The average asking rental price in Canada surpassed $2,200 to reach a record high in May, according to a new report.
Published Thursday by Rentals.ca and Urbanation, the report found that the average monthly asking price for all residential rentals increased by 9.3 per cent year-over-year to hit $2,202 in May.
Vancouver continued to lead the country with the most expensive asking price for a one-bedroom rental at $2,671, followed by Burnaby, B.C. at $2,545, Toronto at $2,479 and Mississauga, Ont. at $2,339.
Elsewhere in the country, similar units were going for $955 in St. John's, N.L., $1,242 in Fort McMurray, Alta. and $1,258 in Saskatoon, Sask.
Rental rates in Vancouver and Toronto were down slightly since May 2023 while smaller cities like Regina, Quebec City and Halifax saw annual increases of 10 per cent or more.
The report was written by Toronto-based real estate research firm Urbanation and based on data from residential listings posted on the website Rentals.ca
“Canada’s rental market is entering the peak summer season with continued strength,” Urbanation president Shaun Hildebrand stated in a news release. “Markets such as Vancouver and Toronto that had experienced some softening in rents in previous months are stabilizing near record highs, while many of the country’s mid- and small-sized cities are still posting double-digit rent increases.”
B.C. also led Canada with the highest average rental asking price at $2,526 for an apartment or condo, a 2.3 per cent increase, followed by Ontario at $2,423, a 0.7 per cent increase.
Rent inflation across Canada was driven in part by large annual increases in Saskatchewan (21.4 per cent to $1,334), Alberta (17.5 per cent to $1,787) and Nova Scotia (17.1 per cent to $2,238). All provinces saw higher asking prices.
Edmonton led Canada's larger cities in asking price increase at 14.6 per cent, but was still less expensive on average than Calgary at $1,507 versus $2,089. For all apartments and condo sizes, prices remained the highest in Vancouver ($3,008) and Toronto ($2,784).
Visuals by CTVNews.ca National Digital Producer Charlie Buckley
An analyst and an assistant coach with Canada Soccer are being removed from the Canadian Olympic Team and 'sent home immediately,' according to the Canadian Olympic Committee.
Foreign governments say hundreds of thousands of people in Bangladesh and Sri Lanka lost savings to a company headquartered in Canada. This investigation from the IJF and CTV News shines a new light on how Canadian shell companies and registries were used to pull off the scheme.
A local law enforcement commissioner revealed during a House Homeland Security hearing on Tuesday stunning new details about the security failures that led to the near assassination of Donald Trump, raising more questions for the embattled U.S. Secret Service.
Salt Lake City was awarded the 2034 Winter Olympic Games on Wednesday following a vote of the International Olympic Committee.
A plane crashed Wednesday just after taking off from Nepal’s capital, killing 18 people and injuring a pilot who was the lone survivor.
There are some laws in popular tourist destinations around the world that could land Canadian travellers in mild-to-serious trouble if they're not careful. Don't let these local laws land you in hot water during your next vacation abroad.
Toronto has a special place in Hugh Jackman's heart. During an exclusive interview with Etalk in front of dozens of fans gathered in the parking lot of 299 Queen Street West on Tuesday, the Australian actor shared that the city was where his Wolverine journey began.
Comments Donald Trump’s running mate JD Vance made in 2021 questioning U.S. Vice President Kamala Harris’ leadership because she did not have biological children have resurfaced, testing the young conservative senator in his early days campaigning as part of the Republicans' presidential ticket.
The Bank of Canada is set to announce its interest rate decision this morning as economists widely expect a rate cut.
A sentencing hearing is expected to begin today in Toronto for former fashion mogul Peter Nygard, who was found guilty of four counts of sexual assault last fall.
The HMCS Max Bernays, one of the country's newest navy ships is tied up in a U.S. port after it took on 20,000 litres of water because of a leak.
The Wilder Institute/Calgary Zoo has revealed the cause of death for polar bear Baffin last week.
Two people are dead and two others are injured following a shooting in Scarborough, Ont. early Wednesday morning. It happened in the area of Ellesmere Road and Oakley Boulevard, near Midland Avenue, shortly after 2:30 a.m.
A man whose charges were stayed following an investigation into an alleged child sex trafficking ring in Portage la Prairie says his life has been ruined.
Alberta's premier says changes are needed to the province's emergency alert system after incorrect information was shared about the Jasper evacuation on Monday night.
A plane crashed Wednesday just after taking off from Nepal’s capital, killing 18 people and injuring a pilot who was the lone survivor.
