A rental sign is seen outside a building in Ottawa, Thursday, April 30, 2020. A new report says the average listed rent for all property types in Canada jumped by 10.7 per cent year-over-year in January, the ninth straight month for double-digit increases.THE CANADIAN PRESS/Adrian Wyld

A rental sign is seen outside a building in Ottawa, Thursday, April 30, 2020. A new report says the average listed rent for all property types in Canada jumped by 10.7 per cent year-over-year in January, the ninth straight month for double-digit increases.THE CANADIAN PRESS/Adrian Wyld

Average rent in Canada up 10.7% since last year: report

Country’s average listed rent to be $1,996 in January, down 0.5 per cent from December

A new report says the average listed rent for all property types in Canada jumped by 10.7 per cent year-over-year in January, the ninth straight month of double-digit increases.

The report from Rentals.ca and Urbanation calculated the average listed rent to be $1,996 in January, down 0.5 per cent from December.

When compared with the pre-pandemic average rent in January 2020 of $1,823, rents in Canada increased 9.5 per cent, which amounts to an average annual increase of 3.2 per cent during the three-year period.

Shaun Hildebrand, Urbanation’s president, says the numbers indicate that Canada’s rental market started 2023 in line with the end of 2022 but saw sharp annual rent growth, low supply and quickly rising demand.

Vancouver and Calgary had the highest increases in average rent for condos and apartments in January, with annual growth of 22.9 per cent and 22.7 per cent, respectively.

Meanwhile, Toronto condo and apartment rents increased 20.8 per cent annually in January.

RELATED: Landlord denies tenant security camera use, B.C. law vague on subject

RELATED: Under $80 difference between rent, mortgage prices in Kelowna the smallest in Canadian major cities

Rentals

Be Among The First To Know

Sign up for a free account today, and receive top headlines in you inbox Monday to Saturday.

Sign Up with google Sign Up with facebook

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Reset your password

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

A link has been emailed to you - check your inbox.



Don't have an account? Click here to sign up