Vancouver ranked 2nd most expensive city to rent an apartment in Canada

Vancouver ranked 2nd most expensive city to rent an apartment in Canada

And even though Vancouverites always complain about the cost of housing in Vancouver, there are also very pricey pads right across the country, according to Canadian real estate search website RentSeeker.

To provide an overall look at Canada’s rental market, RentSeeker has published an infographic showing the top 10 most and least expensive cities across Canada.

And as most people would think that Vancouver and Toronto would secure the top two spots, however it may be surprising that neither of the two took the top spot for the priciest rental city.

In fact, Yellowknife which is the capital city of Yukon, (as in the Northwest Territories) took the top spot, with Vancouver and Toronto following in second and third, respectively.

In Vancouver the average cost to rent an apartment lies at $1,507 a month, Yet RentSeeker has broken down what the average price is for a studio bachelor, and a one, two, and a three-bedroom apartment.

According to RentSeeker, the average rental price for a studio bachelor apartment in Toronto is currently $1,150, with a 0.9% vacancy rate.

A vacancy rate is the percentage of housing that is available. As in no one is living in it at the moment.

A one bedroom, on the other hand, averages at $1,307 in Toronto, with a 1.1% vacancy rate.

Those looking to rent a two-bedroom in Toronto will be facing an average of $1,467, and a 1.0% vacancy rate, which is $230 less than Yellowknife, which is currently the most expensive city to rent a two-bedroom, averaging at $1,697 a month.

And as most people would think, a three-bedroom apartment in Toronto definitely doesn’t come cheap, averaging at $1,633 a month, with a 0.8% vacancy rate.

Top 10 most expensive cities in for rental apartments in Canada:

Yellowknife, NWT: Average Rent Price = $1581/month

Vancouver, BC:  Average Rent Price = $1507/month

Toronto, ON:  Average Rent Price = $1360/month

Victoria, BC: Average Rent Price = $1264/month

Kingston, ON:  Average Rent Price =  $1238/month

Ottawa, ON: Average Rent Price = $1214/month

Barrie, ON: Average Rent Price = $1198/month

Oshawa, ON: Average Rent Price = $1153/month

Kelowna, BC: Average Rent Price = $1139/month

Edmonton, AB: Average Rent Price = $1125/month

Top 10 least expensive cities for rental apartments in Canada:

Thetford Mines, QC:  Average Rent Price = $461/month

St. Georges, QC: Average Rent Price = $478/month

Victoriaville, QC: Average Rent Price = $506/month

Edmundston, NB:  Average Rent Price = $511/month

Matane, QC: Average Rent Price = $514/month

Trois-Rivieres, QC: Average Rent Price = $534/month

Saguenay, QC: Average Rent Price = $547/month

Drummondville, QC: Average Rent Price = $556/month

Sherbrooke, QC: Average Rent Price = $588/month

Sherbrooke, QC: Average Rent Price = $588/month

For more details please do not hesitate to contact with RentYVR agents [email protected] or call us at 778.888.8862 and make an appointment, or please register to our VIP Client list and we will inform you about most of the real estate that can effect your investments portfolio.