Medicine Hat housing market
Key indicators
Average rent, 2-bedroom
$1,217
+5.1% vs prior year
October 2025 survey · CMHC
Purpose-built rentals (row and apartment, 3+ units); annual October survey.
Population
82,880persons
+1.0% vs one year earlier
July 1, 2025 · Statistics Canada
Analysis
Medicine Hat housing market analysis
Population and housing need
Medicine Hat's population was estimated at 82,880 (July 1, 2025), growing 1.0% over the year.
Rental market
The average two-bedroom rent across all purpose-built units was $1,217 a month, up 5.1% year over year.
Borrowing costs
Borrowers who took out a new uninsured mortgage in Aug 2026 paid an average of 4.58% on fixed terms of five years or more and 3.90% on variable rates, according to the Bank of Canada. The five-year-plus fixed average is up 0.3 percentage points from a year earlier.
Variable rates sit 0.68 points below long fixed terms, so borrowers are paying a premium for payment certainty.
The Bank of Canada's policy rate is 2.50% and the banks' prime rate is 4.70%. Variable-rate mortgages are priced off prime, so they move when the policy rate changes; fixed rates follow Government of Canada bond yields, with the 5-year yield at 3.46%.
Written from the latest official figures and refreshed whenever new data are released. It describes current conditions; it is not a forecast.
Trends
2006 to 2025. Latest: 1,217 (October 2025 survey).