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.
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