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Real Estate, Urbanized, News

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

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Daily Hive Staff Jun 13, 2018 11:48 am 7,468

As we move into the busy summer moving months, rent costs continue to rise from coast to coast.

This month, according to Padmapper, 15 cities saw an upward trend in the average cost of rent for May, while 8 decreased, and 3 remained flat.

Once again, Vancouver and Toronto battled for the first place prize when it comes to the most expensive rent in the country.

cost of rent

Padmapper

In June, Vancouver held on to the first place position as the priciest rental city in Canada  with the cost of one-bedrooms falling 0.5% to $2,090, while two-bedrooms grew 1.6% to $3,250.

Toronto remained in second place with two-bedrooms seeing a 3% growth rate to $2,730. Padmapper notes that both 0ne and two bedroom prices in this city are up over 15% since this time last year.

Burnaby, BC, remained in third place and saw no increase in its one-bedroom rent ($1560)  but saw 1.4% growth in two-bedroom properties as rent reached $2,180 seeing a 1.4% increase.

Back in Ontario, the average cost of rent in Barrie stayed in fourth place. One-bedroom rent fell 3.6% to $1,330 —the biggest decline in the country. Two-bedrooms grew 4.7% to $1,570.

And, once again, the fifth most expensive city this month is Montreal, which saw a growth in two-bedroom properties by 1.3% to $1,540.

The largest monthly growth rate in the nation took place in Kingston, Ontario, where one-bedroom rent shot up 5.4% to $1,180.

This month, the battle for the cheapest rent went to Saguenay, Quebec, 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) $680.

cost of rent

Padmapper

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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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