A new report finds that rental prices throughout Canada have observed the most significant month-about-thirty day period boost in years — and Vancouver continues to see the greatest rent in the place.
Online condominium rental system Rentals.ca has introduced its June 2022 Countrywide Lease Rankings report, which analyzes the common rental costs for its listings in May perhaps.
Throughout Canada, the average hire for apartments in Could was $1,888, which represents a 12 months-above-year maximize of 10.5 per cent.
“This also represents a month-in excess of-thirty day period maximize of 3.7 [per cent], the biggest monthly boost due to the fact Could of 2019,” note the report authors.
Vancouver carries on to see the maximum rental price ranges in Canada, for each a single and two-bed room units. The ordinary expense of a one-bed room apartment in May well 2022 was $2,377, which is a 1.8 for each cent raise in excess of very last thirty day period and a whopping 19.1 for every cent yr-above-calendar year maximize.
Two-bedroom apartments price tag an average of $3,495 in Might, marking an maximize of 5.1 for each cent above last month and a staggering 24.1 for each cent enhance yr-about-12 months.
Toronto has the next-greatest rental charges in the state, with just one-bed room models averaging $2,133 in May perhaps two-bed room units averaged $3,002.
An additional B.C. city, Burnaby, rounded up the prime 3 most costly towns in Canada. 1-bed room apartments price tag $2,012 whilst two-bedroom models expense $2,645 in Could.
Two Ontarian metropolitan areas concluded the top five best Canadian rental markets in May possibly: Oakville and Burlington.
Rent Vancouver and past: Common selling prices across Canada for apartments to lease