The average asking price for a rental unit in Canada reached $2,178 last month, a 9.9% year-over-year increase.
Vancouver led the way again as Canada's most expensive city for renters, with the average one-bedroom unit listed at $2,872 and a two-bedroom at $3,777. Toronto was the next highest ranked major city at $2,607 for a one-bedroom and $3,424 for a two-bedroom.
Rent inflation in Canada is being driven by price increases in Alberta, Quebec and Nova Scotia, in part because of strong population growth and large infusions of new rental supply priced at above-average market rents.
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