Medicine Hat remains one of Canada’s most affordable urban rental markets

Medicine Hat continues to rank among the most affordable urban rental markets in Canada, while also seeing some of the country’s strongest recent rent growth.

According to the latest Rentals.ca and Urbanation rent report, the average asking rent for purpose-built and condominium apartments in Medicine Hat was $1,337 in July, making it the second-lowest among major Canadian markets behind Fort McMurray.

The report found asking rents in Medicine Hat increased 2.9 per cent compared with July 2025, placing the city among the fastest-growing rental markets outside Canada’s largest urban centres.

Nationally, rental prices showed signs of stabilizing after nearly two years of declines. The average asking rent for all property types in Canada was $2,037 in July, down four per cent year-over-year but up 0.2 per cent from June.