Rents dropping but students still struggling to get by

Rents continue to come down in Lethbridge and across Alberta, but many students are still struggling to afford housing and school.

Lethbridge is still one of the most affordable cities in Canada for renters.

One-bedroom accommodations cost $1,336 per month compared to the national average of more than $1,800.

“We are continuing to see rents across Canada come down. Lethbridge is no exception there,” said Giacomo Ladas with Rentals.ca.

But two-bedroom rents have risen 6.3 per cent year-over-year to $1,621.

Many university students coming to Lethbridge this fall will be stuck paying those higher rents.

“Right now, we’re seeing a lot of students working multiple jobs just to afford rent, and it’s taking a real toll on their academic performance here. So, we’re really taking it seriously,” said Bradley Pike, the University of Lethbridge Students’ Union’s vice-president external.

Supports are available to students who need it.

Emergency bursaries are available through the U of L Students’ Union.

But there’s no specific rent supports or subsidies.

“Currently, there’s nothing supported by the university in particular to subsidizing rent, but we do have the emergency grants for the times that students are facing significant financial challenges,” Pike said.

Renters could be in for a bit of a break later this fall.

After the summer rental peak, rents are expected to drop further.

But most post-secondary students likely already have their apartments locked in.

“If we’re developing a property, we don’t want it ready for the middle of February,” Ladas said.

“As we know, Canada has sometimes too long of a winter. So, a lot of the supply comes in around June, July. … Your developers—their goal is to have them ready for that time.

“And then, of course, that matches really well with the demand of renters.”

Alberta saw its average rent drop 4.4 per cent year-over-year to $1,738.