Overall, 9 cities saw an upward trend, 3 downward, and 12 remained stable last month. Following a similar progression to the last report, about half of the cities on this list had a flat month and though there were more monthly upticks in rent in this report, the increases were fairly small. On a year over year basis, however, about a third of the cities experienced double digit year over year growth rates, showing the demand still present in these markets.
Notably, Vancouver and Windsor had the fastest growing rents last month, both up 3.8%, while Montréal took the largest rent dip, down 2.7%.
Top 5 Most Expensive Markets
- Toronto, ON one bedroom rent dropped 0.9% to $2,230, while two bedrooms remained flat at $2,850.
- Vancouver, BC had one of the largest monthly one bedroom growth rates in the nation, up 3.8% to $2,210. Two bedrooms increased 3.6% to $3,200.
- Burnaby, BC stayed the 3rd priciest with one bedrooms staying flat at $1,570 and two bedrooms dropping 3.1% to $2,210.
- Barrie, ON moved up one spot to become the 4th most expensive city with one bedroom rent growing 0.7% to $1,450. Two bedrooms, on the other hand, saw rent drop 0.7% to $1,490.
- Montréal, QC moved down one spot to rank as the fifth priciest market with one bedroom rent falling 2.7% to $1,420 and two bedrooms remaining flat at $1,710. Notably, one bedroom rent is up 14.4% since this time last year.
–Windsor, ON, along with Vancouver, had the largest monthly one bedroom rental growth rate, up 3.8% to $830. This large increase pulled up the city 2 spots in our rankings to become the 22nd priciest city.
–Saskatoon, SK was the 21st most expensive city with one bedroom rent growing 3.4% to $900.
–Regina, SK ranked as the 20th priciest market with one bedroom rent jumping 3.3% to $930.
–Edmonton, AB was rent drop 2.1%, settling at $950, and down 2 spots to become the 18th priciest city. Two bedrooms also had a downward month, decreasing 0.8% to $1,200.