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

Mar 15 2018, 5:11 pm

Three months into 2018, Vancouver and Toronto continue rival for first place when it comes to cost of rent.

After Toronto climbed to the top in February, March sees Vancouver reclaiming its spot as the most expensive city for rent in Canada, according to the latest rental report by PadMapper.

This month, 12 of the cities in the report saw rental increases, 8 cities experienced downward trend, while 6 stayed flat.

Vancouver dominated March’s rental prices, as one bedrooms grew 0.5% to $2,000, although two bedrooms saw a 1.6% dip down to $3,150, which is still quite pricey.

Meanwhile, last month’s champ, Toronto has become the second most expensive rental market in Canada because one bedroom prices fell by 4.4% to $1,970. Two bedrooms in the centre of the universe also saw a drop to $2,500.

Similar to February, Burnaby, BC, is in third place, with rent dropping 1.4% for a one bedroom. It’s now going for $1,420, and two bedrooms are $2,040.


Fourth and fifth place go to Montreal, and Barrie, both keeping their same placements as February.

One bedrooms in Montreal dropped 3.7% to $1,300, and two bedrooms also decreased by 4.8% to $1,580. Interesting to note that Quebec City, QC, one bedroom rental prices took the largest dip last month, falling 5.3% to $710.

And back in fifth is Barrie, ON, where one bedrooms remaining flat at $1,270 and two bedrooms decreasing 1.9% to $1,530.

Other notable changes includes the addition of Oshawa, ON, to the top 10, with one bedroom rent growing 1.9% to $1,080. It’s now tied with Calgary, which dropped two spots last month after one bedrooms fell 1.8% to $1,080.

The cheapest city in the report continues to be Windsor, although one bedrooms there have gone up $10 to sit at $710… so you never know what will happen next month.


See also