01- Downtown

Downtown Edmonton has seen an increase in availability and some decreases in rental prices. With the largest decrease in townhouse rental prices - down some 20% in just one year - downtown Edmonton is becoming an interesting possibility for renters who want space and want to avoid the morning commute without breaking the bank. With high vacancies - an 11% Row Vacancy rate - come lower prices, which means the downtown Edmonton location is highly accessible to just about anyone who's interested in finding a premier location. With average rents around $900-$1,000, prices remain reasonable for the downtown Edmonton location. As an investor, the downtown sector may be favourable in the future due to the potential new arena and the McEwan expansions, however, expect to say potential vacancies or lower rents in the near future.

02 Hudson Bay Reserve

This area north of downtown also sees the highest amount of vacancies overall in the Edmonton city area at 7.2% - an increase of 3.7% since 2008. With a high availability rate (18%), the Hudson Bay Reserve has no shortage of space available to interested parties. This corresponds with low prices designed to entice new tenants to coming to the Hudson Bay Reserve: an average rental price of $785 monthly is far below the average rental rate in downtown Edmonton and indicates a level of interest that has been waning. For an investor, this location can boast extremely affordable real estate prices, meaning it is easier to get in the investment game. It is an area that is on the mend of getting improved by the city – so again, it may be a good place to purchase for a long term investment.

03 University

So many people want to live close to the campus at the University of Alberta that the University area has the lowest vacancy rate in the Edmonton city area at just 2%. This corresponds with a low availability rate - just 3.3%, far below the Hudson Bay Reserve - but, despite this high demand, the University area still saw a decrease in prices. An average price decline of $33 for monthly rental occurred with the expansion of available housing in the University area, as approximately 229 additional units were recently added to the market. With a 0% townhouse vacancy rate, it's apparent that the University area can be one of the hardest to find space in in the Edmonton area. Great place to invest, however Real Estate sales prices reflect this as well. If you can find a deal or can afford to invest in this area – it is a great option.

04 West Central

With a vacancy rate of 5.1% in 2009 - an increase from the previous year - West Central Edmonton is slightly above the overall average vacancy rate for the Edmonton area. West Central's close proximity to the Hudson Bay Reserve (at an over 7% vacancy rate), however, suggests that this is not totally an under-performance for the area. Prime Edmonton location coupled with a fairly sizable vacancy rate make West Central an intriguing prospect for any renter or investor, but with the caveat that you won't always know what to expect. For investors, this area is a good place to choose as real estate prices make it easier for investors, with large or small budgets to potentially invest.

05 Jasper Place

With a 5.7% vacancy rate - higher than West Central and higher than other neighboring districts - Jasper Place also has an availability that makes it a must-consider for Edmonton renters and investors. A high row vacancy rate (6.9%; highest in the city) suggest that there are a lot of available spaces in Jasper Place, which still has a close proximity to downtown Edmonton and a southern border on the river. Jasper Place is also seeing increases in private apartment availabilities, including increases in 2009 for one-bedroom and two-bedroom apartment availability rates.

06 West Jasper Place

The highest overall rental rate ($1,011) in West Jasper Place implies high property values for what might be called the greater west area of the city of Edmonton. Close proximity to Jasper Place means there's not an immediate, clear difference to the two areas, but West Jasper Place's large geography implies a lot of rental diversity. Vacancies were up in West Jasper Place but only to 4.4%, lower than much of the core Edmonton's vacancy rates. This is about par for the course when it comes to outer Edmonton, with a vacancy rate similar to Northeast Edmonton. Look out for great opportunities.

07 Southwest

One of the big stories for Southwest Edmonton was the decline in rental prices, something that any renter would want to be aware of - an average of $33/month fall for the area. With a vacancy rate of 3%, Southwest's potential renters might have more trouble finding available space. Look for shifts in this area in the future, as the basic laws of supply and demand suggest that a low vacancy rate and declining rental prices can't be the case forever. Southwest's proximity to the river is always a geographical feature to be aware of and with the LRT expansion, as well as the new Soutgate mall it may be an ideal place to invest in.

