The cost to rent a one-bedroom apartment surpassed $2,000 a month in Ottawa in August, as the average asking rent reached a record high across Canada.
New statistics from Rentals.ca show the average rent new tenants were asked to pay for a one-bedroom apartment in Ottawa last month was $2,063 a month, up 11.5 per cent from one year ago. The average asking rent for a one-bedroom apartment increased from $1,979 in July and $1,925 in May.
The average cost to rent an apartment was $2,226 a month in Ottawa in August, up 11.9 per cent from August 2022.
This is actually insane.
If you are making $52,000 a year, you’re spending just under 2/3rds (63%) of your take home pay on rent.
but at least minimum wage is $26/hour so we’re all good. Doug Ford is looking out for us little guys!
/s