The average rent for both one- and two-bedroom apartments in Vancouver remains the highest in Canada, according to Zumper (formerly PadMapper).
One-bedroom apartments went for $2,130 in B.C.’s largest city in January, with Toronto coming in a distant second at $1,850.
As for two-bedroom units, the average for Vancouver was $3,050, which is 27% higher than the average of $2,400 in Toronto.
Victoria was in third place for both home types, with an average rent of $1,840 for one-bedroom apartments and $2,300 for two-bedroom units.
“In the top markets, Vancouver was the only city that had one-bedrooms priced above the $2,000 threshold and Victoria’s one-bedroom rent was only $10 behind Toronto’s,” Zumper said in its report.
“Over half of the top 10 cities had double-digit year-over-year growth rates for one and two-bedrooms, signaling a return of demand in the pricier markets.”
Kelowna came in fourth place in the country, with an average rent of $1,630 for one-bedroom apartments and $2,040 for those with two bedrooms.
Zumper tracks median rents for all homes that are currently available to rent or vacant and does not include those homes that are already rented out.
The top 10 highest rents across Canada in January (source: Zumper):