Average rent for 2-bedroom apartment in Canada hits $989, up 2.7% in past year

The average monthly rent for a two-bedroom apartment in Canada last month was $989, a rise of 2.7 per cent in the past 12 months.
The average cost of a two-bedroom apartment in Vancouver this year is $1,552, the highest in Canada, according to CMHC figures released Tuesday.

The average monthly rent for a two-bedroom apartment in Canada last month was $989, a rise of 2.7 per cent in the past 12 months.

The Canada Mortgage and Housing Corporation said in its annual report Tuesday that rents increased by twice the inflation rate this year, as booming demand for rental units pushed up prices, despite more of them being built.

Some of the highest rent increases were in British Columbia, where average rents in large urban centres such as Kelowna, Victoria and Vancouver increase by 8.6, 8.1 and 6.2 per cent, respectively.

Ontario rents also increased, mainly in and around the Toronto area.

Centres in Ontario with strong rent increases included Belleville (5.9 per cent), Oshawa (5.2 per cent), Hamilton (5.1 per cent), Barrie (4.6 per cent) and Toronto (4.2 per cent). 

Rents in B.C. and Ontario increased mainly because the vacancy rate declined in each of them, allowing landlords to be choosier about tenants, and to charge more.

That's not the case in Canada's oil-producing provinces, however, where high vacancy rates continue to put downward pressure on rents. 

In Saskatoon and Edmonton, the average rent on a two-bedroom apartment declined by 1.3 per cent this year. In Calgary, average rents decreased by one per cent.

In dollar terms across the country, Vancouver is the most expensive rental market in Canada, with the average price for a two-bedroom going for $1,552. Toronto is next highest at $1,404 and Calgary at $1,247.

Rents were lowest in Trois-Rivières ($594), Saguenay ($605) and Sherbrooke ($631), all in Quebec.


To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

Become a CBC Member

Join the conversation  Create account

Already have an account?