Saskatoon and Regina renters saw some of the highest rate increases in Canada, report finds

A rental housing unit is pictured in Saskatoon.

Renters in Saskatoon and Regina experienced some of the highest rent increases in the country over the last year, according to the latest national rent report from Zumper.

According to the report released Thursday, Saskatoon saw rent climb 8.8 per cent since this time last year, making it second, while Regina was third, with rent increasing 7.8 per cent.

Barrie, Ontario, continued to have the fastest-growing rent, up 10.1 per cent annually.

While the prairie cities saw rents increase, other cities in the country tell a different story.

In stark contrast, Calgary, Alberta, experienced the biggest rent price decline, falling 8.2 per cent annually, followed by Toronto and Kitchener, with 6.1 and 5.8 per cent drops, respectively.

The report, which analyzed hundreds of thousands of listings in January across the 23 largest cities, shows that a one-bedroom apartment in Saskatoon cost $1,230, while the same unit in Regina cost $20 more, at $1,250.

Two-bedroom apartments cost $1,450 and $1,440 in Saskatoon and Regina, respectively. Calgary, which saw a record decline, had rent for one and two bedrooms at $1,670 and $2,000, respectively.

According to the report, Vancouver, B.C., retained its title as the most expensive rental market in Canada, with one-bedroom rent remaining stable at a median of $2,550.

In general, the report says national rates fell both monthly and annually for the fourth consecutive month, largely due to a surge in rental completions, an increase in the number of rental units due to government incentives, and recent immigration policy changes, which eased rental demand.