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Real Estate, Urbanized, News

The average cost of rent in Canadian cities for January 2019 (MAP)

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Daily Hive Staff Jan 15, 2019 1:57 pm 176

If you have hope the New Year is bringing new (and cheaper) rental prices across Canada, you’ll want to think again.

This month, according to Padmapper, eight Canadian cities saw an upward trend in rental prices, seven decreased, and nine remained flat.

The top five priciest markets in Canada remained, nearly unchanged from last month.

cost of rent

Cost of Rent January/ Padmapper

Once again, Toronto took the top spot for the most expensive rent in the country. This month, prices remained flat at $2,260 and $2,850 for one bedroom and two bedroom rent, respectively.

Vancouver, BC, had the second most expensive rent in Canada. One bedroom prices increased 1.4% to $2,130 and two bedrooms were up 2.5% to $3,230.

Burnaby, BC, stayed put as the third priciest city in Canada. One bedroom rates were flat at $1,570 and two bedrooms increased 1.3% to $2,290.

In fourth place, Montreal’s one-bedroom rent grew 3.4% to $1,500 and two bedrooms remained flat at $1,780.

Victoria, BC, remained in fifth place with one bedroom rent increasing 3.1% to $1,350. Two bedrooms dropped 2.8% to $1,400.

This month, St. Catharines, Ontario, saw the largest monthly one bedroom rental growth rate in the country, increasing 5.3% to $1,200. Two bedrooms stayed steady at $1,410.

The battle for the cheapest one-bedroom rent in the country once again goes to Windsor, Ontario, where you can you can rent a single-room suite for a cool $730 per month.

And if you’re interested in a two-bedroom place, head to St. John’s, Newfoundland, where prices are as low as $890.

cost of rent

Cost of rent January/ Padmapper

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Daily Hive Staff
Launched on June 1, 2016, Daily Hive is the evolution of Vancity Buzz and is now in Vancouver, Calgary, Toronto, and Montreal.

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