The cost to rent a one-bedroom apartment surpassed $2,000 a month in Ottawa in August, as the average asking rent reached a record high across Canada.
New statistics from Rentals.ca show the average rent new tenants were asked to pay for a one-bedroom apartment in Ottawa last month was $2,063 a month, up 11.5 per cent from one year ago. The average asking rent for a one-bedroom apartment increased from $1,979 in July and $1,925 in May.
The average cost to rent an apartment was $2,226 a month in Ottawa in August, up 11.9 per cent from August 2022.
A bachelor apartment cost $1,686 a month, a two-bedroom apartment rented for an average of $2,535 a month, while a three-bedroom apartment rented for an average of $2,789.
Rentals.ca says the average asking rent in Canada reached a record $2,117 in August, up 1.8 per cent from July and a 9.6 per cent increase from August 2022.
"Over the last three-month period between May and August, asking rents in Canada have increased by 5.1 per cent or by an average of $103 per month," Rentals.ca says in its monthly report.
The average asking monthly rent has increased $120 a month in Ottawa since May.
Vancouver has the highest asking monthly rent in Canada at $3,316 a month, followed by Oakville at $3,007 and Toronto at $2,898.
The average asking rent in Montreal in August was $2,001, the first time the average annual rent surpassed $2,000, according to Rentals.ca.
Ottawa had the highest month-over-month increase in asking rents among major Canadian cities, up 4.5 per cent in August from July.
https://news.google.com/rss/articles/CBMiW2h0dHBzOi8vb3R0YXdhLmN0dm5ld3MuY2EvaGVyZS1zLWhvdy1tdWNoLWl0LWNvc3RzLXRvLXJlbnQtYW4tYXBhcnRtZW50LWluLW90dGF3YS0xLjY1NTkxODbSAQA?oc=5
2023-09-13 10:45:00Z
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