Where is Toronto real estate with the rest of Canada?
Toronto real estate is the second most expensive rent in Canada. For a one bedroom rent will cost you $1,700 per month and a two bedroom is $2,160. This is almost a 5% increase in one month. Similar to last month, Canada continues to see mixed price trends across its cities. For one bedroom median rent, 13 cities have growing prices, 8 have decreasing prices, and 4 have no change. Check out below to see how rent in your city has changed this month.
Top 5 Most Expensive Rental Markets
1. Vancouver, BC kept its spot as the most expensive city to live in Canada despite seeing no change in price this month for either one or two bedroom apartments. Median price is $1,900 and $3,130, respectively.
2. Toronto, ON prices continued to rise at a fast rate. Both one and two bedroom units experienced a 4.9% increase up to $1,700 and $2,160, respectively.
3. Victoria, BC saw mixed changes for one and two bedroom apartments. One bedroom rent prices dropped 3.1% to $1,250, while prices for two bedroom apartments shot up 4.8% to $1,540.
4. Montreal, QC had reasonable growth in rent prices this month. Rent for one bedroom apartments bumped up to $1,210, marking a 2.5% increase. Two bedroom apartments saw a similar increase of 2%, now up to $1,500.
5. Barrie, ON was able to find its way up into the top five ranings thanks to a huge spike in one bedroom rents. Median price for one bedroom units is currently $1,100, up 4.8% since last month. Two bedroom units, on the other hand, had rents down 1.5% to $1,330.
Notable Changes This January
– Kingston, ON found its way up 2 spots into the top 10 this month. Rents for one bedroom units were up 5.3% to $990, while two bedroom rents jumped 2.6% to $1,180.
– Halifax, NS climbed up three spots to 14th. Rent for one bedroom units rose significantly, up 4.7, to $900 a month. Similarly, two bedroom units experienced a 3.6% growth to $1,140.
– Kitchener, ON was just shy of the top 10 mark but saw big increases in rent this month, a 4.4% and 1.7% increase in one and two bedroom rents currently put them at $940 and $1,170 respectively.
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