Rent in Brampton shot up three times faster over the last year than the national average in Canada, according to a rental report.
Data released by Rentals.ca revealed average rents for one-bedroom units increased by 8.9 per cent across Canada on a year-over-year basis from September.
The report also shows Brampton boasts some of the most costly rental prices, as it is among the top five most expensive in the country for one-bedroom units at $2,274 per month – though still $346 less each month than what it costs in Toronto. The rental cost of an average two-bedroom unit in Brampton is also significantly cheaper than in Toronto, going for $763 less at $2,650 per month.
According to the latest census by Statistics Canada in 2021, Brampton had the third largest immigrant population in the province and ranked fifth across Canada. Roughly 21 per cent of Brampton’s population comprises non-Canadian citizens, according to the census, with more than half of the city being born outside of Canada.
Outside of what Brampton offers newcomers, Sandhu pointed to the province’s affordable housing crisis as another driver ballooning Brampton’s rental prices. Sandhu recommends signing on with others to crack into Brampton’s market, whether prospective residents are seeking a place to rent or buy. A final plan for the pilot program is expected to be announced sometime this year, and would apply to select wards in Brampton with higher volumes of rental units.
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