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
- 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%.
- 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.
- 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.
- 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.
- 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.
–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.
–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.