Montréal 4th most expensive city to rent – Overall, 17 Canadian cities saw an upward trend, 4 downward, and 3 remained flat last month. Burnaby took the largest rental dip, down 4.2%, while Montréal saw the largest monthly rental growth rate in the country with a 5.2% increase. The top 10 cities stayed relatively stable with the biggest changes at the bottom. Calgary and Oshawa both climbed into the top 10, tied for 9th, and kicked out Kingston and Hamilton.
Top 5 Most Expensive Markets
- Toronto, ON, holding on steadily as the priciest city in the nation, saw one bedroom rent climb 1.4% to $2,230, while two bedrooms had more modest growth, up 0.4% to $2,830.
- Vancouver, BC remained 2nd with one bedroom rent growing 2.4% to $2,100, while two bedrooms increased 3.1% to $3,330.
- Burnaby, BC one bedroom rent dropped 4.2%, which was the largest monthly rental decrease in the country, to $1,580, while two bedrooms increased 1.8% to $2,300.
- Montréal, QC was 4th with one bedroom rent jumping 5.2%, which was the largest monthly rental growth in the nation, to $1,410, while two bedrooms climbed 4.8% to $1,730.
- Barrie, ON saw one bedroom rent grow 4.6% to $1,360, while two bedrooms dropped 4.5% to $1,480.
–Calgary, AB moved up 4 spots, and into the top 10, to rank as the 9th most expensive city. One bedroom rent jumped 4.5% to $1,150, while two bedrooms grew 4.3% to $1,450.
–Halifax, NS one bedroom rent climbed 5%, settling at $1,050, and up one spot to become 14th. Two bedroom rent increased a slight 0.7% to $1,350.
–Québec, QC rose 1 ranking to become the 20th priciest city with one bedroom rent growing 4.7% to $900.
–Kingston, ON one bedroom rent fell 1 spot to rank as 11th with one bedroom rent dropping 0.9% to $1,130.
–Hamilton, ON took a 3 ranking dip to 12th with one bedroom rent decreasing 3.5% to $1,110.
–Edmonton, AB dropped 2 spots to become 21st with one and two bedroom prices settling at $890 and $1,180, respectively.
Montréal 4th most expensive city to rent