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Average rental rates nationally for all property types declined for the second consecutive month, but are still up 9.4% annually. Surprisingly, the increase in rents is supported by some of the smaller municipalities such as London, Hamilton, Kanata, Burlington, and Kitchener, which are all experiencing double-digit rent growth when considering all property types.




National Overview

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When comparing the change in rent monthly, quarterly or annually, it is important to understand if the composition of the sample of transactions is changing. A way to look at rent that controls for changes in the size of properties is to look at the rent per-square-foot (psf).


The average rent per-square-foot nationally for all property types has increased by 8.4% annually from $2.14 psf in November 2018 to $2.32 psf. However, the average rent per-square-foot has been fairly flat since July.


It must be kept in mind, landlords and property owners do not list (or know) the unit size for every property on Rentals.ca, and these figures represent a smaller sample size in comparison to the total listings, which is more heavily weighted with Ontario and British Columbia urban markets, where every square foot counts, and there are more new units where the unit size is known.


To add another caveat, landlords with very small units may not list the unit size even though they know it, because they it might prevent prospective tenants from calling or viewing the suite. This is important because the smallest units typically have the highest rent per-square-foot outside of penthouses and units with expansive balconies.

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The 8%-9% rent increase over the past year is not consistent across built forms and bedroom types. The chart below looks at the average rent by bedroom type for all properties listed on Rentals.ca in November. The data shows two-bedroom units have experienced the highest annual growth at 17%, followed by one-bedroom and five-bedroom units at 11%, and three-bedroom units at 10%.

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According to survey data from Statistics Canada, 27% of people who moved over the past five years did so to move to a larger or more high-quality dwelling. Tenants want more space, and two bedrooms have always been a very desirable suite among renters. In November, two-bedroom units made up 37.9% of listings on Rentals.ca, just edging out one-bedroom units at 37.8%.


Across the country, two-bedroom units from 900 sf to 1,100 sf have been popular and experiencing strong rent growth nationally.


The chart below looks at the average rent by rounded unit size for all property types in Canada in November 2019, with the last 12 monthly readings shown via the faded markers (square footage is rounded to the nearest hundredth).

The highest annual appreciation in rents is occurring for units from 1,600 sf to 1,900 sf, with the higher point in that range being units rounded to 1,900 sf, which are up 19% annually. The second grouping experiencing the high growth is units from 900 sf to 1,100 sf, which are up between 8% and 15%. The slowest annual growth is occurring in the 2,000 sf to 2,200 sf range (the sample size is small) and in the 1,200 sf to 1,500 sf range.

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Single-family homes (single-detached and semi-detached) experienced the highest annual price growth among property types in Canada at 10.3%, rising from $2,286 per month in November 2018 to $2,522 per month in November 2019.


Townhouses increased by 9.1% annually, rental apartments grew by 8.2% annually, while condominium apartments lagged with growth of just 2.6%. Basement apartments declined year-over-year, but the sample size is small, and the results are not likely an indication of a big drop in demand for this property type.

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Provincial Rental Rates

On a provincial level, Ontario had the highest rental rates in November, with landlords seeking $2,339 per month on average (all property types), up from $2,334 in October, and 9.1% annually from $2,144 in November of 2018.

In Saskatchewan, the average monthly rent declined 9.7% annually, while average rents in Alberta are down 3%.

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Municipal Rental Rates

The majority of listings on Rentals.ca are rental and condominium apartments, and the chart below looks at the average rent and the annual change in average rent for a select number of Canadian municipalities (and former municipalities prior to amalgamation) in November 2019.


As was the case in October, Hamilton and Scarborough led the pack with year-over-year rent growth of 25% and 23%, respectively for apartments with rental or condo tenure.


Two of the more affordable Canadian rental markets, Quebec City and Winnipeg, have both experienced a significant jump in rent year-over-year, increasing by 22% and 21%, respectively.


