Canada’s inflation rate jumped to 8.1 per cent for the month of June, according to data released by Statistics Canada on Wednesday. With the price of goods and services on a steady incline, Canadians are also seeing a rise in the average price of rental units across most major cities.
According to Zumper, a rental listing platform, three-quarters of major Canadian cities included in the company’s July report saw an increase in average rent prices for a one-bedroom apartment month-over-month.
In Vancouver, for example, the average price of a one-bedroom unit reached $2,300 per month in July, the highest price for a single-bedroom apartment in the country. Rental units in Toronto had the second highest average price per month at $2,100 for a one-bedroom unit. The average price of a two-bedroom apartment in the country’s most populous city is $2,700 per month. Rounding out the top five most expensive markets in Canada is Burnaby, B.C., Victoria, B.C. and Oshawa, Ont.
According to Zumper, the combination of low levels of unemployment with climbing interest rates is expected to drive up competition within the rental market space, fuelling the trend of rising rent prices Canadians have seen over the last few months.
Based on the average rental prices calculated by Zumper, CTVNews.ca has gathered a list of apartments currently available for rent across Canada.
VANCOUVER
Type: Apartment
Price: $2,950 per month
Year Built: 2021
Property Size: 92.9 sq. m
This private, garden-level unit features three bedrooms and two bathrooms. The open-concept kitchen is complete with stainless steel appliances and plenty of storage space, while the master bedroom comes with a walk-in closet and ensuite. Located in Vancouver’s South Main neighbourhood, the apartment is within walking distance of stores, restaurants and more.
WEST KELOWNA
Type: Apartment
Price: starting at $1,955 per month
Year Built: 2021
Property Size: 78.5 sq. m
With quartz countertops in the kitchen and vinyl plank flooring throughout, this apartment in West Kelowna has a modern feel. The floor plan consists of an open layout that includes two bedrooms, two bathrooms, as well as a spacious living and dining area. The unit also comes with a private balcony and in-suite laundry.
CALGARY
Type: Apartment
Price: starting at $1,368 per month
Year Built: 1927 and 1971
Property Size: 55.4 to 68.7 sq. m
This one-bedroom unit is a 15-minute drive away from downtown Calgary. In addition to a combined living and dining room, the apartment also features a four-piece bathroom. The building is surrounded by greenery and residents have access to a swimming pool and community tennis courts on-site. The nearby LRT station also allows for easy commutes into the city.
EDMONTON
Type: Apartment
Price: $1,199 per month
Year Built: 1983
Property Size: 66.9 sq. m
Located on the ground floor, this Edmonton apartment has one bedroom and one bathroom, along with in-suite laundry. Rich brown flooring runs through most of the unit, which also includes a recently upgraded kitchen. Surrounding the apartment building are a number of shops, cafes and restaurants. Residents are also allowed to move in with their pets at no extra fee.
REGINA
Type: Apartment
Price: starting at $947 per month
Year Built: 1928
Property Size: 46.5 to 52.5 sq. m
About 50 square metres in size, this apartment in the heart of Regina features a large living area, kitchen and four-piece bathroom. The master bedroom also has its own walk-in closet. With public transit nearby, residents are easily able to travel around the city. The pet-friendly unit also has plenty of windows offering views of Central Park across the street.
SASKATOON
Type: Apartment
Price: starting at $1,047 per month
Year Built: 1976
Property Size: 69.7 sq. m
This two-bedroom, one-bathroom apartment in Saskatoon comes with plenty of closet space for storage. The open-concept layout includes a kitchen that flows into the dining and living areas, while the white walls and grey flooring give the unit a fresh look. The apartment building is located within walking distance of parks, schools and public transit.
WINNIPEG
Type: Apartment
Price: $1,020 per month
Year Built: 1957
Property Size: 74.3 sq. m
Spanning about 74 square metres, this apartment unit in Winnipeg’s Osborne Village neighbourhood has one bedroom and one bathroom. Newly renovated suites come with refinished hardwood floors, as well as high ceilings and large windows throughout. The unit also has electric baseboard heaters and air conditioning to help manage indoor temperatures.
TORONTO
Type: Apartment
Price: $2,500 per month
Year Built: 2002
Property Size: 54.6 sq. m
Fully-furnished, this low-rise suite is located in the heart of downtown Toronto. In the kitchen is a centre island with an extended counter for a breakfast bar, as well as stainless steel appliances. The joined living and dining areas lead to a private balcony. Rounding out the rest of the unit is a master bedroom with a mirrored closet and a four-piece bathroom.
OTTAWA
Type: Apartment
Price: $2,000 per month
Year Built: 2005
Property Size: 63.5 sq. m
This one-bedroom, one-bathroom apartment has a contemporary layout with large windows and an open-concert floorplan. Light maple floors and modern finishes are found throughout the unit, which also has a balcony offering views of Ottawa’s Glebe neighbourhood. The building includes a rooftop terrace with gas barbecues and a fitness facility.
MONTREAL
Type: Apartment
Price: $1,600 per month
Year Built: 1922
Property Size: 76.2 sq. m
Located in Old Montreal, this spacious unit with one bedroom and one bathroom has large windows throughout, ideal for letting light into the apartment. The unit is housed in an 11-storey building with easy access to subway service. Building amenities include a rooftop terrace with views of the city.
ST. JOHN’S
Type: Apartment
Price: starting at $860 per month
Year Built: 1976
Property Size: 55 sq. m
With one bedroom and one bathroom, this 55-square-metre apartment also features a spacious living area and newly renovated kitchen. The building has an on-site laundry facility as well as parking, and is located across from Bowring Park in St. John’s, N.L. A nearby bus stop means residents have easy access to transit services in order to commute to they city’s downtown core.
