Cheapest City To Rent In Canada: Quebec City Tops The List

Tired of your wages being devoured by your rent? It may be time to move to Quebec City.

The provincial capital has been named the least expensive place to rent out of the top 24 most populous metropolitan areas in Canada, with a one-bedroom apartment going for a very reasonable $790, according to Zumper's monthly Canadian Rent Report.

That's $90 cheaper than the next most affordable city, St. John's, N.L. — where the median rent for a one-bedroom apartment is $880 — despite Quebec City seeing the largest monthly rental growth rate in the country at 5.3%.

On the other end of the spectrum, Vancouver and Burnaby, British Columbia, have been deemed the most expensive cities for renters, where you can expect to pay $2,000 and $1,750 for a one-bedroom apartment, respectively, knocking Toronto out of the top two spots, "for the first time ever," according to the report.

In Montreal — the eleventh most expensive city on the list, just behind Hamilton and Kitchener, Ontario – median rent for a one-bedroom apartment was down 5.6% from last year at $1,360, while rent for a two-bedroom was unchanged at $1,800, according to the report.

But overall, rent is going up: "16 cities experienced rents on an upward trend, 5 markets went downward, and 3 remained flat. The Canadian rental market seems to be recovering steadily as the trend of growing rent prices in the majority of markets has continued from the previous 2 months," the report states.