Greater Victoria remained the fourth-most expensive rental market in Canada in June according to a new report.
According to figures compiled by online residential rental site Zumper.com, the median rent for a one-bedroom apartment in the region was $1,880 in June, up 2.2 per cent from May, while median rent for a two-bedroom was $2,350, which actually dropped six per cent from May.
Year over year, one-bedroom rents in the region are up 12.6 per cent on average since last June, while two-bedroom unit prices have risen 13 per cent.
The report looks at data from rental listings in Canada’s 24 most populous metro areas. Vancouver continues to be the most expensive place to rent, with the one-bedroom median rental $2,300 and two-bedroom price $3,300. Next highest was Toronto at $2,100 and $2,700, respectively, while Burnaby was third at $2,060 and $2,750.
The most affordable rents in the 24 largest metropolitan areas was St. John’s, NL, where the median price for a one-bedroom unit was $870 and a two-bedroom was $920.
The report also highlighted cities with the most significant month-to-month and year-to-year changes for one-bedroom units.
Windsor, Ont. saw the largest median rent increase of 6.3 per cent from May to June, rising to $1,350, while Abbotsford saw the largest month-to-month decrease, dropping six per cent to $1,400.
Quebec City experienced the largest year-to-year increase of 34.2 per cent.
The full report can be found online at zumper.com.
Do you have a story tip? Email: firstname.lastname@example.org.