The average cost of rent in Canadian cities in August

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As we move into mid-August, Zumper reports that Toronto has reclaimed its ranking as the second most expensive rental city in Canada, after Vancouver.

The apartment rental website says it has analyzed hundreds of thousands of listings to examine median rent prices in the past 24 cities across Canada.

Overall, eight cities saw an upward trend in rents last month, ten markets fell and six remained stable.

Kelowna had the highest monthly rental growth rate, jumping 5.3%, and Barrie had the biggest decline, dropping 5.2%.

Burnaby and Barrie both fell 3rd and 5th respectively. In the remainder of the top 10 markets, St. Catharines moved up three spots and into the top 10 to rank ninth, while Hamilton moved out of the top 10.

Here is how other monthly rental prices are evolving in Canada.

Top 5 Most Expensive Markets in Canada

Vancouver, British Columbia remained the most expensive city with rent for one bedroom at $ 2,000, while rent for two bedrooms rose 2.1% to $ 2,860.

Toronto, Ont. Edged up two spots to regain its position as the second-most expensive market with one-bedroom rent up 4.7% to $ 1,790. Both houses saw “more moderate growth,” according to Zumper, climbing 2.3% to $ 2,250.

Burnaby, BC, fell to third place, although rent for a room rose 1.1% to $ 1,770. The two chambers, meanwhile, rose 3.9% to $ 2,370.

Victoria, BC, climbed one spot to rank 4th for most expensive rents with one and two bedroom rents median at $ 1,660 and $ 2,020, respectively.

Barrie, Ont., Dropped two spots to 5th place, as one-bedroom rent fell 5.2% to $ 1,650, while two-bedroom apartments fell 3.6% to $ 1,850.

Zumper

British Columbia and Ontario are everywhere in the top 10 most expensive markets in the country. Cities in British Columbia represent 40% of the 10 most expensive rental cities in Canada, and Ontario, 60%.

Quebec City remained the cheapest rental city in the country, with rent for a bedroom averaging $ 820 and two-bedroom renting an average of $ 1,040.

Zumper


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