Rental prices in Canada reached a new high with the average asking price of $2,149 per month, according to a new report compiled by a Canadian rental listings website.

According to Rentals.ca and real estate research firm Urbanation, the Canadian market continued its upward trajectory with data suggesting a monthly increase of 1.5 per cent from August, and an annual surge of 11.1 per cent.

Experiencing double-digit year-over-year growth, the annual rate of rent inflation surged to its highest point in nine months, stated the report.

The report’s metrics are based on new listings, not what existing tenants are paying per month.

In terms of rental types, one-bedroom units recorded the fastest annual growth in asking rents, soaring by 15.5 per cent, reaching an average of $1,905.

  • Dearche
    6·
    1 year ago

    I once ran the numbers, and it turned out that even if all my other bills are quadrupled, if my rent alone is halved in return, I’d come out vastly on top. How come one bill come out to more than double of all my other bills combined?