Vancouver one-bedroom rent drops below Toronto for first time in nearly 2 years

Jan 16 2018, 8:30 pm

For the first time since Padmapper began keeping track in June 2016, Vancouver is not the most expensive in Canada to rent, according to their January 2018 Rent Report.

According to the apartment hunting website, the median rent for a one-bedroom place in Vancouver is now $2,000/month. That’s actually less than in Toronto, where a one-bedroom will set you back $2,020/month, according to researchers.

Meanwhile, Burnaby has been added to Padmapper’s list of cities, and comes in third place, with a one-bedroom costing $1,430/month on average.

Burnaby is followed by Montreal, where a one-bedroom will cost you on average of $1,320/month, and Barrie, ON where a one-bedroom pad costs an average of $1,260/month.

As for two-bedroom homes, Vancouver is still riding high there, with average rent setting you back $3,200/month. Toronto follows in not-so-close second place, with an average two-bedroom rent of $2,520/month. This is followed by Burnaby, with average rent of $2,150/month, while Barrie has an average rent of $1,610/month and Kelowna costs $1,600/month on average.

The cheapest place to bag a place in Canada?

Well, for a one-bedroom, look no further than Windsor, Ontario where you’ll see an average rent of just $690/month.

And for a two-bedroom, try Saguenay, Quebec, where you’ll pay an average rent of $760/month.

Top 5 most expensive one-bedroom rents in Canada

  1. Toronto $2,020
  2. Vancouver $2,000
  3. Burnaby $1,430
  4. Montreal $1,310
  5. Barrie $1,260

Top 5 most expensive two-bedroom rents in Canada

  1. Vancouver $3,200
  2. Burnaby $2,150
  3. Montreal $1,580
  4. Barrie $1,610
  5. Kelowna $1,600
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