If you want to save on rental housing in Canada, you should take a closer look at these cities.
Life in a big city is expensive. According to the latest National Rent Rankings report, the average monthly rent in Canadian cities increased by another 1.9% in July compared to June after having risen by 4% in May. Ontario has the worst housing market situation: 10 out of 12 Canada’s most expensive cities are located in this province.
In Q2 2019, the average monthly rent in Ontario stood at C$1,830, which is almost C$300 more than in British Columbia. Also, the average monthly rent for all types of residential real estate in Ontario has steadily increased from October 2018 to C$2,279.
According to MoneySense, Canada’s most expensive cities are major urban centres, as well as cities in Alberta, Saskatchewan, Manitoba, and the northern regions.
At the same time, the MoneySense report says that even in Ontario you can find cities with low rental rates. Also worth paying attention to the province of Quebec.
Here are Canada’s 8 best cities to live in (with average prices per month, CAD):
- Sault Ste. Marie, Ontario: 890
- Rimouski, Quebec: 600
- Saint-Georges, Quebec: 500
- Timmins, Ontario: 700
- Cornwall, Ontario: 700
- Quesnel, British Columbia: 700
- Bécancour, Quebec: 550
- Sept-Îles, Quebec: 550
This year, Toronto continues to rank the highest in the average monthly rent of homes with one bedroom standing at C$2,266. Vancouver has surpassed Toronto in the average monthly rent for homes with two bedrooms (C$2833). Gatineau, Quebec City, and Lethbridge have also featured at the bottom of the monthly National Rent Ranking for rental prices for both one- and two-bedroom homes.
Below is a list of the 15 most expensive cities to rent in Canada in July 2019.
