![]() “Despite rental apartment completions in Canada over the past 12 months reaching their highest level since the 1970s, rent growth has remained exceptionally strong. “Over the last three-month period between May and August, asking rents in Canada have increased by 5.1%, or by an average of $103 per month,” the report states. While that may sound pricey to many, it's still cheaper than Vancouver, where the average asking price for a roommate sits at $1,773 per month.Īccording to the report, asking rents are up by more than $100 over the past three months nationally across all housing types. In Toronto the average rate for a roommate is now $1,302 a month. In Ontario, the average asking rent for a roommate went up to $1,040 a month, up $73 from last year. Those looking for a roommate are asking more too. They rose just around 1.2 per cent across one and two-bedroom apartments in Toronto compared to July, and actually dropped about 0.9 per cent across the same housing types in Vancouver in the same period. While Toronto and Vancouver remain the most expensive markets for apartment renters, month-over-month rent increases were actually below average in the two cities in August. Nationally, Vancouver still has the highest rent, with rent for a one-bedroom sitting just under $3,000 at $2,988 and rent for a two-bedroom sitting at $3,879.Īccording to the report, rental prices in Canada are up 1.8 per cent monthly and 9.6 per cent annually, reaching a record high of $2,117 in August. Rent for a one-bedroom apartment in Mississauga is up 15.3 per cent to $2,379, while the cost of a two-bedroom apartment in the city has jumped 18.4 per cent to $2,872. The price of a two-bedroom apartment in Brampton now sits at $2,650 per month, up 25.7 per cent from a year ago. ![]() In Brampton, the price of a one-bedroom apartment has skyrocketed 29 per cent compared to last year and now sits at $2,274 per month. Rental prices have also shot up in other parts of the GTA.
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