REPORT: AVERAGE MONTHLY RENTS IN CANADA TOP $2K FOR FIRST TIME

Dec 14, 2022

By Bob Komsic

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The average monthly cost of renting a home in Canada exceeded $2,000 for the first time last month.
That according to a report by rental search site Rentals.ca and Urbanation; a real estate research company.
It shows renters are paying an average of $2,024 each month; that includes all types of housing from bachelor apartments to detached homes.
That’s an increase of 12.4% over November 2021 and nearly double the national inflation rate of 6.9%.
The costs of one and two-bedroom units were highest in Vancouver at $2,633 a-month and $3,598 per-month.
Toronto had the second highest rents.
The average price of a one-bedroom has risen 23% in the last year to $2,532 a-month.
A two-bedroom will cost an average of $3,347. 
Elsewhere in the GTA, rent jumped 28% in Brampton year-over-year, while in Mississauga it climbed 19.2%.
Of the 20 Canadian cities with the most expensive average rents, all but one – Halifax – were in B.C. and Ontario.
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