Rent has become a sad reality for many of us in our adulthood. While it can be really expensive, finding the most frugal place to live isn’t always the smartest decision. Lucky for us, a list of the most expensive cities to rent a place in Canada has been released. This list will help you put into perspective how much, or little, you’re paying as well as help you plan your next move accordingly!
The recent report was released by PadMapper. The report touches on the average rent in major Canadian cities for February. Cities all over Canada are mentioned, however, the top 10 most expensive cities might shock you.
It comes as no surprise that Toronto and Vancouver secured the number one and number two spots respectively. The average price of rent in these bustling cities is $2,270 and $2,080 for a one bedroom place. It’s safe to say these two cities have earned the top spot.
Coming in at number three is Burnaby, BC. This shocking statistic has Burnaby’s average monthly rent sitting at $1,570 for a one bedroom. If you are living with a friend or significant other, expect to pay an average of $2,250. If you're not familiar, Burnaby is located in the Greater Vancouver area and is becoming a popular spot to live if you want to live close to Vancouver.
The next notable BC city on the top 10 list is Victoria. Coming in at number five, those wishing to live their best life by the ocean can expect to pay $1,390 for a one bedroom. Victoria is British Columbia's capital city and it's located on Vancouver Island. Not only will you have to take a ferry to get there, but living in the understated city will definitely come at a cost.
If you’re looking for a two bedroom, expect to pay a little more. According to the report, rent for a two bedroom in Victoria has increased by 5%. I hope you have a spare $1,670 a month because that’s what you’ll need!
The last BC city to make it on the list is Kelowna. This city is centered right in the heart of wine country, and you’re definitely paying the price to live there. The report estimates that it is around $1,340 to rent monthly. Although it is expensive, at least you’re walking distance away from one of the biggest lakes in BC, Lake Okanagan.
We were shocked at a number of the other Canadian cities who made it on the list. Both Barrie and Oshawa, Ontario have high enough rent to be mentioned. Barrie came it at number seven while Oshawa secured the number nine spot.
Barrie has an average rent cost of $1,330 while Oshawa comes in at $1,200. While these are on the lower end in terms of the top 10 list, they are still shockingly high and unexpected.
Other Canadian cities on the top 10 list include Montreal, Quebec at number four and Hamilton, Ontario at number 10. You can expect to pay around $1,500 to rent in Montreal and $1,160 in Hamilton.
Altogether the list touches on 24 Canadian cities. If you want to view the entire list you can see the image shown above or visit the PadMapper website. Happy house hunting!