Ottawa among most expensive rental markets in Canada report states
Posted Nov 18, 2022 05:15:00 PM.
Behind only Vancouver and Toronto, Ottawa is the third most expensive major rental market in Canada where rent prices surged by 7.6 per cent month over month for purpose-built and condominium apartments in October of 2022 to an average of $2,146 according to a recent report.
The report by Rentals.ca, shows year over year, the average monthly rent in October of this year for a one-bedroom in Canada's capital was up 20.9 per cent and up 20.3 per cent for a two-bedroom. Month over month, the average rent in Ottawa in October for a one-bedroom home increased by 6.6 per cent and 8.4 per cent for a two-bedroom.
Ottawa finished 13th on the list of 35 cities analyzed for average monthly rent in October for a one-bedroom at $1,959 and 11th for average monthly rent for a two-bedroom at $2,443.
Gatineau came in 24th on the list for average monthly rent in October for a one-bedroom at $1,630 and 27th for average monthly rent for a two-bedroom at $1,764.
Year over year, average monthly rent in October for a one-bedroom in Gatineau was up 14.9 per cent but down 0.7 per cent for a two-bedroom.
Although not included on the list, Gloucester average monthly rent in October for a one-bedroom home was $1,806, and average monthly rent for a two-bedroom was $2,173.
Year over year, average monthly rent in October for a one-bedroom in Gloucester was up 15 per cent and up 6.8 per cent for a two-bedroom.
Kanata was also not on the list, but average monthly rent in the suburb in October for a one-bedroom home was $1,766, and average monthly rent for a two-bedroom was $2,387. Year over year, average monthly rent in October for a one-bedroom in Kanata was down 6.7 per cent and down 5.4 per cent for a two-bedroom.
