An Ottawa Suburb Is Now The Most Expensive Place To Rent A Two-Bedroom Apartment In Canada
Move over, Toronto and Vancouver.
Move over, Toronto. If you think a two-bedroom apartment in the 6ix would be the most expensive rent in Canada, then think again. The Rentals.ca October 2019 national rent report is out and, although Toronto still claims the most expensive one-beds on average, the two-bedroom title goes to none other than Kanata, Ontario. This city's average rent for a two-bedroom almost reaches $3,000 a month.
According to the Rentals.ca report, Kanata is the most expensive city in eastern Ontario to rent a two-bedroom place, with an average rental cost of $2,998.
Toronto, which everyone knows is one of the most expensive cities in Ontario, has an average monthly two-bed rent of $2,908. It's less than $100 behind Kanata, a rapidly-growing suburb located around 22 km from downtown Ottawa.
Ottawa itself comes in in 10th place in the report, with the average two-bedroom rental costing $2,056 month to month. So, if you move out of downtown and head to Kanata, you can expect to pay almost $1,000 more every month, which is pretty staggering.
Rentals.ca data shares that the average Canadian rental property across the entire country was listed for around $1,954 per month in September. That figure is an increase of 2.1% over August's numbers.
Kanata's average rate for two-bedrooms comfortably surpasses the average for Ontario as a whole, beating the provincial figure of $2,476 by $500.
If you're set on living near the Ontario-Quebec border around Ottawa, though, perhaps try Gatineau, Quebec, where the average two-bedroom comes in at $1,358. That's less than half of what you'd be paying in Kanata or Toronto.
The top 10 places across Canada that are the most expensive for a two-bedroom rental overall are:
Kanata, ON - $2,998
Toronto, ON - $2,908
Vancouver, BC - $2,768
Etobicoke, ON - $2,564
Oakville, ON - $2,395
Richmond Hill, ON - $2,391
Mississauga, ON - $2,301
Burlington, ON - $2,215
Burnaby, BC - $2,192
Ottawa, ON - $2,056
Toronto and Vancouver are notoriously expensive, and it may not come as a shock that Ontario cities dominate the top positions in the national list.
Kanata is an area that is quickly expanding and that will undoubtedly have had an impact on prices. Still, it feels surprising to see the suburban area, which had a population of around 90,000 at the last count in 2016, come in as pricier than cities like Toronto and Vancouver.
The Rentals.ca report also revealed that, somewhat surprisingly, rent is actually down in several areas, including.