Asking rents for all residential property types in Canada averaged $2,152 in October, marking a 1.2% annual decrease, according to the latest National Rent Report conducted by Rentals.ca and Urbanation. October marked the first year-over-year decline in rents since July 2021, according to the report. In October, Rentals.ca and Urbanation said the average rent for a one-bedroom residence in Canada was $1,866 — a 1% monthly decrease and a 0.1% annual decrease. They found the city with the most expensive average rent for a one bedroom was Vancouver ($2,610). Burnaby, BC, came in second place ($2,398). After Burnaby was Toronto ($2,380); Mississauga, ON ($2,308); and Oakville, ON ($2,304). The city with the cheapest average rent for a one bedroom was Fort McMurray, AB ($1,218). The city with the largest monthly price increase for one bedrooms was Laval, QC (3.2%). However, the city with the largest monthly price decrease was Quebec City (-3.9%). Saskatoon had the largest annual price increase for them (16.6%). Burnaby had the largest annual price decrease for them (-9.4%). Rentals.ca and Urbanation went on to say the average rent for a two bedroom residence in Canada was $2,287 — a 1% monthly decrease and a 0.6% annual decrease. They added the city it cost the most to rent a two bedroom was Vancouver ($3,430). After Vancouver was Toronto ($3,091). This was followed by Burnaby ($3,062), Victoria ($2,866), and Oakville ($2,858). The city with the cheapest average rent for a two-bedroom residence was Fort McMurray ($1,404). The city with the largest monthly price increase for two bedrooms was North York (3.2%). Meanwhile, the city with the largest monthly price decrease was Regina (-4.7%). Gatineau had the largest annual price gain for them (18%). Oakville had the steepest yearly price drop (-14.4%). British Columbia was the province with the most expensive average rent across apartment and condo unit types ($2,549). Ontario finished in second place ($2,350). Atlantic Canada came third ($2,184), Quebec was fourth ($1,966), and Alberta was fifth ($1,786). Saskatchewan had the cheapest rent among all provinces ($1,358). Asking rents for all residential property types in Canada reached $2,193 in September, increasing by 2.1% year over year, according to the National Rent Report published by Rentals.ca and Urbanation on October 9..Report finds average rent in Canada reaches $2,193 .They said this represented the smallest year-over-year increase since October 2021. In September, they said the average rent for a one-bedroom residence in Canada was $1,886 per month — a 0.2% monthly increase and a 1.4% yearly increase. They found the city with the highest average price for a one-bedroom residence was Vancouver at $2,649. The data used in this analysis was based on monthly listings from Rentals.ca’s Internet Listings Services. This data differs from the numbers collected and published by the Canada Mortgage and Housing Corporation.
Asking rents for all residential property types in Canada averaged $2,152 in October, marking a 1.2% annual decrease, according to the latest National Rent Report conducted by Rentals.ca and Urbanation. October marked the first year-over-year decline in rents since July 2021, according to the report. In October, Rentals.ca and Urbanation said the average rent for a one-bedroom residence in Canada was $1,866 — a 1% monthly decrease and a 0.1% annual decrease. They found the city with the most expensive average rent for a one bedroom was Vancouver ($2,610). Burnaby, BC, came in second place ($2,398). After Burnaby was Toronto ($2,380); Mississauga, ON ($2,308); and Oakville, ON ($2,304). The city with the cheapest average rent for a one bedroom was Fort McMurray, AB ($1,218). The city with the largest monthly price increase for one bedrooms was Laval, QC (3.2%). However, the city with the largest monthly price decrease was Quebec City (-3.9%). Saskatoon had the largest annual price increase for them (16.6%). Burnaby had the largest annual price decrease for them (-9.4%). Rentals.ca and Urbanation went on to say the average rent for a two bedroom residence in Canada was $2,287 — a 1% monthly decrease and a 0.6% annual decrease. They added the city it cost the most to rent a two bedroom was Vancouver ($3,430). After Vancouver was Toronto ($3,091). This was followed by Burnaby ($3,062), Victoria ($2,866), and Oakville ($2,858). The city with the cheapest average rent for a two-bedroom residence was Fort McMurray ($1,404). The city with the largest monthly price increase for two bedrooms was North York (3.2%). Meanwhile, the city with the largest monthly price decrease was Regina (-4.7%). Gatineau had the largest annual price gain for them (18%). Oakville had the steepest yearly price drop (-14.4%). British Columbia was the province with the most expensive average rent across apartment and condo unit types ($2,549). Ontario finished in second place ($2,350). Atlantic Canada came third ($2,184), Quebec was fourth ($1,966), and Alberta was fifth ($1,786). Saskatchewan had the cheapest rent among all provinces ($1,358). Asking rents for all residential property types in Canada reached $2,193 in September, increasing by 2.1% year over year, according to the National Rent Report published by Rentals.ca and Urbanation on October 9..Report finds average rent in Canada reaches $2,193 .They said this represented the smallest year-over-year increase since October 2021. In September, they said the average rent for a one-bedroom residence in Canada was $1,886 per month — a 0.2% monthly increase and a 1.4% yearly increase. They found the city with the highest average price for a one-bedroom residence was Vancouver at $2,649. The data used in this analysis was based on monthly listings from Rentals.ca’s Internet Listings Services. This data differs from the numbers collected and published by the Canada Mortgage and Housing Corporation.
