The cost of living in Canada continues to climb.
According to the latest report from Padmapper, rental costs tend to be highest in Canada’s largest cities and – with few exceptions – are only getting more expensive.
The top five most expensive rental markets in Canada hold steady from last month with Vancouver at the top of the list with the median price for a one bedroom apartment a steep $1,900.
Toronto comes in number two with the cost of a one bedroom unit rising 4.9% to $1,780. Meanwhile, Victoria ranks as the third most expensive city in Canada to rent an apartment as it saw the cost of a one bedroom jump 4.8% to $1,310.
Montreal, in fourth place, actually saw a slight (0.8%) decrease in the cost of a one bedroom apartment, slipping down to $1,200 per month. Rounding out the top five is Barrie, Ontario where the median price for a one bedroom apartment rose 4.5% to $1,150 after a month of significant growth.
Perhaps most striking on this list is how rental prices in Calgary continue a slow slide in the national standings. The city was once a mainstay among the top five most expensive cities on Paddmappers’ monthly study but has been outpaced by other cities despite a 1% rise in rent that brings the median for a one bedroom up to $1,020.
All that said, moving to Quebec is starting to look like a better and better idea these days.
- Toronto housing prices continue climbing, while overall national home sales decrease
- Ontario Liberals reject NDP's rent control bill
- Report: Toronto rental market growth is down in first quarter of 2017