The average rent for a one-bedroom apartment in Toronto was $2,040 in April, which was $30 higher than the Vancouver average of $2,010, according to PadMapper’s latest data, which looks at 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.
While Vancouver saw a small increase of 0.5% in the month, Toronto’s average one-bedroom rent jumped 3.6% in the month
“Toronto and Vancouver continued their tug of war for first place with Toronto coming out on top last month with a larger one-bedroom rent spike,” PadMapper said in its report.
Meanwhile, Vancouver continues to have the highest two-bedroom rent in the country, by a large margin. The average rent for this home type increased 1.6% in April, reaching $3,200. Toronto saw a 4.8% increase, to an average of $2,620.
Year-over-year, the average rent for a Vancouver one-bedroom apartment increased 5.8%, while Toronto saw a jump of 14.6%. Two-bedroom rents in Vancouver were flat over the past 12 months, while in Toronto the average increased 15.4%.
Top 10 highest rents across Canada in April (source: PadMapper):
PadMapper compiles rental data for Canada’s 25 biggest metropolitan areas in terms of population size.
@EmmaHampelBIV
