If you live in or near Toronto or Vancouver, and you make less than $70,000 a year, rent is probably your biggest expense and your biggest source of stress. Both areas continue to be the most expensive places to rent in the country—and with vacancy rates at around one percent, consider yourself lucky if you’re actually in a place you can afford.
The average monthly rent in Canada is $1,940 according to the latest data from Rentals.ca. The November National Rent report looked at rates for 36 cities across Canada and found that overall, rents have increased by 5.5 percent in the last year.
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Toronto is the most expensive place to rent, where the average monthly rate for a one-bedroom is $2,320. North Vancouver ($2,154) and Etobicoke ($2,051), Ontario, were second and third priciest.
The cheapest places to rent are St. John’s ($870), Newfoundland, Quebec City ($882), Lethbridge ($917), Alberta and Saskatoon ($939), Saskatchewan.
Canada’s rental landscape is a “tale of three markets” according to Ben Myers, president of Bullpen Research and Consulting. Rental rates are high in Ontario and British Columbia, where demand is strong and supply is tight. Alberta and Saskatchewan are dealing with flat or falling rents while the rest of the country’s rents are relatively stable. With this in mind, here’s a look at what the average rent of about $2,000 a month gets you across Canada.
Vancouver
This “one of a kind apartment” in the city’s West End neighbourhood is billed as “the perfect bachelor(ette) pad” with its ocean views, stainless steel appliances, mirrored closets and kitchen counters made out of something called quartzite. In a city where the average rent is $1,987, this place comes in at $1,950. You also have access to a shared rooftop pool and deck.
Calgary
You can choose between a one-bedroom ($1,580) or two-bedroom ($1,925) in this building just north of downtown Calgary and still come in under budget. Both options are well above the average rent in Calgary which is $1,190.
While the listing includes plenty of photos of the “unprecedented indoor and outdoor amenity spaces” including a lounge, chef’s kitchen, fitness centre with spa-like change rooms and steam showers, there are way less images of the actual apartments. There’s a lot of fine print in the description, including the disclaimer that “photos are not of exact suite available or indicative of product quality and finishing.”
Saskatoon
I just learned that Saskatoon is the “Paris of the Prairies” because it has a lot of bridges. That’s all it takes, I guess. Because it’s one of the cheapest major cities to rent in, your average Canadian rent goes a long way, where $1,895 gets you a 6-bedroom bungalow (split six ways that’s $315 each). It comes with a double detached garage and a “spacious fenced in backyard.”
Toronto
This is a “newly renovated” junior one-bedroom is $1,895, which is a fancy way to describe a bachelor or studio apartment. You get about 500 square feet and amenities like a yoga room and outdoor pool. There’s no air conditioning (have fun during those humid summers) and hydro is extra.
Based on the description you get “spectacular lake views” and “stunning CN Tower views,” depending on the floor and the side, of course. According to the ad, this apartment is in Parkdale, which is just west of downtown.
City: Ottawa
Considering rents in Ottawa are below the national average, you can get a pretty swanky place downtown, close enough to both major universities, for less than $2,000. Unlike the one in Toronto, this “newly-renovated junior one-bedroom” for $1,895 actually looks like it’s been totally redone.
Interesting that there are more pictures and descriptions of the common areas than the actual apartments. Amenities include a fitness centre that’s open 24/7, rooftop patio with not one but two salt water hot tubs, various firepits and BBQs. Not only is this place pet friendly, they advertise a “Dog Run” and a “Pet Spa,” which should tell you something about the people that live here.
Montreal
Montreal rents fall in the middle of the pack. For $1,925 you can get a two-bedroom apartment in what’s described as the “prestigious and highly sought-after borough of Plateau Mont-Royal, with the beautiful Parc Lafontaine at its heart.”
St. John’s
Imagine being able to rent an actual house. You know, those blocky-looking things people used to live in decades ago. Well, in St. John’s, the cheapest Canadian city to rent in, you can. It was hard to find anything in St. John’s that was above $1,000. But not impossible. This three-bedroom house in the heart of downtown, is a “sure to impress property” for $1,950 ($650 divided by three). The master bedroom has an ensuite shower, jacuzzi tub overlooking the fireplace and a walk out patio.
The backyard looks pretty sweet too—it’s fully landscaped and terraced with a BBQ area. And if you’re wondering how much it would cost to furnish the place, don’t sweat it—it’s fully furnished, if you don’t mind the “executive style” decor.
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