British Columbia and Ontario continue to be the most expensive provinces to rent a room or rooms in Canada.
The two provinces lead the list when it comes to the 10 most expensive rental markets.
Vancouver and Toronto remain the most expensive rental markets in Canada, however, both cities have seen prices drop significantly since the same period last year.
Alberta’s major cities managed to avoid the top ten, with Calgary and Edmonton ranking 17th and 20th respectively, both down several places from the same period last year.
In Calgary, one-bedroom units cost an average of $ 1,100 per month, while in Edmonton, the average cost of a one-bedroom house is $ 900.
On the East Coast, Halifax leads the way at # 13 with one-bedroom units at $ 1,270 and two-bedroom units at $ 1,670.
Overall, 16 cities saw rental prices rise, while three remained stable and five others saw rates falling.
Montreal climbed back into the top 10 to 9th place with one bedroom rent rising to $ 1,390, perhaps signaling a comeback for expensive markets.
“This change could signal the start of the 2020 rental market trend reversal. More and more Canadians may be considering re-entering expensive markets, either to take advantage of low prices or to return to what they were.” before the pandemic as more vaccines become available, which would increase prices after a year of historic decline, âthe Padmapper report said.
“As we head into the warm moving season of the summer and fall months, expensive markets in particular are likely to see rental price growth as demand is likely to pick up.”
To read the full report, click here.
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