Average rents in Canada rose 9% in April from a year earlier, according to a study released Tuesday.
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The latest national report on residential rents from Bullpen Research & Consulting reveals that the monthly rent for properties listed on Rentals.ca was $1,821 in April, down from $1,676 in April 2021.
Last month’s numbers are close to pre-pandemic levels, when prices in 2021 were the lowest in four years, according to the same study that analyzed results from 35 Canadian cities.
Montreal arrives at the 21e place for the average monthly rent for a house with one bedroom at $1,489, up slightly by 0.9%, while the rent for a residence with two closed bedrooms fell by 2.5% to settle at 1952 $ in April.
Laval also experienced a slight decrease with $1,243 and $1,635 for one-bedroom and two-bedroom apartments, a decrease of 6.5% and 8.4% respectively during the same period.
Montreal’s average rents for condos and apartments rose 2% year-over-year to $1,701 in April, as interest in residences close to downtown emerges due to the return in the office.
“Average rental rates for single-family homes, townhouses and condominiums saw strong month-over-month growth,” said Ben Myers, president of Bullpen Research & Consulting.
“Big city rents are rising with Vancouver and Toronto leading the way. The return to the office, high gasoline prices and rising interest rates are all fueling demand for centrally located rental offers.
