A recent reports find that Vancouver has the second highest average rent across Canada for one-bedroom apartments and the highest rent for two-bedrooms.
Conducted by Padmapper.ca, the report analyzes rental data from hundreds of thousands of active listings across the country. From there, listings are aggregated on a monthly basis to calculate median asking rents for the top 24 most populous metropolitan areas.
For the month of December, Toronto remained the most expensive city in Canada with one-bedrooms down 2.1% to $2,300 a month; two-bedrooms cost $3,000 a month. Vancouver came next, with one-bedroom costs staying relatively the same at $2,200 a month. Two-bedrooms, however, saw a 5% drop to $3,030.
Burnaby was the third most expensive market, with one-bedroom rents falling 2.9% to $1,700; two-bedrooms increased 0.9% to $2,350. Victoria followed in fourth, with one-bedroom rents increasing 2.6% to $1,560, while two-bedroom rents increasing 4.8% to $1,740. Report authors note that, "on a year over year basis, two bedroom rent here is up 15.2%."
The fifth most expensive market was Montreal, with one-bedroom rent decreasing 2% to $1,500 and two-bedrooms staying flat at $1,950.