Rent Is Actually Getting Cheaper In 6 Of Canada's Biggest Cities
October's national rent reports are in.
Rent in Canada is becoming increasingly unaffordable, especially in big, metropolitan cities like Vancouver and Toronto. While rent in most cities only continues to rise, a handful of cities has actually seen prices drop this October 2019. According to PadMapper, rent in Canada has gone down in these cities.
Paul Danison of Rentals.ca tells Narcity that Toronto and Kanata, a growing suburb of Ottawa, are the priciest places to rent in the whole country. Rent across Canada is up by 2.1%.
This graph shows that a studio apartment in Ontario is more expensive than a three-bedroom in Saskatchewan, Manitoba and Alberta. Pretty wild.
According to PadMapper's October 2019 Canadian Rental Report, rent prices in these cities are actually going down. Unsurprisingly, only one of these cities is in BC. According to Rental.ca's findings, some of these are in Ontario as well.
According to PadMapper, Calgary is now the most 14th expensive city to rent in Canada. Two-bedroom rentals are $1,370 on average, a 2.1% drop from the month prior. One-bedrooms have dropped by 1.8% to $1,120 per month.
Renting a single bedroom in Edmonton now only costs $940 per month on average. Two-bedrooms have dropped in price by 1.7% to $1,180 monthly.
The only BC city on the list to see rent prices fall in October 2019 is Kelowna. While it is still the 8th most expensive city to rent in all of Canada, two-bedrooms are now 3.3% cheaper than the month before at $1600.
Windsor, Ontario is now the 23rd most expensive city to rent in Canada. One-bedroom rentals are roughly $850 per month, a decrease of 1.5%.
Rentals.ca reports that rent in Kitchener has dropped this month by 2.8%, with one-bedroom rental prices at $1,280 monthly.
Believe it or not, Rentals.ca reports that one-bedroom units in Scarborough, Ontario dropped by a whole 5.2% this month to $1,549. Compared to $2,304 a month for a one-bedroom in Toronto, commuting into the city suddenly sounds a lot more worth it.