{"id":20142,"date":"2022-06-22T10:10:00","date_gmt":"2022-06-22T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=20142"},"modified":"2022-06-17T09:13:28","modified_gmt":"2022-06-17T16:13:28","slug":"canadian-rental-prices-have-seen-the-highest-3-7-m-m-increase-in-years","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/06\/canadian-rental-prices-have-seen-the-highest-3-7-m-m-increase-in-years\/","title":{"rendered":"Canadian Rental Prices Have Seen The Highest 3.7% M\/M Increase in Years"},"content":{"rendered":"<p style=\"text-align: justify;\">A new report finds that rental prices across Canada have seen the biggest month-over-month increase in years \u2014 and Vancouver continues to see the highest rent in the country.<\/p>\n<p style=\"text-align: justify;\">Online apartment rental platform Rentals.ca has released its June 2022 National Rent Rankings report, which analyzes the average rental prices for its listings in May.<\/p>\n<p style=\"text-align: justify;\">Across Canada, the average rent for apartments in May was $1,888, which represents a year-over-year increase of 10.5%.<\/p>\n<p style=\"text-align: justify;\">&#8220;This also represents a month-over-month increase of 3.7%, the largest monthly increase since May of 2019,&#8221; note the report authors.<\/p>\n<p style=\"text-align: justify;\">Vancouver continues to see the highest rental prices in Canada, for both one and two-bedroom units. The average cost of a one-bedroom apartment in May 2022 was $2,377, which is a 1.8% increase over last month and a whopping 19.1% year-over-year increase.<\/p>\n<p style=\"text-align: justify;\">Two-bedroom apartments cost an average of $3,495 in May, marking an increase of 5.1% over last month and a staggering 24.1% increase year-over-year.<\/p>\n<p style=\"text-align: justify;\">Toronto has the second-highest rental prices in the country, with one-bedroom units averaging $2,133 in May; two-bedroom units averaged $3,002.<\/p>\n<p style=\"text-align: justify;\">Another BC city, Burnaby, rounded up the top three most expensive cities in Canada. One-bedroom apartments cost $2,012 while two-bedroom units cost $2,645 in May.<\/p>\n<p style=\"text-align: justify;\">Two Ontarian cities completed the top five highest Canadian rental markets in May: Oakville and Burlington.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-20144\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2022\/06\/rentreportjune2022-120x288.jpg\" alt=\"\" width=\"546\" height=\"1310\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2022\/06\/rentreportjune2022-120x288.jpg 120w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2022\/06\/rentreportjune2022-454x1088.jpg 454w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2022\/06\/rentreportjune2022.jpg 750w\" sizes=\"auto, (max-width: 546px) 100vw, 546px\" \/><\/p>\n<p><a href=\"https:\/\/biv.com\/article\/2022\/06\/average-vancouver-one-bedroom-rent-19-year-over-year-report\" target=\"_blank\" rel=\"noopener\">Average Vancouver One-Bedroom Rent Up 19% Year-Over-Year<\/a> by Elana Shepert | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report finds that rental prices across Canada have seen the biggest month-over-month increase in years \u2014 and Vancouver continues to see the highest rent in the country. Online &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/06\/canadian-rental-prices-have-seen-the-highest-3-7-m-m-increase-in-years\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-20142","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Rental Prices Have Seen The Highest 3.7% M\/M Increase in Years &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2022\/06\/canadian-rental-prices-have-seen-the-highest-3-7-m-m-increase-in-years\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Rental Prices Have Seen The Highest 3.7% M\/M Increase in Years &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A new report finds that rental prices across Canada have seen the biggest month-over-month increase in years \u2014 and Vancouver continues to see the highest rent in the country. 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