On the other extreme are the municipalities in Alberta and Saskatchewan, with Red Deer, Calgary, Regina, Saskatoon, Edmonton and Fort McMurray all seeing average rents for apartments decline from November 2018 to November 2019. The declines range from 1% to 7% annually.

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2020 Forecasts

Vancouver


The chart below looks at the average rent for all property types in Vancouver from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


In November of 2018, the average rental rate was $2,353 for all property types listed on Rentals.ca. That rate increased to $2,507 for November 2019, an increase of 6.5% annually. Overall in 2019, the average rent in Vancouver was $2,351 per month (through 11 months).


The forecast calls for average rent in 2020 overall to be $2,423, with December 2020 rent at $2,585 per month, a 3% annual increase (3.1% from November 2019). This forecast is a moderation from the 7% annual growth forecasted by Rentals.ca and Bullpen last year.


New rental apartment completions are expected to rise in Vancouver in 2020, coupled with relatively flat resale market conditions, should result in less rent inflation.

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Calgary


The chart below looks at the average rent for all property types in Calgary from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


In November of 2018, the average rental rate was $1,457 for all property types listed on Rentals.ca, that rate decreased to $1,381 by November 2019, a decrease of 5.2% year-over-year. Overall in 2019, the average rent in Calgary was $1,450 per month.


The forecast calls for average rent in 2020 overall to be $1,405, with December 2020 rent at $1,370 per month, a 1% annual decline. This forecast is a moderation from the 4% annual growth forecasted by Rentals.ca and Bullpen last year, which clearly put excess weight on some of the positive economic data at this time last year.

A continued slump in the energy sector should continue to keep rents flat in 2020.

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Edmonton


The chart below looks at the average rent for all property types in Edmonton from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


The average rental rate was $1,223 for all property types listed on Rentals.ca in November 2018, that rate decreased to $1,175 for November 2019, a drop of 3.9% annually. Overall in 2019, the average rent in Edmonton was $1,257 per month.


The forecast calls for average rent in 2020 overall to be $1,207 for all property types, with December 2020 rent at $1,165 per month, a 1% annual decline. This forecast is similar to the zero growth forecasted for Edmonton by Rentals.ca and Bullpen in 2018. The forecast of 0% rent change was on track in the first half over the year, but rents slumped in the second half of 2019. Like Calgary, the continued uncertainties in oil-related industries should continue to keep rents flat in 2020.10 EdM D.png


Toronto


The chart below looks at the average rent for all property types in the former City of Toronto (pre-amalgamation) from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


In November of 2018, the average rental rate was $2,385 for all property types listed on Rentals.ca, that rate increased to $2,591 for November 2019, an increase of 8.6% annually. Overall in 2019, the average rent in Toronto was $2,504 per month.


The linear forecast calls for average rent in 2020 to surpass $2,800, but Rentals.ca and Bullpen expect December 2020 rent to be $2,770 per month, a 7% annual increase. This forecast is a moderation from the 11% annual growth forecasted by Rentals.ca and Bullpen last year, which was a little too bullish, as condo rental rates have moderated more than expected (+4%), despite the more pronounced increase in rental rates for purpose-built apartments (+9%) and single-family homes (+11%).


Based on strong pre-construction condominium apartment sales from 2016, the level of condo apartment completions is expected to rise rapidly in 2020 based on this typical 4-year sales to occupancy lag. However, elevated population growth, and a recovering resale housing market will continue to price-out first-time buyers and should offset some of that increases condo rental supply.

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Mississauga


The chart below looks at the average rent for all property types in Mississauga from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


In November of 2018, the average rental rate was $2,232 for all property types listed on Rentals.ca in Mississauga, that rate increased to $2,405 for November 2019, an increase of 10.2% annually. Overall in 2019, the average rent was $2,504 per month.


The linear forecast calls for average rent in 2020 to surpass $2,600, but Rentals.ca and Bullpen forecast that December 2020 rent will be $2,585 per month on average, an 8% annual increase. This forecast is a slight moderation from the correct 10% annual growth forecasted from December 2018.


