Toronto 
Average rent in Canada is showing no signs of slowing down as the average listed rent for all types of rental units increased 4.9% over the past three months says Rentals.ca, Urbanation and Bullpen Research & Consulting in their November National Rent Report.
The average rent was $2,024 in November finds the report based on the rentals listed on Rentals.ca Network in 35 cities across Canada. This represents an increase of 12.4 per cent year over year and 2.5 per cent from October.
Vancouver and Toronto continue to top the rental market in the country.
The average monthly rent in Vancouver for a one-bedroom home was $2,633, and the average monthly rent for a two-bedroom was $3,598. This corresponds to a year-over-year increase of 20.5 per cent for a one-bedroom and 21.3 per cent for a two-bedroom.
Average monthly rent in Toronto for the month of November for a one-bedroom was $2,532 (up 23 per cent year over year) and for average monthly rent for a two-bedroom was $3,347 (up 20.7 per cent).
During the month of November, the average rent reached $1,793 – an annual growth of 21.9 per cent.
As per the report, Atlantic Canada has the fastest appreciating rental market in Canada, with a 31.8% annual growth in November for purpose-built and condominium rentals. It is the third most expensive rental market in Canada behind British Columbia and Ontario with average rents 1,716 for one-bedroom units and $2,032 for two-bedroom units.
Average rents rose 16 per cent annually in British Columbia and 15.3 per cent annually in Ontario for purpose-built and condominiums.
Alberta, Saskatchewan, and Manitoba saw a year-over-year increase of 15%, 12.9% and 9.8% respectively for purpose-built and condominiums while Quebec’s average rents rose 6.3 per cent.
Prairie cities of Lloydminster, Grande Prairie, Red Deer, Regina and Saskatoon are the cheapest places to rent among the 35 cities analyzed by Rentals.ca Network which includes data from Rentals.ca, Rentfaster.ca, Louer.ca and TorontoRentals.com.
