The cost to rent a one-bedroom apartment in Ottawa inched closer to $2,000 a month in September, as renters saw a double-digit increase in rental rates.
The average cost to rent a one-bedroom apartment in Ottawa increased 17.7 in September from September 2021 to $1,909 a month, according to the monthly report from Rentals.ca. A two-bedroom apartment costs $2.468 a month in September, up 21.2 per cent from a year ago.
The monthly report from Rentals.ca shows the average cost to rent a one-bedroom apartment across Canada in September was $1,743, up 2.7 per cent from a year ago. Rent for a two-bedroom apartment across the country increased 15.4 per cent in September to $2,217.
A one-bedroom apartment in Gatineau cost $1,561 to rent in September, up 7.1 per cent from a year ago. Two-bedroom apartment rental rates increased 1.9 per cent in Gatineau last month to $1,840.
Nepean saw one of the smallest rental increases in Canada in September. The cost to rent a one-bedroom apartment in Nepean increased 1.1 per cent in September to $1,550.
Rentals.ca says demand for apartments is cooling in Ottawa, based on pageviews per listing on its website.
Vancouver has the highest rents for one-bedroom and two-bedroom apartments in Canada. The average cost of a one-bedroom apartment in Vancouver is $2,590, and $3,707 for a two-bedroom.
The October 2022 National Rent Report found the average rent prices for all rental properties in Canada hit $2,043 in September, up 15.4 per cent from September, 2021. The average apartment and condominium apartment rental rate in Ottawa was $2,108 last month, up 15 per cent from a year ago.
Average rent for a one-bedroom apartment in Canada in September
1. Vancouver, B.C. $2,590
2. Toronto $2,474
3. Burnaby, B.C. $2,292
4. Oakville, Ont. $2,178
5. Burlington, Ont. $2,165
6. Victoria, B.C. $2,148
7. Etobicoke, Ont. $2,137
8. Guelph, Ont. $2,052
9. North York, Ont. $2,022
10. Brampton, Ont. $2,019
12. Ottawa $1,909
26. Gatineau $1,561
27. Nepean $1,550
View original article here Source