I recently tracked down stats for the average cost of a 1-bedroom apartment in 6 Alberta cities: Calgary, Edmonton, Grande Prairie, Lethbridge, Lloydminster, and Red Deer.
|1 bedroom rent||Avg monthly wage||Median monthly wage||Rent as % of avg wage|
Rent in Lethbridge is the second lowest of the 6 cities, at $923 per month.
I also happen to have income stats for those 6 cities. Lethbridge has the lowest average monthly wage of the 6 cities, at $3,733.75.
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When we compare the cost of rent to the average monthly wage, it gives us an even starker story. Lethbridge renters pay the highest portion of their monthly income to rent, at nearly 25%.
Edmonton and Red Deer are tied for the second highest at 22.2%. Calgary is in third at 21.9%, Grande Prairie is in fourth at 20.96%, and Lloydminster is the lowest at 16.87%.
Keep in mind that this is based on 1-bedroom apartments, so larger housing would, of course, be more expensive. Also, keep in mind that this is average wages, which includes people who make, say, hundreds of thousands of dollars a year.
Regardless, the data once again shows that it’s expensive to live in Lethbridge.