Toronto among the most expensive Canadian cities for renters

The average rents in Toronto for one-bedroom and two-bedroom homes have risen 28% year over year, a new report says.

Overall, the average rent in Canada went above $2,000 in September to $2,043 per month, a report by Rentals.ca and Bullpen Research and Consulting’s latest National Rent Report says.

Nationally, the average rent for all properties on Rentals.ca rose 21.9% since the low of $1,676 per month in April of last year, and increased 15.4% year over year and 4.3% monthly.

The reason is continued strong demand, and the completion of many new purpose-built rental apartments with higher rents.

Toronto was second on the list of 35 Canadian cities for highest average monthly rents in September with a one-bedroom costing $2,474 and second for average monthly rent for a two-bedroom at $3,361.

Year over year, the average rent in September for a one-bedroom in Toronto was up 27.5% and up 27.7% for a two-bedroom.

Month over month, average rents in September for a Toronto one-bedroom rose 6.3% and was up 2.9% for a two-bedroom.

Oakville came in fourth for monthly rents in September with a one-bedroom going for $2,178 on average and sixth for average monthly rent for a two-bedroom at $2,736.

In Oakville, year over year, monthly rents in September for a one-bedroom rose 10.2% and up 16.6% for a two-bedroom.

Burlington finished fifth on the list with an average monthly rent in September for a one-bedroom at $2,165 and seventh for average monthly rent for a two-bedroom at $2,631.

In Burlington, year over year, average monthly rent in September for a one-bedroom was up 18.7% and up 19.1% for a two-bedroom.

Etobicoke came in seventh for average monthly rent in September for a one-bedroom at $2,137 and third for average monthly rent for a two-bedroom at $2,818.

Year over year, average monthly rent in September for a one-bedroom in Etobicoke was up 19.3% and up 20.3% for a two-bedroom.

North York finished ninth on the list of 35 cities for average monthly rent in September for a one-bedroom at $2,022 and eighth for average monthly rent for a two-bedroom at $2,606.

Year over year, average monthly rents in September for a one-bedroom in North York was up 18% and up 24.9% for a two-bedroom.

Brampton came in 10th on the list for average monthly rent in September for a one-bedroom at $2,019 and 13th for average monthly rent for a two-bedroom at $2,453.

Mississauga was 11th on the list for average monthly rent in September for a one-bedroom at $1,947 and 12th for average monthly rent for a two-bedroom at $2,457.

Year over year, average monthly rent in September for a one-bedroom in Mississauga was up 7.7% and up 12.7% for a two-bedroom.