King Charles, who has spent a lifetime campaigning on environmental issues, has installed solar panels at Windsor Castle and plans to convert the royal family's Bentley cars to run on biofuel, palace officials said.
The director of the Secret Service resigned Tuesday in the aftermath of the assassination attempt against former U.S. president Donald Trump that unleashed an outcry about how the agency failed in its core mission to protect current and former presidents.
The Philadelphia school district has failed to protect Jewish students from “a virulent wave of antisemitism” that swept through classrooms after Hamas attacked Israel on Oct. 7, according to a federal complaint filed Tuesday.
North Korea flew more balloons likely carrying trash toward South Korea on Wednesday, some of which reportedly fell on the compound of the South's presidential office.
Protesters against the Gaza war staged a sit-in at a congressional office building Tuesday ahead of Israeli Prime Minister Benjamin Netanyahu's address to Congress, with Capitol Police making multiple arrests.
Court documents show federal immigration officials warned that the government risked undermining the temporary immigration system with the design of the emergency visa program for war-displaced Ukrainians.
Prime Minister Justin Trudeau's decision to hand-pick a candidate for a riding in an upcoming Montreal byelection isn't being well-received by three aspiring contenders who spent months campaigning only to be shunted aside.
The Assembly of Manitoba Chiefs is criticizing the federal government for reducing funds to search the grounds of former residential schools, saying they are profoundly disappointed and outraged.
The Canadian Food Inspection Agency says a 'worrisome' parasite has been confirmed in at least one area on Prince Edward Island and samples from several oyster farms have been sent for testing.
Long-term care and assisted living homes need to focus more on supporting their residents' mental health, a Canadian organization that develops quality and safety standards said on Tuesday.
Nearly 40 million people were living with the HIV virus that causes AIDS last year, over nine million weren't getting any treatment, and the result was that every minute someone died of AIDS-related causes, the UN said in a new report launched Monday.
Crowdstrike is blaming a bug in an update that allowed its cybersecurity systems to push bad data out to millions of customer computers, setting off last week's global tech outage that grounded flights, took TV broadcasts off air and disrupted banks, hospitals and retailers.
Sharks living off the coast of Brazil have tested positive for cocaine, according to new research, the first time that the drug has been detected in free-ranging sharks.
Google is planning to keep third-party cookies in its Chrome browser, it said on Monday, after years of pledging to phase out the tiny packets of code meant to track users on the internet.
While the Swifties and Bey Hive dream of a world where Taylor Swift and Beyoncé come together to jointly endorse U.S. Vice-President Kamala Harris, British pop singer Charli XCX is already getting the party started.
Toronto has a special place in Hugh Jackman's heart. During an exclusive interview with Etalk in front of dozens of fans gathered in the parking lot of 299 Queen Street West on Tuesday, the Australian actor shared that the city was where his Wolverine journey began.
'Jeopardy!' host Alex Trebek is being posthumously honoured with a U.S. postage stamp.
The Bank of Canada is set to announce its interest rate decision this morning as economists widely expect a rate cut.
Hundreds of Ontario's liquor stores reopened Tuesday following a strike that lasted more than two weeks, but the fighting between the union representing workers and the government dragged on.
Red Lobster is moving closer to a bankruptcy sale that would put lenders, including Fortress Investment Group, in charge of the company after no other bidders stepped up with an offer to repay the struggling U.S. restaurant chain's debt, according to court documents.
There are some laws in popular tourist destinations around the world that could land Canadian travellers in mild-to-serious trouble if they're not careful. Don't let these local laws land you in hot water during your next vacation abroad.
One of Oscar Mayer's hot dog-shaped Wienermobiles ended up flipped onto its side after crashing on a suburban Chicago highway, police said.
If you look around at your friends and family — and even at yourself — it is apparent that some people perceive the glass to be half full, while others view it as half empty. Which habits can you adopt to increase your level of happiness? A social psychologist has these five tips.
An analyst and an assistant coach with Canada Soccer are being removed from the Canadian Olympic Team and 'sent home immediately,' according to the Canadian Olympic Committee.
Salt Lake City was awarded the 2034 Winter Olympic Games on Wednesday following a vote of the International Olympic Committee.
A CFL super fan is two-thirds of the way into his record-breaking attempt to visit all nine stadiums in the Canadian Football League in 15 days.
A woman in Waterloo, Ont. is out thousands of dollars for a car crash she wasn’t involved in.
Whether it's for parking, speeding or running a red light, no one likes being issued a traffic ticket, but it’s important to be careful how you pay them.
