Average monthly rent in Ottawa continues to rise
Posted Oct 15, 2022 08:00:00 PM.
Some not-so-good news for renters looking for a new place.
According to the latest report from Rentals.ca and Bullpen Research & Consulting, average rent in Canada surpassed $2,000 in September to $2,043 per month.
Ottawa finished 12th on the list of 35 cities for average monthly rent in September for a one-bedroom at $1,909 and 11th for average monthly rent for a two-bedroom at $2,468.
The report states continued strong demand, plus the completion of a number of new purpose-built rental apartments with higher rents, as contributors to the significant annual rent increase. But a sign that the rental market pressure could start to ease is that page views per listing in September declined to about the average level earlier in the pandemic, before the interest rate hikes.
Year over year, average monthly rent in September for a one-bedroom in Ottawa was up 17.7 per cent and up 21.2 per cent for a two-bedroom. Month over month, average rent in September for a one-bedroom rose 4.9 per cent and was up 10.7 per cent for a two-bedroom.
Prices in Gatineau are still lower than rent prices in Ottawa. Gatineau came in 26th on the list for average monthly rent in September for a one-bedroom at $1,561 and 28th for average monthly rent for a two-bedroom at $1,840.
The national average rent for all property types on Rentals.ca rose 21.9 per cent since the recent low of $1,676 per month in April of last year.
