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Real Estate, Development, Urbanized, News

The average cost of rent in Canadian cities for August 2018 (MAP)

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Daily Hive Staff Aug 15, 2018 1:06 pm 6,158

Summer is flying by but the cost of rent across Canada continues to heat up.

This month, according to Padmapper, 13 cities saw an upward trend in the average cost of rent this month, while 8 decreased, and 5 remained flat.

This month, Toronto took the top spot for the most expensive rent in the country.

cost of rent

Padmapper

In August, the cost of one-bedroom suites in Toronto increased 2.9% to $2,140, while two bedrooms stayed stable at $2,800.

Vancouver remained the second most expensive city with one and two-bedroom sitting at $2,000 and $3,200, respectively.

Burnaby, BC, remained in third place as one-bedrooms shot up 4.7% to 1,570. Two-bedrooms increased slightly by 0.4% to $2,270.

Back in Ontario, the average cost of rent in Barrie stayed in fourth place. One bedroom prices stayed flat at $1,350 and two-bedrooms dropped 5% to $1,500.

And, once again, the fifth most expensive city this month is Montreal, which saw a slight growth in one-bedroom properties by 0.8%, while two-bedrooms jumped 4.9% to $1,700.

The largest monthly growth rate in the nation took place in Oshawa, Ontario, as one-bedroom rent grew 4.5% to $1,150 and two-bedrooms jumped 4% to $1,300.

This month, the battle for the cheapest rent is tied for Saguenay, Quebec, and Windsor, Ontario, where you can rent a one-bedroom suite for just $710. Almost sounds too good to be true, doesn’t it?

cost of rent

Padmapper

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Daily Hive Staff
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