The rental market, similar to the real estate market, has seasonality which is reflected in the December 2020 rental stats.
Hamilton's 1 bedroom rents showed the 2nd highest increase nation ride this month and moved up 3 spots to rank in the top 10 as 8th with one-bedroom rent climbing 4.5% to $1,400.
Here is how December shaped up:
Hamilton:
Average 1 Bedroom rent is $1,400. Up 4.5% MoM and up 8.5% YoY
Average 2 Bedroom rent is $1,690. Up 1.2% Mom and up 9% YoY
St. Catharines:
Average 1 Bedroom rent is $1,300. Flat at 0% MoM and flat 1.6% YoY
Average 2 Bedroom rent is $1,510. Down 0.7% Mom and flat 1.3% YoY
Toronto
Average 1 Bedroom Rent is $1,830. Down -3.7% MoM and down -20.4% YoY
Average 2 Bedroom Rent is $2,470. Down -2.4% MoM and down -16.3% YoY
Have questions about what the current rental rates where you are? We are happy to help!