The average cost of rent in Canadian cities for October (MAP)
Fall has officially arrived but there is definitely no cooling down when it comes to rental prices across Canada.
This month, according to Padmapper, 17 cities saw an upward trend in the average cost of rent this month, while four decreased, and three remained flat.
Once again, Toronto took the top spot for the most expensive rent in the country.
PadMapper October 2018
In October the cost of one-bedroom suites in Toronto increased 1.4% to $2,230, while two bedrooms saw a slight 0.4% increase and climbed to $2,830.
Vancouver remained the second most expensive city with one-bedroom rent rising 2.4% to $2,100 while two-bedrooms increased 3.1% to $3,330.
Burnaby, BC, stayed put as the third priciest city in Canada. However, one-bedroom rent saw the largest rental decrease in the country as prices dropped 4.2% to $1,580. Two-bedroom rent increased 1.8% to $2,300.
Montreal was in fourth place with one-bedroom rent seeing a significant 5.2% increase, which was the largest rent growth in the country for the month. Two-bedroom rent also saw a hefty 4.8% increase to $1,730.
Barrie, Ontario, rounded out the top five list as one-bedroom rent grew 4.6% to $1,360, while two-bedrooms dropped 4.5% to $1,480.
The largest monthly growth rate in the nation took place in Calgary. The city jumped four spots and broke into this month’s top 10 most expensive cities. One-bedroom rents jumped 4.5% to $1,150, and two-bedrooms increased 4.3% to $1,450.
Hamilton, Ontario, saw the largest monthly rental dip in the country with one-bedroom rates dropping 3.5% to $1,110.
The battle for the cheapest rent went to Windsor, Ontario, where you can you can rent a one-bedroom suite for a cool $740 per month.
Now that’s what we call a steal.
PadMapper October 2018