The average rental price in Ottawa declined slightly in May and is down overall from one year ago. According to Rentals.ca and Urbanation, renters in Ottawa paid an average of $2,140 last month, down $11 from the average rental price in April. The cost of an average one-bedroom unit went up $5 month-over-month to $1,949 in May, but two-bedroom units saw a $19 decline, dropping to $2,453. Year-over-year, the rent for a one-bedroom unit is down 2.2 per cent, and two-bedroom rents are down 4.1 per cent compared to a year ago. Kanata continues to differ from the rest of Ottawa, having the third-highest average rental price in the country. The average rental price in Kanata in May was $2,543, with two-bedroom rents jumping $243 month-over-month to $2,812 in May. The 9.5 per cent increase was the highest one-month increase in Canada. One-bedroom units in Kingston went up 1.3 per cent in May to $2,277. Year-over-year, one-bedroom rents are down 0.2 per cent, but two-bedrooms are up 3.3 per cent. The average asking rent in Canada declined 4.7 per cent year-over-year in May, down $100 to $2,029, representing the 20th consecutive month of year-over-year declines, Rentals.ca and Urbanation say. On a monthly basis, rents rose by 0.1 per cent from April. North Vancouver has the highest average rent in Canada, at $2,927 in May, followed by Vancouver. Kanata, North York, and Toronto round out the top five. Kingston’s average rent in May came in at $2,179, down $49 from April. The average one-bedroom went for $1,926, a 2.1 per cent increase, but two-bedrooms dropped 1.5 per cent month-over-month to $2,297. Kingston has the 20th highest average rent in Canada, ahead of Ottawa at 22nd, with a 10.2 per cent year-over-year increase marked in two-bedroom rents. Only Laval saw a higher increase. The average rent in Gatineau in May was $1,800, a $20 increase from April. A one-bedroom went for $1,617 and a two-bedroom was $1,881. Gatineau has seen a year-over-year decline in rental rates of 7.8 per cent for one-bedroom units and 9.8 per cent for two-bedrooms.
