Rental demand in Canada continues to outpace supply, rent in many cities soars year-over-year: Zumper
Rental demand in Canada continues to outpace supply, rent in many cities soars year-over-year: Zumper
The Montreal skyline as seen from Mount Royal Friday, November 10, 2017 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
Zumper’s most recent Canadian Rent Report shows tenants in 15 of the country’s most populous cities are paying more for rent increase on a monthly basis.
“With the national vacancy rate for rentals at less than 2 per cent, the demand in Canada has continued to outpace the available supply, which has led to spiking rents in most of the cities in this report,” the rental website said.
The data comes from Zumper’s hundreds of thousands of active rental listings across Canada and, perhaps unsurprisingly, Vancouver remained the most expensive city in the country to rent—with the median monthly rent for a one-bedroom apartment at $2,600 and for a two-bedroom, $3,800.
The data is based on new listings, not on what long-term renters are paying in their respective cities.
Vancouver’s median rent for a one-bedroom apartment is up by 18.2 per cent year-over-year, and 21 per cent year-over-year for a two-bedroom unit.
Toronto's is the second-priciest rental market in Canada according to Zumper, where landlords are asking for a median of $2,400 per month for a one-bedroom apartment and $3,090 a month for a two-bedroom.
The data shows rates for both apartment sizes in Toronto jumped by more than 20 per cent since this time last year.
Burnaby, B.C., came in at No. 3 with the median list price for a one-bedroom apartment moving up 14.1 per cent year-over-year to $2,350 per month, while two-bedroom units cost a median of $3,000 monthly—an increase of 15.8 per cent since last year.
Rounding out the top five priciest rental markets in Canada, Victoria and Kitchener, Ont. came in fourth and fifth, with landlords asking a median monthly rent of $2,000 and $1,880 for one-bedrooms, and $2,500 and $2,250 per month for two, respectively.
The report also found Calgary had the fastest-growing monthly rent in the country. Calgary moved up four spots and made it into the top 10 with a 6.1 per cent month-over-month increase in median rent for a one-bedroom unit. Calgary also had the fastest-growing median rent year-over-year, soaring by 42.3 per cent for a one-bedroom apartment and 32.9 per cent for a two-bedroom unit.
Edmonton had the second fastest-growing median rent month-over-month, followed closely by Saskatoon and Quebec City. In Edmonton, the rent landlords were charging rose by 5.8 per cent for a one-bedroom unit and 6.2 per cent for a two-bedroom apartment month-over-month.
The median monthly rent for a one-bedroom apartment in Kelowna, B.C., and the Ontario cities of Barrie, London, Kitchener and Kingston declined month-over-month. And although Vancouver, Victoria and Regina saw no change in median rent for a one-bedroom apartment month-over month, all three cities saw rent go up by at least 9.3 per cent for a one-bedroom unit year-over-year.
Reporting for this story was paid for through The Afghan Journalists in Residence Project funded by Meta.
Correction
A previous version of this article referred to the rental rates as averages. It has been corrected to reflect the rates are medians.
Donald Trump said Thursday that he has been indicted on charges of mishandling classified documents at his Florida estate, igniting a federal prosecution that is arguably the most perilous of multiple legal threats against the former U.S. president as he seeks to reclaim the White House.
The Supreme Court of Canada will not hear the appeal of an Alberta woman who was unwilling to be vaccinated in order to get a life-saving organ transplant.
What happens to the brain when you take gravity away? According to a new study looking at astronauts both before and after space travel, that experience causes physical changes that researchers believe requires at least three years between longer missions to recover from.
As wildfires rage across Canada in what’s being called an unprecedented season, one expert says there’s more that individuals and communities can do to adapt and prevent forest fires from causing widespread devastation.
Rescuers in Washington state are praising the resourcefulness of a 10-year-old girl who survived on her own for more than 24 hours in the rugged terrain of the Cascade mountains after getting lost while out with her family.
Air pollution from wildfires remained well above healthy levels across much of southern and northern Ontario and several communities in British Columbia and Alberta on Thursday.
Post tropical storm Fiona showed how quickly Canadians can be displaced by climate change. W5 looks into whether more people living in vulnerable areas will have to consider moving in the years to come.
Convicted murderer Daniel Jolivet, in prison for the past 30 years, has maintained his innocence since the day he was arrested. W5 reviews the evidence he painstakingly assembled while behind bars.
W5 Producer Shelley Ayres explains how she was in awe to meet what the Guinness Book of World Record's has named the World's Tallest Teenager, a 17-year-old from Quebec who plays for Team Canada.
CTV W5 investigates what authorities knew about plans to smuggle cocaine out of the Dominican Republic on a Toronto-bound Pivot Airlines flight. The airline's crew is demanding justice following their eight-month detention.
Gordie Sampson has written hit songs for some of the biggest names in country music, including Carrie Underwood and Luke Bryan. CTV W5 speaks with the Grammy winner from small-town Nova Scotia about his creative process.
Video has surfaced showing a Mississauga, Ont. transit bus plowing into stopped traffic in a crash that left one person dead and at least eight injured on Thursday morning.
As interest rates continue to rise, the cost of buying a house in Ottawa and across Canada is becoming more expensive. Many homeowners are now forced to extend their mortgage payments.
The grief-stricken parents of a young teen killed in his driveway in Barrie in 2021 delivered haunting victim impact statements in court Thursday, recalling the day their "world was destroyed."
