Average rents in Canada up as much as 26.5%

rents in Canada

The national average rent for all property types on Rentals.ca increased 11.1 per cent year over year in August and rose 16.8 per cent since the recent low of $1,676 per month in April of last year. The average listing on Rentals.ca is nearly $200 more expensive than a year ago.

Average rent increased more than 20 per cent year over year in August in five Canadian cities for condominium rentals and apartments:

  • London, up 26.5 per cent to $1,979
  • Calgary, up 24.7 per cent to $1,751
  • Vancouver, up 24.4 per cent to $3,184
  • Toronto, up 24.2 per cent to $2,694
  • Hamilton, up 21 per cent to $1,961
  • Montreal came in 26th for average monthly rent in August for a one-bedroom home at $1,524 and 24th for average monthly rent for a two-bedroom at $1,943. 

Year over year, average monthly rent in August for a one-bedroom in Montreal was up 4.3 per cent and up 2.3 per cent for a two-bedroom. 

Saint Laurent finished 27th on the list for average monthly rent in August for a one-bedroom home at $1,393 and 26th for average monthly rent for a two-bedroom at $1,857. 

Year over year, average monthly rent in August for a one-bedroom in Saint Laurent was down 2.4 per cent and down 4.5 per cent for a two-bedroom.

Laval came in 28th on the list of 35 cities for average monthly rent in August for a one-bedroom home at $1,301 and for average monthly rent for a two-bedroom at $1,815. 

Year over year, average monthly rent in August for a one-bedroom in Laval was down 4.7 per cent but up 9.9 per cent for a two-bedroom.

Average monthly rent in Montreal in August for condominium rentals and apartments rose 5 per cent year year over year to $1,737, and average rent in Laval for condo rentals and apartments in August was up 9.2 per cent annually to $1,638.

Average rents for condo rentals increased year over year in August in Montreal, up $242 to $1,947 from $1,705 in August 2021.

Provincially, Quebec average rents for all property types were up 6.3 per cent year over year in August to. $1,732.

The National Rent Report charts and analyzes monthly, quarterly and annual rates and trends in the rental market on a national, provincial, and municipal level across all listings on Rentals.ca for 35 cities across Canada. 

Other articles from mtltimes.ca – totimes.ca – otttimes.ca

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