Rent Actually Went Down In These 8 Canadian Cities Recently & It Might Be Time To Move

Rent? Going... down? 😲

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Rent Actually Went Down In These 8 Canadian Cities Recently & It Might Be Time To Move

If the price of your place is bumming you out, you might want to take a look at some of the cities in Canada where rent actually went down last month.

According to the Canadian Rent Report by Zumper released on December 15, there are a few spots across the country where rent didn't see an uptick from October to November for a one-bedroom rental.

Abbotsford, B.C., saw the largest decrease month-over-month with the median cost of a single bedroom falling 4.8% to $1,400. Winnipeg also saw a significant drop with rent decreasing 4.7% to cost just over $1,000. Over in Ontario, Windsor saw a 3.4% decline in price with a one-bedroom coming in at $1,150.

Other cities that experienced a decline in the price of rent in November were Kitchener with the median price of a one-bedroom coming in at $1,490, London at $1,280, Edmonton at $930, Quebec City at $920 and Regina at $890.

Of the 23 cities included in the report, three spots remained flat month-over-month for a one-bedroom apartment.

Vancouver remains the most expensive place to rent a one-bedroom in Canada with the median monthly cost clocking in at $2,100, which was the same price as in October. Montreal and Kingston also saw their prices remain the same, costing $1,350 and $1,340 respectively.

In terms of increases, quite a few cities experienced an upward trend.

Rent in Toronto grew 2.8% with the median one-bedroom costing $1,850. That makes it the second-priciest market behind Vancouver, followed by Victoria, B.C., with an increase of 4.8% to $1,760.

Kelowna saw the median one-bedroom rent climb 3% to $1,720, and to round out the top five most expensive markets for one-bedrooms, Barrie jumped 4.9% to $1,700.

This article’s cover image was used for illustrative purposes only.

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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.

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