A long stretch without rain combined with high temperatures and dry ground conditions has many municipalities across Simcoe County with an extreme fire danger rating and burn ban.
The shifting winds late Thursday morning are predicted to push high levels of air pollution over the City of Barrie and surrounding areas from smoke emanating from wildfires in Quebec and northeastern Ontario.
University of Guelph (U of G) researchers have been looking at ways to breed dairy cows that burp out less methane, a harmful greenhouse gas emission contributing to climate change.
An 18-year-old woman riding a bike was taken to an out-of-region hospital with what police call “possible serious injuries” after a crash involving a sedan in Kitchener.
Donald Trump said Thursday that he has been indicted on charges of mishandling classified documents at his Florida estate, igniting a federal prosecution that is arguably the most perilous of multiple legal threats against the former U.S. president as he seeks to reclaim the White House.
In the summer of 2022, London, Ont. barber and business owner Eddie Lopez suffered a brain aneurysm, heart attack, stroke, and seizure. He remains in hospital to this day.
Donald Trump said Thursday that he has been indicted on charges of mishandling classified documents at his Florida estate, igniting a federal prosecution that is arguably the most perilous of multiple legal threats against the former U.S. president as he seeks to reclaim the White House.
Quebec's precarious wildfire situation is expected to remain stable over the next 48 hours but residents displaced by the raging forest fires likely won't be able to return home until early next week, Premier Francois Legault said Thursday.
An Ontario man charged Wednesday with first-degree murder in the death of Claudia Iacono, the daughter-in-law of the late Montreal Mafia associate Moreno Gallo, was arrested the day after the killing in Ontario on unrelated drug charges, public records show.
New Brunswick students under the age of 16 who identify as trans and non-binary won't be able to officially change their names or pronouns in school without parental consent.
The Halifax Regional Municipality says it will announce Thursday when more residents can return to their homes in communities impacted by the Tantallon wildfires.
Two years after two statues were knocked down and damaged at the Manitoba Legislature, one is now back up and Indigenous leaders are upset by the decision.
Donald Trump said Thursday that he has been indicted on charges of mishandling classified documents at his Florida estate, igniting a federal prosecution that is arguably the most perilous of multiple legal threats against the former U.S. president as he seeks to reclaim the White House.
Premier Danielle Smith says the government is bringing in arson investigators from outside the province to trace the cause of some wildfires during an unprecedented season in Alberta.
Tumbler Ridge, a community with a population of 2,400 in northeastern B.C., has been ordered to evacuate Thursday due to the danger posed by an encroaching wildfire.
More than 70 guests have RSVP'd for a Squamish couple's beach wedding in Tofino, but the wildfire-related closure of Highway 4 has upended their plans.
As forest fires rage across the country, experts are sounding the alarm over the physical and psychological impacts of the wildfires and saying that they pose a serious public health issue, which individuals and governments need to acknowledge and act upon.
The Supreme Court of Canada will not hear the appeal of an Alberta woman who was unwilling to be vaccinated in order to get a life-saving organ transplant.
Social media users are sharing a surprisingly effective way to protect yourself indoors from the toxic wildfire smoke blanketing much of the East Coast: a box fan, four air filters and a whole lot of duct tape.
Scientists have documented the first-known instance of a 'virgin birth' by a crocodile, which had been living in isolation for 16 years at Costa Rican zoo, according to a study published Wednesday.
The James Webb Space Telescope set its sights on a galaxy 20 million light-years away, capturing a dazzling star-forming galaxy in images streaked with the signature of passing asteroids.
Social media users are sharing a surprisingly effective way to protect yourself indoors from the toxic wildfire smoke blanketing much of the East Coast: a box fan, four air filters and a whole lot of duct tape.
A lawyer for Prince Harry finished setting out the royal's case against a newspaper publisher on Thursday, quizzing a former tabloid reporter about information inserted into stories by then-editor Piers Morgan.
The many lives of Arnold Schwarzenegger get neatly divided into three equal parts in 'Arnold,' a Netflix documentary-cum-self-led tour through his remarkable success story as bodybuilder, actor and politician, each more improbable than the other.
Parents are finding it tougher than ever to save for their children's post-secondary education, but the mainstays of post-secondary saving remain key tools, as do clear goals and plenty of planning.
Irving Oil says it’s undertaking a “strategic review” with an eye to its future. In a release Wednesday, the company says it’s looking at a number of options, including the sale of its assets.
Rescuers in Washington state are praising the resourcefulness of a 10-year-old girl who survived on her own for more than 24 hours in the rugged terrain of the Cascade mountains after getting lost while out with her family.
Bret Hart's longtime connection with the late Iron Sheik was first made in the early 1970s when an Iranian amateur wrestler -- real name Hossein Khosrow Ali Vaziri -- came to Calgary to learn from promoter Stu Hart.
Racing at Belmont Park was cancelled and the Washington Nationals' home game against the Arizona Diamondbacks was postponed Thursday due to poor air quality from wildfires in Canada.
A group of climate activists claimed responsibility on Wednesday for deflating the tires of sport utility vehicles in Denmark's capital. More than 100 vehicles were vandalized, police said.
Insurance industry group Equite Association says vehicle theft in multiple provinces surged last year. Vehicle theft was up by 50 per cent in Quebec year over year, by 48.3 per cent in Ontario, by 34.5 per cent in Atlantic Canada and by 18.3 per cent in Alberta.
The Montreal skyline as seen from Mount Royal Friday, November 10, 2017 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
