The average rent in Ottawa is up by 1.5 per cent for a one bedroom apartment and 1.2 per cent for a two bedroom apartment since last month, according to Rentals.ca.
As of August, the average rent of a one bedroom apartment in the capital is $2,015, which is up by 3.3 per cent since last year, and that of a two bedroom apartment is $2,506 – up by 6.3 per cent since 2023, reads the report.
The average rent in Toronto is $2,443 for a one bedroom and $3198 for a two bedroom in August. In Vancouver, the average rent is $2,761 for a one bedroom and $3,666 for a two bedroom for the same month.
Saskatoon has the cheapest rent in the country, with an average rent of $1216 for a one bedroom, and $1,458 for a two bedroom apartment, as of August.
According to the report, Ontario and British Colombia are the only two provinces that had a decrease in the year-over-year rent increases, with BC down two per cent to an average of $2,570, and Ontario down 1.5 per cent to an average of $2,396.
The average rent in Canada was $2,201 in July for all property types in – an increase of 5.9 per cent from a year ago, reads the report, noting that it’s “the slowest annual rate of growth over the previous 31 months.”