08 East Central

Over on the east side of Edmonton, East Central (a 5.9% vacancy rate) directly borders downtown Edmonton and has a lot of access to the river. Overall rental rates have increased into the $900 range, with increases in rental prices for the studio, 1-and-2-bedroom apartments. If this trend continues, this may suggest that some areas of East Central might be on the up-and-coming radar in the Edmonton area: renters who are searching for a bargain might consider East Central and try to lock in a good price before prices continue to rise. With a flexible vacancy rate, it's entirely possible that this trend continues, especially near the downtown area. With vacancy rates up – this may be considered a valuable place to invest.

09 Millwoods

Located in southeast Edmonton, Millwoods' 4.2% vacancy rate is not unusual for the areas on the outskirts of town. A boom in vacancies in single-bedroom apartments (in October '09, th vacancy of 5.8% was over double what it had been in October '08) is not an isolated trend: people seem to be moving out of the area. Overall, private apartment vacancy rates also more-than-doubled, going from 1.9% to 4.2% in the span of just one year. With rental prices remaining relatively stable (only a $6 decrease over the year), it may still be a good place to invest in.

10 North Central

With one of the lowest rentals - an average of $785 per month in the North Central district - is North Central Edmonton really a bargain? In terms of location, it's hard to beat - just north of downtown Edmonton and the Hudson Bay Reserve. A 4.8% vacancy rate is nothing out of the ordinary, although erratic statistics on private apartment vacancy rates (people moved in to studios while they moved out of one-and-two-bedroom apartments) suggests that renters are still skittish about the area. Overall, townhouse vacancy rates stayed at 5.3% over a year's time, with the year ending in October of 2009. North Central is definitely a renter's area to watch. For investors, deals can be found here – especially for newer investors.

11 Northeast

With an increased vacancy rate at 6.5% and the highest availability rate of 7.1%, renters are staying out of Northeast Edmonton. The leap in availability for private apartments from 4.1% to 7.1% suggests a big trend of people moving out of Northeast Edmonton - do the prices reflect the dropping demand? Indeed: the average monthly rent price dropped from $956 to $925 in just one year's time. In the future, Northeast Edmonton may bottom out on prices and become a bargain for the truly thrift renter, but property values are something to watch. With a decrease in townhouse availability rates in the same time span, there may be some renters who know something you don't know. For current investing, Northeast may not be the ideal location – however keep in mind that what goes down will eventually come up – so deals may be found now.

12 Castledowns

In far north Edmonton, Castledowns' 4.4% vacancy rate echoes that of West Jasper Place. Enacting a gravitational pull on that vacancy rate - downward - is the private row (townhouse) vacancy rate in Castledowns, a mere 2.3%, only a slight increase over October 2008's rate of 1.9%. Private apartment availability rates, at 5.9%, suggest that there is some potential in looking into the Castledowns area for would-be renters. Average rents in Castledowns - for private apartments - fell $22 down to $956/month. When looking at Castledowns, no one statistic in particular seems to grab you, although there are cheap rents available for bachelor apartments. Castledowns is a great place to invest – you will be able to find relatively good deals here and reasonable prices to buy.

13 St. Albert

With vacancies seeming to fall in St. Albert year after year (they're down to 2.3%), the second-lowest vacancy rate and the second-lowest availability rate - not to mention the highest overall rent prices - St. Albert looks like the hottest ticket in town. Townhouses have reflected the trends with low vacancies (just 1.2%) and the largest rental increase average for townhouses. The statistics all seem to confirm St. Albert as a desirable place to live as long as you have the money to afford a decent chunk of change in rent. If you can afford to buy and rent in St. Albert, I would recommend taking a look to see what is on the  St. Albert Real Estate marktet there.