Toronto 
Rentals.ca has released it’s annual rent report, which analyses the state of rental market from coast to coast.
The report finds that the rentals rates increased by an average of 4.3%.
As expected, Ontario and British Columbia have the highest rental rates in the last quarter of 2019, with an average of $2,318 and $1,928 per month respectively on average (all property types). The lowest average rent, $954 per month, is in Newfoundland and Labrador.
Credit: Rentals.ca
Analysis of rents in Canadian cities by Rentals.ca found that average rent for a one bedroom unit in Toronto is $2299 and $2914 for a two bedroom unit. The year over year increase is as much as 13% for a two bedroom unit. Oakville, North York (Toronto), Mississauga and Vancouver took the next four slots. Vancouver has the 2nd highest rental rates across the country for 2 bedroom unit.
St. John’s and Saskatoon are the cheapest places to rent in Canada with rates of $885 and $906 per month respectively for a 1 bedroom unit and $1088 and $1065 for a two bedroom unit. Lethbridge, Alberta has the cheapest rental rates for a two bedroom unit at $1022.
Ontario cities of London and Hamilton are mid tier cities in terms of rental rates, but the year over year rates increased by as much as 30% for London ($1195 for 1 bed room) and 29% increase for Hamilton, reaching an average of $1505.
While rental rates increased in all other provinces, the average rates reduced in most Alberta cities with rates in Calgary and Edmonton decreasing by 7% for single bedroom unit. Though average prices decreased, rental rates in select pockets in Calgary like Centre Pointe West and Oak Hill Estates increased by as much as 11.6% and 9.4% respectively.
