The average asking price for rental accommodation in Canada reached $2,149 last month, an increase of 11.1% compared to the same month last year, reveals a new report from Rentals.ca and Urbanation.
The data, which analyzes monthly listings from the Rentals.ca network, shows that the average rent in Canada has reached a nine-month high in terms of annual inflation. The average rent for September also increased by 1.5% compared to that of August.
The average cost of a one-bedroom unit in September was $1,889, 9.7% higher than September 2022, while the average asking price for a two-bedroom unit was $2,342, up 9.5% over one year.
Vancouver was Canada’s most expensive city for renters, with an average rent for a one-bedroom apartment of $2,976, and an average rent of $3,908 for a two-bedroom apartment. It was followed by the city of Burnaby, also in British Columbia.
Toronto ranked third, with rent of $2,614 for a one-bedroom apartment and $3,411 for a two-bedroom apartment.
Although increases remained strong in most major markets last month, the annual rate of rent growth “slowed significantly” in Toronto, perhaps pointing to a broader moderation in inflation, according to the report. rents in the coming months as the economy slows.
Up 13% in Quebec
In Quebec, the average increase in rents was 13% compared to September 2022, with the monthly payment overall reaching $1,970. This rent was $1,724 for a one-bedroom apartment (+16%), $2,140 for a two-bedroom apartment (+13%) and $2,410 for a three-bedroom apartment (+5%).
By large cities, the increase in monthly rent over one year reached 10.2% in Montreal, for an average price of $2,030, 12.2% in Quebec ($1,418) and 4.7% in Gatineau ($1,834). ).
With The duty