One of Oscar Mayer's hot dog-shaped Wienermobiles ended up flipped onto its side after crashing on a suburban Chicago highway, police said.
A cat who fled her Montreal home nearly a decade ago has been reunited with her family after being found in Ottawa.
A woman in Waterloo, Ont. is out thousands of dollars for a car crash she wasn’t involved in.
A swarm of bees living in a lamppost in Winnipeg’s Sage Creek neighbourhood has found a new home for its hive.
Around 100 acres of Manitoba Crown Land near the Saskatchewan border is being returned to the Métis community.
Nova Scotia is suspending the licensed Cape Breton moose hunt for three years due to what the province is calling a “significant drop” in the population.
A well-known childhood prank known as 'nicky nicky nine doors,' or 'ding dong ditch,' has escalated into a more serious game that could lead to charges for some Surrey, B.C. teens.
It's been more than a month since their good friend was seriously hurt in an accident and two teens from Riverview, N.B., are still having a hard time dealing with it.
Halifax bridges have collected thousands of coins from around the world.
A donated clawfoot bathtub has become the preferred lounging spot for a pair of B.C. grizzly bears, who have been taking turns relaxing and reclining in it – with minimal sibling squabbling – for the past year.
In an update Tuesday evening, police say they have identified the two women who were found dead on Vancouver beaches one day after the other.
Patients who went to Mission Memorial Hospital’s emergency department on Tuesday evening were told to go to Abbotsford General or Maple Ridge hospitals, the first time a Metro Vancouver acute care facility has turned away patients due to critical staffing shortages.
Small-town B.C. has a reputation for being friendly and full of culture, but on Monday evening they showed just how quickly they can jump into action when there's a crisis in another province.
The provincial government says it is giving Toronto $73 million in order to speed up rehabilitation work on the latest stretch of the Gardiner Expressway by a year.
Two people are dead and two others are injured following a shooting in Scarborough, Ont. early Wednesday morning. It happened in the area of Ellesmere Road and Oakley Boulevard, near Midland Avenue, shortly after 2:30 a.m.
The Bank of Canada is set to announce its interest rate decision this morning as economists widely expect a rate cut.
Calgary is now under Stage 1 outdoor water restrictions, effective immediately. Mayor Jyoti Gondek made the announcement on Tuesday afternoon.
The Wilder Institute/Calgary Zoo has revealed the cause of death for polar bear Baffin last week.
One of two men charged with conspiring to murder RCMP officers at the Coutts, Alta., border blockade two years ago will return to the witness stand for a third straight day.
Canada is sending 338 athletes to the Olympic Games in Paris, including 26 from Ottawa, eastern Ontario and western Quebec.
Ottawa Comiccon says the actors who played the main four Hobbits in Peter Jackson's 'The Lord of the Rings' films will be coming to the annual convention in the capital this year.
The City of Ottawa's new road safety message for the summer is calling on all road users, including drivers, cyclists and pedestrians, to be alert at intersections.
A group of residents in a Sainte-Anne-de-Bellevue townhouse development say they thought they were living in a protected greenspace until bulldozers came in. Now they claim they bought something the builder couldn't deliver.
Montreal police say a youth who was arrested in connection with the killing of a 42-year-old man in the West Island last February has escaped from custody in Ontario
Two young women are in critical condition following a collision between their electric scooter and a car on Tuesday afternoon in the West Island, according to Montreal police (SPVM).
Thousands of wildfire evacuees forced from Jasper National Park into British Columbia along smoke-choked mountain roads Monday night were directed Tuesday to make a wide U-turn and head home if they needed a place to stay.
Alberta's premier says changes are needed to the province's emergency alert system after incorrect information was shared about the Jasper evacuation on Monday night.
Camping reservations in Jasper National Park have been cancelled for two weeks due to the ongoing evacuation in the area.
New Brunswick fire crews battled a fire at a Petitcodiac building on Tuesday night.
The Nova Scotia RCMP says two young boys missing from Lower Sackville have been found safe.
The British Columbia couple whose remains recently washed ashore on Nova Scotia's remote Sable Island have been identified as 70-year-old James Brett Clibbery and his 54-year-old wife, Sarah Packwood.
A man whose charges were stayed following an investigation into an alleged child sex trafficking ring in Portage la Prairie says his life has been ruined.
The City of Winnipeg is taking a step to get condos and apartment projects going faster.
