In an October 2020 report conducted by Rentals.ca, the average rental rates for properties across Canada has decreased by 8.1% from last year to $1,782. According to the report, this is primarily due to a greater percent of the population now working from home during the COVID-19 pandemic, resulting in more people getting larger apartments outside of big cities.
While the average prices are going down across the country, especially in larger cities like Toronto (-17.3% for a one-bedroom) and Vancouver (-4.3%), the prices in Montreal have actually increased by 14.7%. The report also found that the average rental properly in Canada was up .7% from September 2020.
For the complete report by Rentals.ca, please visit their website.
For the latest news updates, please visit the News section.