$3,080: Vancouver paying highest rent in Canada for two-bedroom apartment
Surprising no one, Vancouver continues to be the most expensive city to rent for one-bedroom apartments averaging $2,100, while two-bedrooms actually grew to 2.7% to $3,080.
Four out of five of the most expensive markets in Canada experienced the largest monthly growth rates in the nation since last year, with Vancouver being an exception.
The top five most expensive markets to rent in Canada are Vancouver, Toronto, Victoria, Kelowna, and Barrie.
The numbers are from the latest Zumper Canada rental report.
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Other notable points of interest in BC include Abbotsford experiencing the largest drop in rent, seeing a drop of 4.8% to $1,400 for a one-bedroom. It also dropped two spots in the overall rankings and is now the 11th priciest city.
Victoria remained the third on the list of top five most expensive markets, with one-bedroom prices jumping 4.8% to $1,760, and two-bedrooms increasing 2.2% to $2,310.
Meanwhile in Kelowna one-bedroom rents climbed 3% to $1,720, and two-bedrooms fell 1% to $2,050. Rent for both types are up around 14% compared to the same time last year.
Year-over-year Victoria experienced a jump of 15% for a two bedroom.
Looking at the rankings across Canada, 12 cities experienced an upward trend, while eight markets trended downward, and three remained flat.
BC cities made up three of the top ten most expensive locations in Canada.