Whether you own a farm or have a backyard berry patch, the province is warning fruit growers about a tiny pest causing massive problems: the spotted wing drosophila (SWD).
Regina YMCA Childcare Centres are limiting kids' time outdoors due to the wildfire smoke.
The Government of Saskatchewan turned the sod on six new affordable housing units in Regina on Tuesday.
Patrons of the Saskatchewan Science Centre may have noticed a certain bird of prey has been missing this past year.
Noor Ayesha from Kitchener Ont., is battling a rare and aggressive form of cancer while pushing the province to fund an expensive drug, which could extend her life.
More details have been shared about the vision for the yet-to-be-named hospital.
Police are investigating after a Glen Morris, Ont. man died after reportedly drowning in the Grand River.
Multiple wildfires in Jasper National Park forced a Saskatoon couple to evacuate the park on Monday night.
Saskatchewan kids with gastrointestinal issues are getting a specialist back at the Jim Pattison Children’s Hospital.
A Sudbury man has been sentenced to three years in prison after being found guilty of sexual assault in connection with a threesome in 2013 but doesn't have to register as a sex offender.
A small, aggressive fish, called the Eurasian ruffe is causing some concern in northeastern Ontario due to its ability to muscle in on native fish in the territory, the Invasive Species Centre says.
A local law enforcement commissioner revealed during a House Homeland Security hearing on Tuesday stunning new details about the security failures that led to the near assassination of Donald Trump, raising more questions for the embattled U.S. Secret Service.
For the first time since losing their 11-year-old son, the family of Aiden Curtis of St. Thomas got a look at the man who caused his death.
Early this afternoon, a man entered a business in the area of Richmond Street and Oxford Street East, and left without paying for items that he picked up inside. He was confronted by a member of the public, who was stabbed.
OPP are warning drivers that speeding in a construction zone will cost you. Officers on patrol in Oxford County stopped a vehicle going 154 km/h in a posted 80km/hr construction zone.
Julia's family is holding a visitation Monday night in Ajax. They say they plan to have a celebration of life sometime next week at Sand Banks Provincial Park.
York Regional Police are investigating a fatal collision involving a pedestrian and a dump truck early Tuesday morning.
Come see if the World's Strongest Man can pull a delivery truck at Open Air Dunlop.
Several vehicles were involved in a crash in east Windsor.
Windsor police were called to a crash in east Windsor.
Windsor-Detroit Tunnel users are being warned of a circulating scam. According to officials, customers have reported receiving a text message claiming they owe money for tolls.
An out-of-control wildfire on southern Vancouver Island has grown to 50 hectares as firefighting crews continue to battle the blaze west of Victoria.
An 11-year-old girl selling handmade gemstone bracelets on her porch had most of her crafts stolen last week, according to authorities on Vancouver Island.
In less than 15 minutes, three people were stabbed in seemingly random attacks in downtown Vancouver Monday night, according to authorities.
Two people are dead after a serious crash that shut down Highway 1 near Sorrento, B.C. Saturday morning.
The number of wildfires in British Columbia has flared as more lightning storms bring the potential for further fire starts.
Standing on the edge of an open aircraft hatch, a smokejumper in a pale yellow suit steadies himself before rocking back then swinging out the door and vanishing as gravity takes over.
One of two men charged with conspiring to murder RCMP officers at the Coutts, Alta., border blockade two years ago will return to the witness stand for a third straight day.
Lethbridge police are searching for an escaped prisoner from the Lethbridge Correctional Centre.
One of two men charged with conspiring to murder RCMP officers at the Coutts, Alta., border blockade two years ago testified Tuesday he wasn't aware that the custom-made rifle he had purchased was a prohibited weapon.
A small, aggressive fish, called the Eurasian ruffe is causing some concern in northeastern Ontario due to its ability to muscle in on native fish in the territory, the Invasive Species Centre says.
The director of Ontario’s Special Investigations Unit has charged a Thunder Bay Police officer with a criminal offence in connection with an incident on June 30, 2023.
Grades 7, 8 and 9 students in Sudbury are learning all about the skilled trades this week.
The owner of a refinery in Newfoundland has been charged with health and safety violations for a flash explosion at the plant in 2022 that killed a worker and injured seven others.
The Transportation Safety Board of Canada has sent investigators to Newfoundland to determine what caused a fire aboard a fishing boat that forced the crew to abandon the vessel for a life-raft, leaving them at the mercy of the waves for two days.
Labrador City residents who were ordered to evacuate last week after the reignition of a once-smouldering fire near the town were allowed to return home Monday.
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
