British Columbia and Ontario continue to be the most expensive provinces to rent a room, or rooms, in Canada.
However, Canada’s most expensive rental markets in Toronto and Vancouver are showing a downward trajectory in prices.
Toronto’s one and two-bedroom prices are down -14.9% and -11.7%, respectively since this time last year.
Meanwhile, Vancouver’s one-bedroom rent has fallen -10.0% and two-bedroom rent has even dropped into the double digits with a -15% year-over-year dip.
Rent in Halifax continues to surge upwards, with one bedroom and two bedroom prices showing a price increase of more than 15%.
The cities with the largest downward trends for July were Hamilton, Regina and Kelowna, which all saw one-bedroom rental prices drop between 3 and 5%.