Regina rental prices up nearly 20 per cent in 1 year, report says

Rental prices across Canada hit a new high Vancouver remains the most expensive city to rent, but prices in some smaller Canadian cities have skyrocketed. CTV’s Colton Praill reports.

Average rental prices for one and two-bedroom apartments or condos in Regina increased nearly 20 per cent in one year’s time, according to a report.

Rent for a one-bedroom apartment or condo in Regina was 17.6 per cent higher in March of 2024 than in March of 2023, according to The National Rent Report by Rentals.ca and Urbanation.

According to the report, the average rental price for a one-bedroom in Regina was $1,267 in March 2024.

Two-bedroom apartments and condos were 16 per cent more on average in March of 2024 than in March 2023.

According to the report, the average price for a two-bedroom apartment or condo in Regina last month was $1,476.

In Saskatoon, the average price for a one-bedroom in March 2024 was $1,197, a two-bedroom was $1,428 on average, the report says.

When provincialized the year-over-year increases were similar.

Across Saskatchewan, the average rental price for a one bedroom was up 17 per cent from March 2023 to March 2024. Two bedrooms rose 19 per cent and three bedrooms 21 per cent, the report says.

In Vancouver, the average rental price for a one-bedroom was over $2,600, in Toronto it was $2,471, the report said. Only North Vancouver was higher.

“The data used in this analysis is based on monthly listings from the Rentals.ca Network of Internet Listings Services (ILS). This data differs from the numbers collected and published by the Canada Mortgage Housing Corporation (CMHC),” the report said.

The full report can be read here.