Prices have gone up in other places, though. 😬
If the monthly cost of your rent is starting to take a toll on your wallet, it might be time to take a look at some of the cities in Canada where rent actually went down.
According to the January 2022 Canadian Rent Report by Zumper, there were a few spots where rent for a one-bedroom didn't see an increase from November to December.
In fact, prices actually went down month-over-month in some regions.
Of the 23 cities included in the report, there were 10 that experienced a decrease. It was Quebec City that saw the largest decline, with the median monthly rent cost dropping 5.4% to just $870.
Similarly, Kelowna experienced a fall of 5.2%, which puts the median price there at $1,630.
In Ontario, Barrie saw a decline of 4.7%, meaning the median price of a one-bedroom rings in at $1,620.
Another spot that saw a decline in the price of rent in December was Oshawa, where the median price of a one-bedroom came down to $1,590.
In Kitchener, it was $1,470, and Hamilton was $1,440. If you live in Kingston, Calgary or Winnipeg, the median cost would have been $1,330, $1,160 and $1,000 per month, respectively.
In Edmonton, you could secure a similar space for a fairly reasonable $920 per month.
Four spots in the list remained unchanged month-over-month for a one-bedroom apartment, which is at least better than an increase!
The median price for a one-bedroom in Toronto stayed still at $1,850 a month. In Ottawa, it was $1,500 and in Montreal it was $1,350.
In terms of increases, Windsor, Victoria, St. John's, Vancouver, St. Catharines, Abbotsford, Regina, Saskatoon and London all saw an uptick in their median rent in December. Sorry, folks!
This article’s cover image was used for illustrative purposes only.
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