Money Average rent for 2-bedroom apartment in Canada hits $989, up 2.7% in past year

09:06  07 december  2017
09:06  07 december  2017 Source:   cbc.ca

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The average monthly rent for a two - bedroom apartment in Canada last month was $ 989 , a rise of 2 . 7 per cent in the past 12 months.

Average rent for 2 - bedroom apartment in Canada hits $ 989 , up 2 . 7 % in past year . The annual rental market report from the Canada Mortgage and Housing Corporation shows a 3.2 per cent increase in the average rent in October, compared to 3 during the same period last year .

a red and white sign with black text© Provided by CBC

The average monthly rent for a two-bedroom apartment in Canada last month was $989, a rise of 2.7 per cent in the past 12 months.

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Median rent for a two - bedroom apartment is ,310, and ,445 per month for a three-bedroom. - Renters looking for a one-bedroom can expect to pay ,275 per month, up 2 .2 percent over the past year .

454 2 Bedroom Apartments for rent in Los Angeles, CA. Los Angeles rents have increased 0.2% over the past month, and are up slightly by 1.9% in comparison to the same time last year .

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The Canada Mortgage and Housing Corporation said in its annual report Tuesday that rents increased by twice the inflation rate this year, as booming demand for rental units pushed up prices, despite more of them being built.

Some of the highest rent increases were in British Columbia, where average rents in large urban centres such as Kelowna, Victoria and Vancouver increase by 8.6, 8.1 and 6.2 per cent, respectively.

Ontario rents also increased, mainly in and around the Toronto area.

Centres in Ontario with strong rent increases included Belleville (5.9 per cent), Oshawa (5.2 per cent), Hamilton (5.1 per cent), Barrie (4.6 per cent) and Toronto (4.2 per cent).

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Nationally, the average rent for a two - bedroom unit in a purpose-built rental building is $ 989 . Here’s how average rents for a two - bedroom apartment compare in condominiums and purpose-built rental buildings in Canada ’s major cities

Studio apartments in Houston rent for 2 a month, while 1- bedroom apartments ask on average 6 a month; the average rent for a 2 - bedroom apartment is ,205. $ 989 . Northchase Park. 8.

Rents in B.C. and Ontario increased mainly because the vacancy rate declined in each of them, allowing landlords to be choosier about tenants, and to charge more.

That's not the case in Canada's oil-producing provinces, however, where high vacancy rates continue to put downward pressure on rents.

In Saskatoon and Edmonton, the average rent on a two-bedroom apartment declined by 1.3 per cent this year. In Calgary, average rents decreased by one per cent.

In dollar terms across the country, Vancouver is the most expensive rental market in Canada, with the average price for a two-bedroom going for $1,552. Toronto is next highest at $1,404 and Calgary at $1,247.

Rents were lowest in Trois-Rivières ($594), Saguenay ($605) and Sherbrooke ($631), all in Quebec.

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Source: http://ca.pressfrom.com/news/money/-56206-average-rent-for-2-bedroom-apartment-in-canada-hits-989-up-2-7-in-past-year/

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