Canada Mortgage and Housing Corporation (CMHC) released some preliminary data this week on the Canadian Rental Market, offering some great insight and information for renters searching for a new apartment across the country.
From October 2014 – October 2015, average vacancy rates for privately initiated purpose-built rental apartments increased to 3.3 per cent in October 2015 – from 2.8 per cent in October 2014.
The average rent prices for two-bedroom apartments (in existing structures) increased 2.4 per cent between October 2014 and October 2015. In October 2015, the average rent for a two bedroom apartment in new and existing structures across the country was $960.
Here are the Top 5 Most Expensive Apartment Rental Markets in Canada:
- Number 1 -> Vancouver at $1,360 (per month).
- Number 2 -> Calgary at $1,332 (per month).
- Number 3 -> Toronto at $1,274 (per month).
- Number 4 -> Edmonton at $1,259 (per month).
- Number 5 -> Ottawa at $1,172 (per month).
- The least expensive apartment rents are in Trois-Rivieres, Quebec at $581 (per month).
(*based on the CMHC data – which is averaged for 2 bedroom apartment rentals).
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