As we near the halfway point of the first month of 2021, PadMapper is reporting the monthly average of rent across Canada.
According to the website’s latest report, the gap between rents in the country’s two most expensive markets is just over $100.
Ontario and British Columbia are the only provinces scattered across the country’s most expensive markets, with six places in Ontario and four in BC.
Montreal is tied with Kitchener for the last spot.
Overall, 11 cities had a downward monthly rent change from December to January. Six trended upwards and seven remained flat.
“The winter months tend to be the slow-moving season of the year, as not many renters are moving during the holidays,” says PadMapper. “That trend is reflected in how the markets performed in this report, with nearly half of the cities experiencing falling rents.”
At the top, Vancouver continued to reign as the priciest rental city in the country, just ahead of Toronto. While Vancouver one-bedroom rent stayed flat last month, Toronto rent actually dropped another 3.7%, widening the price gap between these two cities to $130. Toronto one-bedroom rent also had the largest year-over-year dip in the nation, down over 20%.
Burnaby and Victoria, BC, took home the third and fourth spots, respectively, and Barrie rounded out the top five.
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Abbotsford, BC, along with Hamilton and London, Ontario, were the cities with the largest monthly changes, and Montreal, Quebec City, Oshawa, and Halifax dealt with the nation’s biggest drops since last month.
The cheapest rent in Canada this month can be found in St. John’s, Newfoundland, where a one-bedroom rental costs a cool $840 with two-bedrooms going for an average of $900.