Brampton moved up the list of Canada’s most expensive cities for renters last month, with an average price more than 10 per cent higher than the national average.

The latest National Rent Report shows Brampton edged up from No. 16 to No. 15 on the monthly round-up of Canadian rental prices, up less than 1 per cent from $2,259 in August to $2,261 in September. Halifax came in 14th with an average of $2,324, while Victoria ranked 16 with an average rent of $2,253.

Mississauga stayed at 13th on the list of most expensive cities for rent with a total average of $2,337 in September, down from $2,365 in August.

But the Canada-wide average across all property and bedroom types was $2,034 – $227 cheaper than the Brampton average, according to the numbers Rentals.ca and Urbanation.

The nation average was down 4.2 per cent year-over-year, marking the 24th consecutive month of annual decline.

And while average rents for all property types fell 4.8 per cent year-over-year in Ontario last month, Brampton saw annual increases of 1 per cent for one-bedroom rentals ($1,990 per month) and 3.4 per cent for two-bedroom units ($2,334 per month.)

Nationally across all property types, three-bedroom rents saw the smallest annual decline of all unit sizes, down 2.8% to $2,489, followed closely by studio units (-2.8% to $1,571). Two-bedroom rents fell 3.7% to $2,138. Units with four or more bedrooms, primarily houses and townhomes, saw the steepest decline, down 4.4% to $2,886, matched by one-bedroom units (-4.4% to $1,756).

For purpose-built and condominium apartments, the average asking rents Canada-wide was $2,038 in September, down 0.1 per cent from August and down 3.3 per cent from September last year.

Ontario also had a 0.8 drop in apartment and condo rents in September, marking  the end of four consecutive monthly increases from May to August.

Last 30 Days: 56,988 Votes

All Time: 1,562,956 Votes

1542 VOTES
Who will you vote for as mayor of Toronto?

“Two straight years of falling rents is the longest downturn the Canadian rental market has seen in recent history. Our research shows supply has been the main driver of this correction, and in key markets like Toronto and Vancouver, new supply is moving past its peak,” said Shaun Hildebrand, President of Urbanation.

“Rents in both cities have trended higher over the past six months, and annual declines have narrowed significantly as renters come off the sidelines. Where Toronto and Vancouver go, the rest of the country follows.”

Vancouver ranked second on the list with an average rent of $2,754, while Toronto came in 4th at $2,556.


INsauga’s Editorial Standards and Policies

Stay in the know.

Subscribe now to receive our daily email of today’s top stories in your city!