Mississauga will continue to move in parallel with the former City of Toronto with prospective renters fleeing Toronto for less expensive units or larger properties.

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Ottawa


The chart below looks at the average rent for all property types in Ottawa from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


In November of 2018, the average rental rate was $2,029 for all property types listed on Rentals.ca. That rate decreased to $2,018 for November 2019, a decline of 0.5% annually. Overall in 2019, the average rent in Ottawa was $2,032 per month. The decline for all property types is in contrast to the annual increase of 9% for condos and rental apartments presented earlier. The changing composition of listings contributes to some of these data anomalies, which can occur despite a robust sample of listings.


The forecast calls for average rent in 2020 overall to be $2,042 with December 2020 rent at $2,100 per month, a 4% annual increase. This forecast is a moderation from the 9% annual growth forecasted by Rentals.ca and Bullpen last year, which was accurate for condo and rental apartments, but a big miss for the rental market overall.


The resale ownership housing market in Ottawa has really started to pick up, and that should have the impact of pulling up rental rates as first-time buyers are priced out.

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Montreal


The chart below looks at the average rent for all property types in Montreal from October 2018 to November 2019, and the Rentals.ca and Bullpen Consulting forecast for 2020.


In November of 2018, the average rental rate was $1,412 for all property types listed on Rentals.ca. That rate increased to $1,618 for November 2019, an increase of 24.4% annually. The sample size of listing in Montreal is large, so the rent spike and monthly volatility wouldn’t typically be expected, but is an illustration of the wide variety of rental product in Montreal and that suites are getting snapped up quickly, and not lingering on Rentals.ca for months without being leased. Overall in 2019, the average rent in Montreal was $1,472 per month.


The forecast calls for average rent in 2020 of $1,583, but Rentals.ca and Bullpen expect December 2020 rent to be $1,695 per month, a 5% annual increase. Given the volatility in the monthly figures, there is a wide forecast band, but rent is expected to grow at twice the rate of inflation.

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According to Rentals.ca listings data, the average rent for Canadian properties in October was $1,940 per month, a decrease of 0.7% monthly, but an increase of 5.5% annually. The median rental rate was $1,850 per month in October, up 8.9% from a year earlier ($1,700).

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It's important to understand the implications of purchasing a rental home and how that affects your taxes. There are some things that you don't want to miss just because you're new to the game - let us break it down for you.


Property vs. Business Income

If you’re a landlord, your rental income will be treated either as property income or business income, and each brings different tax implications to the table. According to the CRA, to differentiate between these two, you should consider the numbers and services that you offer to your tenants. 


Most often, you're collecting property income if you only provide basic services such as heat, parking, light, laundry facilities. If you offer more services such as cleaning, meals, or security, your rental operation is likely a business, and could be taxed as such. 


Keep in mind that the more services you provide to your tenants, the higher the chances it will be considered a rental business.


Why Property and Business Income Matters

As mentioned, there can be significant differences in your taxation, such as:

Property Income:

  1. Not subject to Canada Pension Plan premiums (CPP) on net income.

  2. Filing deadline: April 30th

  3. Deductions Such as Childcare Expenses Deduction, Canada Workers Benefit (CWB), or Refundable Medical Expense Supplement do not apply.

Business Income:

  1. Subject to CPP premiums

  2. Filing deadline: June 15th - for the individual and their spouse - although any taxes payable are still due by April 30th.

  3. All the following apply for deduction:

    1. Childcare Expenses Deduction 

    2. Working income tax benefit (WITB)

    3. Refundable Medical Expense Supplement


How co-owning or partnering can affect your taxes

Entering into a partnership or co-ownership on a rental property naturally comes with a lot of advantages. There’s less overhead for each individual, other costs can be easily shared, and often times your purchasing power will be increased. However,  a joint proprietorship also directly affects the way you should file your taxes. 

  1. Personal: You’re the sole owner, which makes it nice and simple for you to file your taxes by claiming all the rental income.

