Rental rates are dropping across Canada in major cities except in Montreal

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.

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