It’s no secret that Vancouver’s housing market is off the charts, but it seems rentals aren’t any better. A new report from Padmapper.com shows the city’s rentals are the most expensive in the nation.
The median price for a two bedroom suite in May was a whopping $2,780, while a one bedroom was $1,700.
Incredibly, according the report, despite Vancouver’s top ranking, rents actually went down for the month of May by 2.3% for a one bedroom and o.7% for a two bedroom.
Trailing behind Vancouver is Toronto, where one bedrooms hover around $1,300, and two bedrooms are $1,650. Toronto was also down 1.2% for two bedroom units, but up 1.5% for one bedrooms.
For perspective, that’s an $1,100 difference between Vancouver and Toronto for a two bedroom.
Padmapper says they analyzed data from “hundreds of thousands” of active listings across Canada to determine their figures, and provided data for the nation’s 25 most populated cities.
Here’s Canada’s top 10 most expensive cities for rentals:
- Vancouver: $1,700 for one bedroom, $2,780 for two bedrooms
- Toronto: $1,320 for one bedroom, $1,650 for two bedrooms
- Victoria: $1,100 for one bedroom, $1,400 for two bedrooms
- Calgary: $1,070 for one bedroom, $1,300 for two bedrooms
- Ottawa: $1,010 for one bedroom, $1,300 for two bedrooms
- Edmonton: $980 for one bedroom, $1,230 for two bedrooms
- Regina: $960 for one bedroom, $1,180 for two bedrooms
- Montreal: $950 for one bedroom, $1,200 for two bedrooms
- Kingston: $930 for one bedroom, $1,100 for two bedrooms
- St. Catherines: $910 for one bedroom, $1,130 for two bedrooms