Want To Rent An Apartment In Canada For Under $1,000? Forget It
Most of Canada's rental markets have seen substantial rate hikes over the past year, with Toronto and Vancouver prices for one-bedroom units now heading for the $2,000 mark. And it's becoming decidedly difficult to rent an apartment in most major Canadian cities (and some minor ones) for under $1,000. For the first time ever, Padmapper's monthly survey of rental rates found that the median price for a one- bedroom apartment topped $1,000 in Canada's 10 priciest cities. The survey launched last June. Padmapper The Padmapper data shows the median price for a one- bedroom apartment in Vancouver is $1,990 this month, up 13.7 per cent in a year. Harder-to-find two-bedroom units were up 3.2 per cent, to $3,200. The city remains the priciest region to rent an apartment in Canada. Toronto has seen one- bedroom rents climb 8 .8 per cent in the past year, to $1,850. Two- bedroom units rose to $2,450, up 14 per cent in a year. Market experts say Toronto and Vancouver are...