Rent remains stable in Alberta as the rest of Canada sees increase
Posted August 17, 2022 6:55 pm.
Last Updated August 17, 2022 6:57 pm.
The prairies continue to be one of the cheapest places to rent according to the latest monthly report from rentals.ca.
While rent has gone up a bit in Calgary, Edmonton is in a sweet spot.
“I think Calgary and Edmonton are pretty hot spots right now,” said Paul Danison with rentals.ca. “The demand and the supply, are pretty equal which is just not happening in other parts of the country.”
Confirming what Premier Jason Kenney was pitching to workers in other provinces Monday – that Alberta is an affordable option compared to Toronto or Vancouver.
RELATED: Alberta to bring workers from Vancouver and Toronto, cost of living ‘ridiculous’
The average single-family home renting for just over $1,800 in Edmonton, and just under $2,100 hundred in Calgary.
But is the house you can afford, enough? Experts say the economic Alberta advantage alone, is not sustainable long-term.
“For the first time in decades, Alberta is starting to bleed young people,” explained David Finch, professor at Mount Royal University.
Generation Z is more interested in identity, inclusivity and purpose according to research for the Canada West Foundation, saying it’s almost equal, to personal safety.
This means, the perception of Alberta and political blunders like the recent award given to a racist and sexist essay, hurt the province.
“All of a sudden, when you start awarding essays that suggest women aren’t equal and that new Canadians aren’t real Albertans, you can tell them about all the job opportunities in the world, that’s secondary, because it’s starting to hit one of their core values that they are not prepared to compromise,” explained Finch.
Professor Finch believes the $2.9 million marketing campaign is just p.r. to make up for the essay scandal. Warning against an over reliance on financial advantages if we want young workers.
“That’s why we have to work on diversifying the economy because we know three-quarters of this demographic does not want to work in oil and gas.”
