Toronto’s housing market has made headlines for being one of the most expensive in the country. Renters are also feeling the pinch as prices continue to climb.
Thirteen Canadian cities saw rent rise over the past month, according to a new
report by Zumper, a rental company that compares rental prices around the country. Three cities stayed flat and seven others dropped, the report says.
“It seems rent prices across many Canadian cities are beginning to pick up again as we head into the warmer months and renters begin to move, creating more demand and competition,” Zumper said.
While Vancouver still sits at the top on a monthly basis, Toronto’s rents increased for the first time in six months.
A one-bedroom in the GTA costs $2,500 per month, while a two-bedroom is $3,200.
Nationally, the cost of a one-bedroom has increased 5.9 percent over last year, to $1,892. The price of an average two-bedroom rental is now at $2,336, a 5.5 percent increase.
However, Zumper said national rates have seen a “steady deceleration” over the past eight months, which indicates the rental market across the country should continue to cool.
“Though rents overall are still expected to rise, especially as we head into summer and fall, they will likely not spike as much as they did in 2023,” the report said.
Here are nine cities with rent that are nearly half the price of Toronto.
London, Ontario
Two and a half hours drive from Toronto, in London, rent prices for a one-bedroom sit at $1,720 and a two-bedroom at $2,130.St. Catharines, Ontario
An hour and a half south of Toronto, rents in St. Catharines are $1,600 for a one-bedroom and $1,880 for a two-bedroom.Abbotsford, B.C.
In the lower mainland, rents continue to stay high, with Vancouver at the top of the list. However, in Abbotsford, 70 kilometres east of Vancouver, rents are lower with a one-bedroom at $1,590 and a two-bedroom priced at $1,980.Winnipeg, Manitoba
In the prairies, rent prices remain among the lowest in the country. In Winnipeg, a one-bedroom costs $1,430 and a two-bedroom rental is priced at $1,700.Windsor, Ontario
Windsor had the lowest rental prices in Ontario, at $1,400 for a one-bedroom and $1,650 for a two-bedroom.Quebec City, Quebec
A one-bedroom rental in Quebec City costs $1,360 and a two-bedroom is priced at $1,670.Edmonton, Alberta
Alberta’s capital city saw the largest jump in rent prices, up 23.9 percent from 2023, according to the report. A one-bedroom now costs $1,350 while a two-bedroom rents for $1,600.Regina, Saskatchewan
In Saskatchewan’s capital city, rent prices for a one-bedroom are $1,240 and a two-bedroom is priced at $1,450.Saskatoon, Saskatchewan
Saskatchewan’s largest city, Saskatoon, was at the bottom of the list for rent prices, with a one-bedroom priced at $1,230 and a two-bedroom $1,500.
