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The average cost of rent in major Canadian cities in May 2018 (MAP)

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Daily Hive Staff May 15, 2018 2:34 pm 5,934

As we near the halfway mark of 2018, rent costs continue to rise across the country.

This month, according to PadMapper, 15 cities saw an upward trend in the average cost of rent for May, while only 9 decreased and 5 stayed flat.

Like every month so far this year, Vancouver and Toronto battled for that first place prize.

In May, Vancouver beat out Toronto as the most expensive city with a nearly 5% monthly growth rate to $2,100 – only $20 more than Toronto’s rent. The good news is, two bedrooms in Vancouver stayed flat at $3,200.

PadMapper

Toronto’s one-bedroom cost increased by 2% over the past month, currently sitting at $2,080. And unlike Vancouver, two-bedrooms also saw some growth in The Six, up 1.1% to $2,650.

In third place is Burnaby, BC, which saw rent hike up 4.7% to $1,560, while two-bedrooms increased a slight 0.9% to $2,150. Notably, both bedroom types are up over 15% since this time last year.

Back in Ontario, the average cost of rent in Barrie stayed at fourth place with one-bedroom prices growing 3.8% to $1,380 and two-bedrooms dropping 5.1% to $1,500.

And the fifth most expensive city this month is Montreal which has seen one-bedroom prices increasing 0.8% to $1,290 and two-bedrooms growing 0.7% to $1,520.

The largest monthly growth rate in the nation took place in Quebec City, where one-bedrooms shot up 5.3% to $790. Two-bedrooms also jumped 5.3%, settling at $990.

This month, the battle for the cheapest rent went to Windsor, Ontario, reclaiming its previous title as the cheapest rent in the country compared to the 25 cities listed.

Rent for a one-bedroom is a cool (and slightly unbelievable) $690. 

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Daily Hive Staff
Launched on June 1, 2016, Daily Hive is the evolution of Vancity Buzz and is now in Vancouver, Calgary, Toronto, and Montreal.

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