Rents in ÎÚÑ»´«Ã½ continue to drop — gradually. Online rental-listing sites and both say an average one-bedroom apartment in ÎÚÑ»´«Ã½ goes for about $1,900 a month. An average two-bedroom rental goes for a little over $2,300.
Zumper says ÎÚÑ»´«Ã½ÎÚÑ»´«Ã½ rents have dropped slightly in the last month. Rentals says they’ve gone up. Both say rents are less than they were a year ago.
The two sites analyze their online listings to come up with their monthly reports. Most months, their numbers are similar to one another.
ÎÚÑ»´«Ã½ remains seventh on the Zumper list for most expensive rents in Canada. An average one-bedroom goes for $1,890, down 6% from last month and 4.1% in the last year. An average two-bedroom rents for $2,380, down 1% in a month and 2.5% in the last year.
On ’s list, ÎÚÑ»´«Ã½ dropped from 25th to 27th place across the country. That list breaks out more Toronto and Vancouver suburbs than Zumper does.
A one-bedroom in ÎÚÑ»´«Ã½ goes for $1,941 on the rentals list. A two-bedroom goes for $2,335. Rents in Canada overall are down 3.6% from last year, said. Rents averaged $2,121 in July, marking the 10th consecutive month of declines, its report said.
Rents are also down across Canada on ZumperÎÚÑ»´«Ã½ list with the median one-bedroom going for $1,821 and median two-bedroom for $2,242. Rents were down in the largest markets, including Vancouver, Burnaby, Calgary, Toronto and Victoria. Rents went up in Saskatoon, Regina and Halifax.
This week, top city planner Ryan Smith told ÎÚÑ»´«Ã½ council a large number of apartment and condo units will be coming online soon, raising the cityÎÚÑ»´«Ã½ vacancy rate. But the higher vacancy rate will be temporary, he noted.