Canada’s rental rate inflation is expected to rise in most major markets for 2019
2019 Canada National Rental Index Report
Posted On: Wednesday, March 06, 2019
Across Canada, one bedroom units dominate with about 36% market share and an average monthly rent of $1,577 per month, while two bedroom units come in a close second with a market share of just over 34% and an average rent of $1,764 per month.
Across Canada, the rent charged for single-family housing (single-detached and semi-detached homes on average) was only slightly higher than condominium apartments ($2,534 versus $2,450).
However, when looking at it on a per-square-foot basis, a tenant could pay twice as much on average for a condominium apartment than a single-family home ($3.40 versus $1.56) and 28 cents more than a rental apartment ($1.84 versus $1.56).
At the national level, Toronto had the highest one-bedroom rents in Canada at $2,135 per month in December with Mississauga following second at $1,825 per month and Vancouver third at $1768 per month.
As for Alberta, the average rent for a one-bedroom unit in Calgary increased 4% month-over-month, while two-bedroom units declined 2%. Edmonton’s average rent for a one bedroom unit increased 1% month-over-month, while two bedroom units grew by 3% month-over-month.
2019 Rental Forecast
Overall, Canada’s rental rate inflation is expected to rise in most major markets for 2019
. Based on the rental rate forecast prepared by Rentals.ca
, we can expect the average monthly rental rate in Canada to increase by 6% in 2019
. On a municipal basis, Toronto can expect a rental growth of 11%, 10% in Mississauga, 9% in Ottawa, 7% in Vancouver and 4% in Calgary. The forecast for Montreal and Edmonton will see modest rent increases of 1.3% and 0.3% respectively in 2019.