Average rent in Ottawa increases 14 per cent in last year

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

Ottawa renters saw a double-digit increase in the cost to rent an apartment in May, with rents skyrocketing for two-bedroom and three-bedroom apartments.

The June 2023 Rent Report from Rentals.ca and Urbanation shows the average rent for all apartment and condo listings in Ottawa was $2,134 in May, a 14.6 per cent increase from May 2022.

A bachelor apartment cost $1,605 to rent in May, while a one-bedroom apartment cost $1,982 – up 13.9 per cent from the year before.

Rentals.ca says the cost to rent a two-bedroom apartment increased 19 per cent last month to $2,434, while a three-bedroom apartment rented for $2,576, up 19.4 per cent from May 2022.

Ottawa had the second-highest rental rate increase of Canada's major cities in May, with Toronto at 15.5 per cent.

Vancouver has the highest average rent in Canada at $3,137, followed by Burnaby, BC at $2,899 and Toronto at $2,808.

Renters in Gatineau saw a 6.5 per cent increase in the average rent in May to $1,801, while Kingston renters faced an average rent of $1,870, up 6.5 per cent from a year ago.

Rent in the suburbs

The monthly report from Rentals.ca and Urbanation shows rental rates in Kanata and Gloucester are higher than the city of Ottawa average.

The average rental rate for purpose-built condos or apartments was $2,497 in Kanata and $2,141 in Gloucester.

Kanata ranked 15^th among mid-sized markets for asking rent in Canada, while Gloucester is 24^th.

Asking for a roommate rents

Renting an apartment from someone looking for a roommate in Ottawa is expensive.

The report shows the average asking rent for roommate rentals in Ottawa was $947 in May.

Vancouver had the highest rates in Canada at $1,433, while Toronto was second with a roommate rent of $1,299.