The Average Prices For Rent In Canada Are Out And It's Officially Time To Start Looking For A Tent To Live In
These rates are getting ridiculous!
It's no secret that rent across Canada has been on the rise for many years, to the point where rates are now starting to become downright ridiculous. Whether you are looking for a one bedroom or a bigger space to split with a roommate, it's become almost impossible for many people to afford living anywhere near a major city in Canada.
Unfortunately, this October hasn't seen any significant dip in the market. Major cities such as Toronto and Vancouver are maintaining steep average monthly rent costs of $2,230 and $2,100 for a one bedroom, respectively. Though the data collected by Pad Mapper does show some promising areas in the country that have average rental rates in and around $1,100 for a one bedroom- a rate that is a distant memory in many parts of the country.
The rental site released a list of the top 9 cities' average rent prices for a one bedroom apartment. While Toronto and Vancouver topped the list, several unlikely cities followed closely behind:
Cities like Ottawa, Victoria, Kelowna, Calgary and Oshawa all came in under the $1300 mark, with Calgary and Oshawa even coming in under the $1200 mark. Proving that cheap rent does exist in Canada, you've just got to be willing to move for it! Though you might want to act fast if you're planning to move to Calgary, considering Pad Mapper saw an upward trend in the city's market with a 4.5% rent jump.
If you're looking for more good news, cities on a downward trend included Kingston and Hamilton, Ontario and Edmonton, Alberta, all three of which saw a dip in average rental prices.
Though if you are looking for more cities to compare, and are also considering a 2 bedroom option, Pad Mapper also compiled a list of the top 24 cities in Canada right now when it comes to rental rates for the month of October:
Clearly, there are still some budget-friendly cities in Canada for you to factor into your future plans. But, the idea of living in a tent over in Trinity Bellwoods does sound like a more cost-effective solution, so maybe house-hunting should turn into tent-hunting?