  2. Co-ownership: As mentioned by CRA, “if you own the rental property with one or more persons, we consider you to be a co-owner.” That means that if you share a rental property with your spouse or common-law partner, you are co-owners.

    Each co-owner claims their share of the rental income according to what they've previously agreed. As co-owners, it's vital to understand the details of your partnership for income tax purposes - it helps define if you have a property income or a business income.

  3. Partnership: In short, it's profit-oriented. CRA defines partnership as “ a relationship between two or more people carrying on a business, with or without a written agreement, to make a profit. If there is no business in common, there is no partnership.” 

One other important note: According to Canada Revenue Services, if you’ve received income from renting a property, you have to file a statement of income and expenses. Luckily, the always handy Form T776 will help you calculate them.


Hopefully, this quick overview of tax considerations helps you plan for your property renting future. Now to the fun part: Expense deductions!


What Are Current and Capital Expenses

Who doesn’t love a taxable deduction? However, it’s important to know that not all expenses for your rental property are created equal. There are two basic types of expenses that you typically incur as you earn a rental income: Current expenses (also called operating expenses) are expenses that serve a short-term benefit. For example, spending money on repairs to keep part of the rental unit in good working condition is considered to be a current expense.


On the other hand, capital expenses are typically related to things that provide long-term value. The costs incurred to buy or improve your property as a whole fall into this category. Normally, you cannot deduct the sum of these expenses in the year you incur them - instead, you get to deduct their amount over several years as Capital Cost Allowance (or CCA for short).


Deductible Rental Expenses

As stated by Canada Revenue Service, you can deduct expenses you incur to obtain rental income. To be more specific, here’s a list of deductible expenses along with links to learn more about each category.

We realize it’s quite an extensive list. The truth is, it can be challenging to keep track of every expense, repair, legal fees, bank charges, and utilities. Staying on top of these things comes with the landlord territory. While it’s certainly possible to manage and track these expenses yourself to save a bit of money, it’s very common for property owners to delegate it to a certified accountant to ensure they meet all the tax requirements (and get the maximum bang for their deduction buck).


You might want to pay special attention to maintenance and repair expenses, as they make it possible for you to deduct amounts paid to a property management company, as well as agents for collecting rent or finding new tenants.


Non-Deductible Expenses

While the list of deductible expenses is long, non-deductible ones are a bit easier to understand. They typically fall into one of five categories:

Though they aren’t deductible, you’ll still need the help of an accountant to calculate your expenses as required by the CRA.


Calculating loss, depreciation, advertising costs, and other fees can definitely pile up, so keeping everything in order makes it easier for you when tax season comes around.


Keeping Records

You may already know this, but records refer to every accounting and financial information document that you accumulate over the course of your property rental business. The CRA advises that you keep them “for six years from the end of the tax year to which they relate.''


Records that you should keep to support your current expenses and purchases include:

  • Invoices

  • Receipts

  • Contracts

  • Any document that may support an expense

You don’t have to send in all records with your income tax filing - just keep them organized by year and subject in case the CRA does ask for them to validate your claim. 

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Renting is now cheaper than buying in Vancouver, according to a recent report by the National Bank of Canada.


According to the report, housing affordability in Canada deteriorated for the 14th consecutive quarter at the end of 2018. With that, the worst deteriorations in affordability were in Vancouver, Victoria, and Toronto.


According to the report, the city’s housing affordability “deteriorated for the condo sector in fourth quarter.”

 

The average price of a representative condo in the Vancouver market is $638,842 and the annual household income needed to afford a condo at that price is $117,227. The report says that it would take a total of 61 months to save for the condo’s down payment (with a saving rate of 10%).


A Vancouverite is looking at an average monthly mortgage payment of $3,127 for a two-bedroom condo, compared to a monthly rental for a similar property costing $1,913.

National Bank of Canada


The median detached home price remains over $1 million, averaging $1,318,768. With that, a monthly mortgage payment is about $6,456.


The National Bank report also showed that the time required to save for the down payment on a representative home at a savings rate of 10% will take 415 months in Vancouver.


