The 2 most expensive cities in Canada hit record low rents. Vancouver’s one-bedroom rent was priced at $1,900, a low it hasn’t been at since March 2017. Toronto’s one-bedroom rent was at $1,750, a low it hasn’t touched since February 2017. Meanwhile, rents in the rest of the country seem to have stabilized as the earlier pandemic months of nationwide double-digit year-over-year declines have passed and are now only concentrated in the top 2 most expensive markets.
Hamilton:
Average 1 Bedroom rent is $1,370. Up 0% MoM and up 6.2% YoY
Average 2 Bedroom rent is $1,700. Up 0% Mom and up 8.3% YoY
St. Catharines:
Average 1 Bedroom rent is $1,300. Flat at 0% MoM and flat 6.6% YoY
Average 2 Bedroom rent is $1,500. Down 0% Mom and flat 0% YoY
Toronto
Average 1 Bedroom Rent is $1,750. Down -1.1% MoM and down -21.5% YoY
Average 2 Bedroom Rent is $2,350. Down -0.4% MoM and down -18.1% YoY
Have questions about what the current rental rates where you are? We are happy to help!
Stats courtesy of Padmapper.