Rents in Canada saw annual increase of 15.4% in September: report
It's the highest year-over-year increase in the average rent since April 2019 according to the most recent, compiled by Rentals.ca and Bullpen Research & Consulting. Rents in September across Canada were also 4.3 per cent higher than the previous month, the highest month-to-month increase since Rentals.ca began publishing its reports in 2018.
Every single province and territory saw average rent rise in September 2022. The highest increases were seen in Nova Scotia, where the average rent rose to $2,453 across all property types, up 35.5 per cent from the previous year. Average rent in B.C. was $2,682, up 31.2 per cent, while Ontario's average rent rose 18.4 per to $2,451.
The most expensive city to rent in was Vancouver, where a one-bedroom apartment was listed for an average of $2,590 in September. This was followed by Toronto, where one-bedroom rents sat at $2,472, and Burnaby, B.C., which had an average one-bedroom rent of $2,292. However, despite the increases, Calgary still ranks the 12th cheapest city to rent in among the 35 communities across Canada that were included in the analysis.
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