Average cost to rent an apartment in Ottawa drops in September

A for rent sign is displayed on a house in a new housing development in Ottawa on Friday, Oct. 14, 2022. THE CANADIAN PRESS/Sean Kilpatrick

The average cost to rent a one-bedroom apartment dropped an average of $2 a month in September, as rental rates stabilized in Ottawa.

A new report from Rentals.ca and Urbanation shows the average cost to rent a one-bedroom apartment was $2,042 a month in September, down from $2,044 a month in August. The average cost of a one-bedroom apartment in Ottawa was $2,051 in September 2023 and $2,063 in August 2023.

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The average cost to rent an apartment or condo in Ottawa was $2,220 a month in September, down from $2,224 in August.

Rents range from $1,722 for a bachelor apartment to $2,570 for a two-bedroom apartment and $2,813 for a three-bedroom unit.

The average asking rent in Kanata is $2,609 a month, according to the report.

The report shows the average asking rent for all residential property types in Canada was $2,193 in September, up 2.1 per cent from September 2023.

Vancouver has the highest average rent in Canada at $3,023 a month, with a one-bedroom costing $2,673 a month. Toronto is second with an average rent of $2,668, with a one-bedroom renting for $2,418 a month.

The average rent in Gatineau is $2,049 a month, with a one-bedroom renting for $1,738. In Kingston, the average rent is $1,992 a month, with a one-bedroom costing $1,801.