Vancouver isn’t the only city in Canada suffering from rising real estate costs. Renting has become cheaper than buying throughout the country.



National Bank of Canada


The same report outlined home prices around the world per square footage, and Vancouver ranked as the 10th most expensive.


Hong Kong came in first place globally, and in Canada, Vancouver placed first with an average of $770 (US) per square footage for a place downtown.


National Bank of Canada


No wonder Vancouver is one of the most ‘severely unaffordable’ cities in the world.


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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

  1.  Toronto, ON one bedroom rent dropped 0.9% to $2,230, while two bedrooms remained flat at $2,850.
  2. 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.
  3. Burnaby, BC stayed the 3rd priciest with one bedrooms staying flat at $1,570 and two bedrooms dropping 3.1% to $2,210.
  4. 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.
  5. 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.

Upward

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.

Downward

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.

Full Data

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Overall, 8 cities saw an upward trend, 3 downward, and 13 remained stable last month. While more than half of the total cities continued to have flat monthly growth rates, the cities that experienced an upward trend actually more than doubled when compared to the previous rent report. As the hot moving season begins, we should expect to see rents grow on a monthly basis.

The top 10 markets saw some slight adjustments with Barrie outpacing Victoria to rank in the top 5 markets again and St. Catharines jumping up 3 positions to rank in the top 10 as 9th.

Notably, Windsor had the fastest growing rent in the nation last month, up 5.3%, while Halifax and Kelowna took the largest rent dips, both down 3%.

Top 5 Most Expensive Markets

  1.  Toronto, ON saw one bedroom rent drop $10 to $2,250 but remain the most expensive city in the nation. Two bedrooms, on the other hand, were flat at $2,850. Notably, on a year over year basis, one bedroom rent is up over 8%.
  2. Vancouver, BC one bedroom rent grew 1.4% to $2,130, which is a peak it has not reached since the January 2019 report. Two bedrooms, on the other hand, decreased a slight 0.3% to $3,090.
  3. Burnaby, BC continued to rank as third with one bedroom rent remaining flat at $1,570, while two bedrooms grew 1.3% to $2,280.
  4. Montréal, QC one and two bedroom rent both stayed stable at $1,470 and $1,710, respectively. On a year over year basis, one bedroom rent in this city is up 14%.
  5. Barrie, ON moved back into the top 5 markets, outpacing Victoria, with one bedroom rent jumping 4.3% to $1,440. Meanwhile, two bedrooms were flat at $1,400.

Upward

Windsor, ON, ranking as the most affordable city in the metro, had the fastest growing one bedroom rent last month, up 5.3% to $800.

St. Catharines, ON moved up 3 spots, and into the top 10 markets, as the 9th priciest rental market. One bedroom rent grew 5.2% to $1,210 while two bedrooms increased 5% to $1,470.

Saskatoon, SK was the 21st most expensive city with one bedroom rent increasing 3.6% to $870, while two bedrooms had an even larger growth rate, climbing 4% to $1,040.

Downward

Halifax, NS, dropped 2 spots to become the 18th most expensive city. One bedroom rent decreased 3% to $960, while two bedrooms remained flat at $1,270.

Kelowna, BC was the 7th priciest city and saw one bedroom rent drop 3% to $1,280.

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Overall, 4 cities saw an upward trend, 3 downward, and 17 remained stable last month. There was little movement throughout Canada as a majority of cities stayed in their previous month’s rankings, with a few cities stirring at the very bottom. A little less than half of the total cities continued to have double digit year over year growth rates but this has been the most stable month Canada has seen yet.

Notably, Windsor had the fastest growing rent in the nation last month, up 5.6%, and Calgary saw the largest rent dip, down 2.7%.

