Figures from Padmapper show that the average rent for a one-bedroom apartment in Toronto this month is $2,020, up 2.5% from last month; in Vancouver it’s $2,000, up 0.5% month-over-month and 5.3% year-over-year.
For two-bedroom apartments, rents are still more expensive in Vancouver ($3,200 vs. $2,520) but the rise in Toronto was 14.5% year-over-year compared to the modest 0.6% in Vancouver.
Elsewhere, there have been double digit annual rent rises for one bedroom apartments in several markets including Montreal ($1,310); Barrie ($1,260); Kelowna ($1,130); and Hamilton ($1,050).
Halifax, Regina, and Quebec have all seen average one-bedroom apartment rents decrease year-over-year.
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Toronto is now Canada's most expensive rental city following a 15.4% jump in the past year.