A new report says the average monthly asking price for rental housing in Canada hit a record $2,202 in May, up 9.3% from last year and up 0.6% from the month of April.
The Urbanation and Rentals.ca report indicates that the average asking rent exceeds the $2,200 mark for the first time in the country.
According to the report, which analyzes monthly listings on the Rentals.ca network, the average asking rent for a one-bedroom unit in Canada was $1,927 in May, up 10.7% from a year ago. a year, while the average asking price for a two-bedroom unit was $2,334, up 12.1%.
On average, asking rents for purpose-built rental units increased 13.7% in May from a year earlier to $2,146.
This represents four times the increase in condo rents, which average $2,312, up 3.4 per cent.
All provinces recorded increases in average asking rent over the past year, with Saskatchewan leading the way with a 21.4% jump to $1,334.