A new report shows that the average monthly asking price for a rental home in Canada hit a record $2,202 in May, up 9.3% from last year and 0.6% from April.
The report from Urbanation and Rentals.ca indicates that the average asking rent exceeds the $2,200 mark for the first time in the country.
According to the report, which analyzes monthly listings on Rentals.ca’s network, the average asking rent for a one-bedroom unit in Canada was $1,927 in May, up 10.7 per cent from a year ago. a year, while the average asking price for a two-bedroom unit was $2,334, up 12.1 percent.
On average, asking rents for purpose-built rental homes increased 13.7% in May from a year earlier to $2,146.
That’s four times the increase in condo rents, which average $2,312, up 3.4 percent.
All provinces recorded increases in average asking rent over the past year, with Saskatchewan leading the way with a 21.4 per cent jump to $1,334.