PADMAPPER (AN APT. HUNTING WEBSITE) REPORTS TORONTO IS NOW CANADA’S #1 HIGH RENTAL CITY

The top ten Canadian cities for median MONTHLY rentals of 1-bedroom apartments, December/2018 – #1 TORONTO ($2,260); #2 VANCOUVER ($2,100); #3 BURNABY ($1,570); #4 MONTREAL ($1,450); #5 VICTORIA ($1,390); #6 BARRIE ($1,210); #7 KELOWNA ($1,250); #8 OTTAWA ($1,250); #9 OSHAWA ($1,200); #10 HAMILTON ($1,180).

TORONTO continues to reign as the most expensive city in the country with one-bedroom rents growing 1.8% to $2,260 while two bedrooms increased a slight 0.7% to $2,850. Notably, two bedroom rent is up 15.9% since this time last year.

VANCOUVER remained second with one-bedroom rents decreasing 0.5% to $2,100, while two bedrooms dropped 0.3% to $3,150.

HAMILTON, Ontario moved up two spots with one-bedroom rents jumping 5.4% to $1,180, while two bedrooms saw more modest growth, up 2.1% to $1,450.

To search the rental market in both Canada and the United States on PADMAPPER visithttps://www.padmapper.com/

Advertisements

RENTING A PLACE TO LIVE IN TORONTO ISN’T FOR THE FAINT OF HEART – SOME STATISTICS FROM ‘NOW’

$1,803
The average rent for a one-bedroom condo
Less than 1%
The current vacancy rate. A healthy rental market requires a rate of 3 to 5%
47%
TORONTO residents who spend more than 30% of their income on housing
47%
TORONTO households that are renters
120 days
Advance notice a landlord is required to give a tenant for renovations
1.8%
Provincial increase guideline for 2019
40,000
The number of affordable rental units Mayor John Tory promises to build in 12 years