Rents in Canada have changed because of vaccination rates
After the pandemic crisis, the real estate market is recovering.
Renowned housing search service PadMapper has published its June 2021 apartment rental data.
As experts estimate, the pre-coronavirus level of rents is now being restored. Almost two thirds of the analyzed cities have seen growth in rates. Probably, tenants are guided by the increase in the number of vaccinated residents.
Vancouver, Toronto, Burnaby, Barrie and Victoria were among the top five cities with the most expensive rentals.
In Vancouver and Toronto, rents have been rising for months. In Vancouver, one-bedroom apartment rents are up 1% to $1,950 CAD. A two-bedroom apartment can be rented for $2,730 CAD. In Toronto, a one-bedroom apartment rents for $1,800 CAD and a two-bedroom for $2,320 CAD.
Burnaby has become the third most expensive city in the ranking. A one-bedroom apartment can be rented for $1,700 CAD, a two-bedroom for $2,270 CAD.
Barry, on the other hand, slipped to fourth place. Rents for a one-bedroom apartment fell 4.6% to $1,650 CAD.
In Victoria, rents rose 0.6% to $1,600 CAD.
Among other cities, one-bedroom apartment rents increased in:
- Windsor to $1,100 CAD;
- Abbotsford to $1,330 CAD;
- Halifax to $1,330 CAD.
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A decrease in rent for a similar apartment is observed in the following cities:
- St. Catharines to $1,300 CAD;
- Hamilton to $1,370 CAD;
- Regina to $870 CAD.
For comparison, the March 2021 Canadian rent levels are shown below.
Rental costs in Vancouver
- Renting a one-bedroom apartment — $1,900 CAD;
- Two bedroom apartment for rent — $2,630 CAD.
Rental price in Toronto
- Renting a one-bedroom apartment — $1,750 CAD;
- Two-bedroom apartment for rent — $2,350 CAD.
The cost of renting an apartment in Burnaby
- Renting a one-bedroom apartment — $1,160 CAD;
- Two-bedroom apartment for rent — $2,200 CAD.
Rental prices for apartments in Victoria
- Renting a one-bedroom apartment — $1,660 CAD;
- Two-bedroom apartment for rent — $2,000 CAD.
Cost of rent in Berry
- One bedroom apartment for rent — $1,570 CAD;
- Two-bedroom apartment for rent — $1,690 CAD.
