton are comparable to the top 10 lowest asking prices for rent with one-bedroom apartments costing on average $1,309 per month.

On average Canadians who rent paid an average of $2,057 last month, according to data this is the lowest rent prices have fallen in 31-months and prices have continued to decline for the 19th consecutive month.

In Alberta rent prices dropped on average 4.3 per cent in 2025 and the province remained the third lowest average rent in the country at $1,754 behind Saskatchewan ($1,471) and Manitoba ($1,654.)

Rent prices still remain on average 12.9 per cent higher than before the COVID 19 pandemic.

North Vancouver tops the most expensive places asking for rent at $2,905 on average per month followed by Rickmond at $2,643 and North York, Ont. at $2,523.

Data was found on rentals.ca monthly rent report.

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