Some Of Canada's Most In-Demand Cities To Rent In Are Also The Cheapest & It's Time To Move
Yes, cheap places in Canada still exist!
The Calgary skyline. Right: A street in Downtown Winnipeg.
A list of the most in-demand cities to rent in Canada is out and a few that made the cut are actually among the cheapest places to rent.
Before you ask, the cheapest cities don't include Vancouver and Toronto. What did you think was going to happen, a miracle?
The study, which was put out by the insurance distributor Duuo, found that Canada's most in-demand city to rent in is, unsurprisingly, Toronto.
After that, the country's capital, Ottawa, is in second place and then coming in at the number three spot on the list is Winnipeg, Manitoba.
It might be a bit of a surprise but maybe one of the reasons Winnipeg's demand is bigger than cities like Vancouver, Montreal and Hamilton is because of how affordable it is.
Matter of fact, Winnipeg is the third cheapest city to rent in Canada that made the list with the average rent for a two-bedroom apartment running at only about $1,205 a month.
Compare that to the average rent for the same space in Toronto which is $2,185 and it looks like the capital of Manitoba might be the place to move to if you're looking to save some cash.
As for the city on the most demanded list with the cheapest average rent, that honour goes to Saskatoon, Saskatchewan.
It just managed to squeak onto the top 10 and took the last slot with an average rent of $1,140 a month for a two-bedroom apartment.
Along with those cheap cities are Calgary and Edmonton which made it as high as fourth and sixth on the top 10 most in-demand cities to rent. Plus, both of these cities are also some of the least expensive places to rent!
While Canada can seem like a place that is always expensive to rent and live in, there are still some places with affordable prices that are also places that Canadians want to live in.
However, if you were thinking of buying instead of renting, it has been predicted that Canada's home prices are expected to "remain elevated" in 2022 and affordability will "decline" in the next few years.
The federal government recently promised to make it easier for first-time homebuyers to purchase their first home by introducing a tax-free savings account and extending other supports.