Vancouver had Canada’s highest average rent for a two-bedroom apartment in January, with Toronto in a very distant second place.
The average rent for a two-bedroom apartment in Vancouver increased 4% to $3,150 in the month. This is almost 60% higher than the average rent for this home type in Toronto, which grew 3.7% to $1,970 in the month.
For one-bedroom apartments, Vancouver still takes top spot in the country, with an average rent of $1,870 – up 3.9% compared with December. Toronto is once again in second place with an average rent of $1,550, making Vancouver 20% more expensive for this home type.
One-bedroom apartment rents increased 4.1% in Victoria in January, reaching $1,270. For a two-bedroom apartment in that city, the average price declined 2% in the month to $1,490.
Top 10 highest rents across Canada in January (source: Padmapper):
Check out BIV’s podcast for the week of January 18, 2017: