Account Login/Registration

Access KelownaNow using your Facebook account, or by entering your information below.


Facebook


OR


Register

Privacy Policy

Here’s the average cost of rent in major Canadian cities for September 2020

Once again, British Columbia and Ontario are the most expensive provinces to rent a room, or rooms, in Canada.

PadMapper's national rent report shows that Montreal is the only city outside of those two provinces to crack the top 10 for the ninth straight month.

However, Canada's most expensive rental markets in Toronto and Vancouver continue to report a downward trajectory in prices.

Toronto's one and two-bedroom prices are down 10% and 12%, respectively, since this time last year.

Meanwhile, Vancouver’s one-bedroom rent has fallen 9.1% and two-bedroom rent has even dropped into the double digits with a 14% year-over-year dip.

Abbotsford, Halifax and Quebec City all trended upwards in month over month prices, with Abbotsford seeing the largest jump at 5.5%.

The cities with the largest downward trends for September were Barrie, St. John's and London, which all saw one-bedroom rental prices drop more than 3%.

"The 2 most expensive markets continued to hit record dips in prices. While Toronto one and two-bedroom rents were down 10% and 12%, respectively, since this time last year, Vancouver one and two-bedroom rents have fallen 9.1% and 14.1%, respectively. Notably, the only other city in this report that had rents down on all fronts was Montréal, though this market’s declines were much less drastic," reads PadMapper's report.

"The rest of Canada seems to be steadily recovering from the sudden halt in rental demand during the pandemic as half of the total cities saw rents grow on a monthly basis in this report. As Canada continues to reopen, the desire to move away from pricey cities is becoming more and more apparent."

To read the full rent report for September, click here.



Support local journalism by clicking here to make a one-time contribution or by subscribing for a small monthly fee. We appreciate your consideration and any contribution you can provide.


Visit our Facebook page to comment on this story.

Sign up for local eNews delivered to your inbox by 7 am every day.

Send your comments, news tips, letter to the editor, photos and videos to news@kelownanow.com.

To report a typo, send an email to news@kelownanow.com.





Sat
2℃


Sun
-1℃


Mon
3℃


Tue
7℃


Wed
10℃


Thu
10℃

Top Stories

Follow Us

Follow us on Instagram Follow us on Twitter Like us on Facebook Follow us on Linkedin Follow us on Youtube Listen on Soundcloud Follow Our RSS
Privacy Policy