Canada's average rent hits record high in October: Report

 

In October, average rents in Canada reached new highs. The average rental price in Canada has hit $2,149, according to recent data released by the Canadian rental listing website Rental.ca. This is the most in nine months. Rental rates for one-bedroom apartments increased at the fastest annual pace. The median rent for a one-bedroom apartment increased by 15.5 percent to $1,905.Two-bedroom rents increased 13.1% year on year to $2,268. Built-to-order and condominium apartment rents increased 1.6 percent month over month and 13.3 percent year over year in September to a record high of $2,078. The survey also finds that rental rates have grown considerably in Nova Scotia, Alberta, Quebec, and British Columbia.