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

British Columbia and Ontario continue to be the most expensive provinces to rent a room, or rooms, in Canada.

PadMapper’s latest national rent report[1] shows that Montreal is the only city outside of those two provinces to crack the top 10.

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.

<who> Photo Credit: PadMapper.

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%.

To read the full rent report for November, click here[2].

References

  1. ^ rent report (blog.padmapper.com)
  2. ^ click here (blog.padmapper.com)

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