Rents in Canada are through the roof. Here are the most expensive cities
In November 2022, the average monthly cost to rent a home in Canada rose to a record-high $2,024.
Real estate experts forecast this trend could continue in the coming months as more people are deciding to rent rather than buy property. “Rents are up significantly over last year,” said John Pasalis, president and broker of Realosophy Realty in Toronto. “Our population is booming and we’re not really building much in terms of houses and in rental buildings. And this is a big driver of why rents have been surging.”According to Rental.ca’s market outlook, rents for units available in the market are expected to increase by an average of about five per cent in Canada this year.
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