Toronto one-bedroom rents catching up to Vancouver, according to PadMapper

The average rent for a Vancouver one-bedroom apartment was $1,990 in December, according to PadMapper’s latest data, which tracks median rents for all homes that are currently available to rent or vacant and does not take into account those homes that are already rented out.

This is a drop of 4.3% compared with November, and although Vancouver remains the most expensive city in the country, the decrease puts the average rent for this home type within $20 for the same home type in Toronto. In Canada’s largest city, the average rent for a one-bedroom suite was $1,970 in the month – up 2.6% compared with November.

Two-bedroom rents remain considerably higher in Vancouver than in Toronto. In this city, the average rent for this home type was $3,100 in December, which is 26% higher than the Toronto average of $2,460.

Year-over-year, the average rent for a one-bedroom Vancouver apartment increased 10.6%; for two bedrooms, the jump was 2.3%.

Top 10 highest rents across Canada in December (source: Padmapper):

PadMapper compiles rental data for Canada’s 25 biggest metropolitan areas in terms of population size.

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@EmmaHampelBIV