Rentals are heating up across the country.
The latest rental report by Padmapper shows the steady rise in rental costs, especially in Canada’s largest cities.
For one bedroom median rent, 13 cities have growing prices while 8 have decreasing prices, according to the report, which was released today.
Not surprising, Vancouver and Toronto are on the top of the list, having the most expensive rentals in Canada, even though Vancouver’s month to month rental did not change since February.
In Toronto, on the other hand, one and two bedroom units experienced a 4.9% increase.
Vancouver’s one bedroom is averaging at $1900, while Toronto’s comes in slightly lower at $1700.
Following the two big cities in the top 5, Victoria, BC, is in third place where a one bedroom rental is $1250, just slightly higher than Montreal, which sits in fourth place at $1210.
Probably the most surprising is Barrie, ON, which finds its way into the top five due to a spike in one bedroom rentals. It even beat Calgary, which came in at seventh.
Meanwhile, here’s a list of rental costs across the country.
Anyone else suddenly want to move to Saguenay, QC? Anyone? Bueller?
- Average cost of renting an apartment in major cities across Canada (INFOGRAPHIC)
- This is what average apartment rental costs are in Toronto today
- An average 1-bedroom apartment in Vancouver now costs $1,900/month to rent