It's no surprise that we've all been on edge lately, no matter what city you live in, on the cost of your rent rising. It seems as if every month the prices of an apartment change. Well, the fact is that it does change, and pretty frequently as well. If you have been considering the prices of rent in each Canadian city, you'll definitely want to take a look at PadBlogger's official February 2019 Canadian rent report.
TL;DR PadBlogger's February 2019 Canadian Rent Report was just released,with an updated list of the top 10 most expensive cities to pay rent in. While some cities saw an upward or downward trend, others remained the same as last month. Read below for more information.
The report lists the prices of rent for both a one-bedroom and two-bedroom apartment in each major Canadian city. Compared to January 2019, 9 cities saw an upward trend, 6 downward and 9 remained stable.
For instance, London, ON had the most substantial rental growth rate, climbing 4.9%.
Halifax saw the complete opposite, with a dip down to 4.8%.
Since the cost of rent in each city is pretty much constantly changing, you'll want to know where the top 10 most expensive are in Canada right now. Luckily you won't have to do much looking, as PadBlogger has already comprised the list for us:
Yes, it's true. Not that we're too surprised, but Toronto is now more expensive to live in than Vancouver when it comes to a one bedroom apartment. Montreal ranks at fourth place in all of Canada, with no increase noted since the last rent report.
A newcomer to the top 10 list is Hamilton, which had the largest year over year rental growth rate in the country, with the price of a two bedroom apartment up 15.5%.
In case you were curious of the cheapest city to pay rent in, that would be Windsor, ON. The median price for a one-bedroom apartment is $750, while a two-bedroom is a mere $990. Needless to say, this might be the new city for students and others who are looking for a break on rent increases.
Are the cities making the top 10 list exactly what you expected? Or were you surprised? Let us know!