A new report says the average asking rent for a home in Canada reached $2,185 in June, up seven per cent compared with a year ago despite representing the slowest annual rate of growth in 13 months.
The report by Urbanation and , which analyzes monthly listings from the latter's network, says average asking rents decreased 0.8 per cent from May — the largest month-over-month decline since early 2021 and atypical compared with usual monthly increases this time of year.
Based on the report, the average asking rent for a one-bedroom unit in Canada was $1,918 in June, up 7.7 per cent from a year ago, while the average asking price for a two-bedroom unit was $2,301, up 9.6 per cent.
Overall, asking rents for purpose-built rental apartments in June jumped 11 per cent compared with a year earlier to reach an average of $2,121.
Meanwhile, condominium apartment rents, which averaged $2,320, were up 2.6 per cent.
The majority of provinces recorded year-over-year increases in asking rents for purpose-built and condo rentals, led by Saskatchewan with a 22.1 per cent gain to reach $1,339. Ontario saw a 1.3 per cent decline from a year ago to $2,382, while rents in B.C. were flat.
This report by ºÚÁϳԹÏÍø was first published July 9, 2024.
