The average asking rental price in Canada surpassed $2,200 to reach a record high in May, according to a new report.
, the report found that the average monthly asking price for all residential rentals increased by 9.3 per cent year-over-year to hit $2,202 in May.Vancouver continued to lead the country with the most expensive asking price for a one-bedroom rental at $2,671, followed by Burnaby, B.C. at $2,545, Toronto at $2,479 and Mississauga, Ont. at $2,339.
“Canada’s rental market is entering the peak summer season with continued strength,” Urbanation president Shaun Hildebrand stated in a news release. “Markets such as Vancouver and Toronto that had experienced some softening in rents in previous months are stabilizing near record highs, while many of the country’s mid- and small-sized cities are still posting double-digit rent increases.”B.C. also led Canada with the highest average rental asking price at $2,526 for an apartment or condo, a 2.
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