Top 5 Most Expensive Markets

  1.  Toronto, ON had a stable month with one bedroom rent staying flat at $2,260 and two bedrooms also remaining fixed at $2,850. On a year over year basis, however, one bedroom rent is up 10.8%.
  2. Vancouver, BC continued to rank as the second priciest city with one bedroom rent at $2,100. Two bedrooms, meanwhile, dropped 4.9% to $3,100.
  3. Burnaby, BC one bedroom rent had a flat month, staying at $1,570 and as the third most expensive. Two bedrooms had a slight uptick of 0.4% to settle at $2,250.
  4. Montréal, QC saw one bedroom rent drop 2% to $1,470, while two bedrooms had an even larger decline, falling 3.9% to $1,710.
  5. Victoria, BC was the fifth most expensive city with both one and two bedroom rents staying flat last month at $1,390 and $1,730, respectively. Though stable month on month, two bedroom rent here is up 14.6% since this time last year.

Upward

Windsor, ON one bedroom rent had the largest growth rate in the nation last month, up 5.6% to $760.

Saskatoon, SK moved up 2 spots to become the 21st most expensive city with one bedroom rent jumping 5% to $840.

Edmonton, AB saw one bedroom rent climb 4.4%, settling at $950, and up one spot to 18th.

Downward

Calgary, AB one bedroom rent dropped 2.7% last month, settling at $1,070. Two bedrooms had a similar decline, falling 2.3% to $1,290.

Winnipeg, MB remained the 17th most expensive city, though one bedroom rent decreased 2% to $960 and two bedrooms were down 0.8% to $1,250.

Montréal, QC was the only city in the top markets to see a decline in one bedroom rent since it dropped 2% to $1,470. Two bedrooms had an even larger downturn, falling 3.9% to $1,710.


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Overall, 5 cities saw an upward trend, 8 downward, and 11 remained stable last month. In line with seasonality, these relatively flat to decreasing monthly growth rates are signaling a slow down from the constant monthly price spikes that we’ve seen recently in the Canadian rental market. However, the many double digit year over year growth rates continue to show the large overall demand that exists there. In the top 10 markets, the Ontario province had the most cities with 6, British Columbia followed suit with 3, and Québec had 1.

Notably, Hamilton, Kitchener, and Oshawa were all tied for 9th with one bedrooms priced at $1,200. While Saskatoon was essentially the only city with a significant monthly growth rate of 4.8%, Regina, on the other end of the spectrum, took the cake for the largest monthly decline, down 5.8%.

Top 5 Most Expensive Markets

  1.  Toronto, ON saw one bedroom rent decrease a slight 0.4% to $2,260, while two bedrooms remained flat at $2,850.
  2. Vancouver, BC one bedroom rent grew 1% to $2,100, while two bedrooms dropped 0.6% to $3,260.
  3. Burnaby, BC held steady as the third priciest city, though one and two bedroom prices were mainly flat, settling at $1,570 and $2,240, respectively.
  4. Montréal, QC also had a steady month with one and two bedrooms remaining flat at $1,500 and $1,780, respectively.
  5. Victoria, BC rounded out the top 5 with one bedroom rent staying flat at $1,390 last month and two bedrooms growing 3.6% to $1,730.

 Upward

Kitchener, ON one bedroom rent had the largest monthly growth rate in the nation, up 4.3% to $1,200. This big bump also moved the city up 2 spots and into the top 10 markets as the 9th most expensive

Hamilton, ON also jumped into the top 10 markets with one bedroom rent growing 3.4% to $1,200.

Barrie, ON one bedroom rent climbed 2.3%, settling at $1,360, and up one position to rank as the 6th most expensive city.

  Downward

Québec, QC, ranking as the 21st priciest city, had the largest monthly rental decline in the country, falling 5.8% to $810. Two bedrooms saw a significant downturn as well, dropping 4.8% to $1,000.

Saskatoon, SK took a single ranking dip to 23rd with one bedroom rent falling 4.8% to $800 and two bedroom rent, similarly, decreasing 4.7% to $1,010.

Edmonton, AB dropped one position to become the 19th priciest city. One bedroom rent decreased 4.2% to $910, while two bedrooms had a slightly more modest decline, down 3.2% to $1,200.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.