Average Canada rent hit over $2K last month with no signs of slowing

Average Canada rent hit over $2K last month with no signs of slowing

Data reveals the average monthly rent in Canada increased to a record $2,024 in November, and the trend does not show signs of slowing down.

Canada apartment building

Rent across Canada was at an all-time high in November.

The National Rental Report published Tuesday shows average rent across Canada was at an all-time high in November, up 2.5 per cent from October.

The average monthly rent was also up $224 compared with a year ago, for gain of 12.4 per cent.

While the average price for a one-bedroom rose 8.3 per cent to $1,710, two-bedroom rentals had the biggest spike, up 11.7 per cent from last year to $2,090.

Vancouver remains the most expensive place to rent in Canada, with the average price of a one-bedroom now going for $2,633 per month. Toronto is in second place at $2,532 for a one-bedroom based on a list of 35 Canadian cities.

The report was based on data collected by Rentals.ca and Urbanation from monthly online listings.

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