The five cheapest rental markets are so affordable it hurts.
A new rental report by Zumper has just been released and it reveals the cheapest rental markets in Canada along with the most painfully expensive.
The report calculated the median rents for the 24 most populous metropolitan areas in the country. It will surprise no one that the most expensive rent in Canada is in Vancouver where the median price of a one-bedroom apartment is $2,000 per month and a two-bedroom is $2,800.
Next in line was Burnaby followed by Barrie, Toronto, and Victoria. Meanwhile, on the other end of the list were the most affordable rental markets where the prices are looking far more attractive.
The fifth most affordable place is Saskatoon, where a one-bedroom is $950 per month. Next up is Edmonton where the median price is $930. Then comes Regina at $910 and St John's at $880.
Way down at the bottom is Quebec where rent for a one-bedroom only costs $790 per month. For a two-bedroom, the median price in Quebec is $1,000. That means you and your roommate could be sitting pretty and coughing up only $500 each month for your rent payment.