Rent In Canada Is Going Down & Even The Most Expensive Cities Are Cheaper Now

Big-city living here we come!
Rent In Canada Is Going Down & Even The Most Expensive Cities Are Cheaper Now
Sandro Schuh | Unsplash Lee Robinson | Unsplash
Contributor

It looks like big-city living isn't so out of reach anymore! That's because some of the most expensive markets in Canada are seeing the cheapest rent in years.

In fact, two of the most costly cities in the country, Toronto and Vancouver, hit a record low in terms of rent, which has not been seen since 2017, according to PadMapper's March 2021 Canadian report.

Editor's Choice: This Massive Ontario Cottage For Sale Comes With So Much Land & Is Right On The Lake

Per the report, nine cities saw prices rise, six stayed the same, and nine had lower rates.

Although the two cities still top the charts in the country, it is still seeing a major shift at the moment. The average cost of a one-bedroom in Vancouver is now $1,900, while a one-bedroom in Toronto is now $1,750.

Four of the top five most expensive markets in Canada actually saw a decrease for one-bedroom apartments, including Burnaby, B.C. and Barrie, Ontario.  

one-bedroom
Real EstateCanada
  • Osobe Waberi
    Osobe Waberi was a Toronto-based Ethiopian-Somali Francophone writer at Narcity Canada. She graduated from the University of Toronto with a specialist degree in journalism and a news media diploma from Centennial College. Before Osobe’s gig as a national trending writer at Narcity, she worked at Toronto Star, The Canadian Press, VICE, and CBC.

Canada's 'best city for renters' is this bustling spot with 1-bedroom apartments under $1,400

It beat Toronto by over 50 spots on the list!

I moved from Ontario to Alberta and these 6 things cost me way less now

Calgary is WAY cheaper than Ottawa, allow me to explain...💰

Here's how much it actually costs to live in Toronto vs. 9 other spots in Ontario

You could save over $11K a year by moving an hour and a half away. 👀

8 natural wonders to visit near Toronto this summer if you've already seen Niagara Falls

Keep these places in mind!

This $10 train ride from Toronto takes you to a tiny village with cute shops and cafes

It's like stepping into Stars Hollow.

I tested No Name products against the brand-name versions and the results are shocking

Here's where to splurge, and where you can save.💸

This dreamy Ontario town with colourful shops and sandy beaches is the 'prettiest' in Canada

It's like stepping into a storybook.

This tiny village 1 hour from Toronto is like wandering along the cobbestone streets of London

It's a dreamy hidden gem.

Justin Trudeau, Katy Perry attend Coachella

Katy Perry shares photos of Justin Trudeau at Coachella

This Ontario spot is one of the best places to see cherry blossoms in Canada this spring

It's a pastel paradise.

7 surprising things I miss about Vancouver since I moved away

And no, the bikes lanes did not make the cut.

Artemis II crew welcomed in Houston

Canadian astronaut and Artemis II crew returns to Houston

Finnish President Alexander Stubb to meet with PM

Finnish President Alexander Stubb to meet with PM Carney in Ottawa this week