Here's how much it cost to rent an apartment in Ottawa in December

The average cost to rent an apartment in Ottawa declined in December.

However, a new report shows the average rent prices increased $156 a month from December 2022 to December 2023, as rent prices hit an all-time high in Canada.

The January rent report from Rentals.ca and Urbanation shows the average cost to rent a purpose-built apartment or condominium in Ottawa was $2,228 in December 2023, down from $2,238 in November. The average rent for an apartment or condo was $2,072 in December 2022.

• Sign up now for our nightly CTV News Ottawa newsletter
• The information you need to know, sent directly to you: Download the CTV News App

According to the report, the average cost to rent a one-bedroom apartment in Ottawa last month was $2,069, down from $2,112 in November. In December 2022, the average cost to rent a one-bedroom apartment was $1,956.

The average asking rent for a two-bedroom apartment in Ottawa was $2,532 in December, up from $2,325 in December 2022.

Ottawa ranks 11^th on the list of Canadian cities for the most expensive average rent for all apartments. Vancouver is first with an average rent of $3,059, followed by Toronto at $2,832 and Mississauga at $2,680.

The report from Rentals.ca and Urbanation says the average asking rent for all residential property types in Canada ended 2023 at a record high of $2,178 in December, up 8.6 per cent from December 2022. The average asking rent in Ottawa increased 7.5 per cent in December 2023 from December 2022.

Kingston ranks 19^th out of 25 Canadian cities for the average rent for all residential property types, at $1,974. The average asking rent for a one-bedroom apartment in Kingston was $1,773 in December.

Rentals.ca and Urbanation warns the rental market in Canada will remain "undersupplied" in 2024, but suggests it will "become somewhat more balanced this year. The report predicts rental rates to increase approximately 5 per cent in 2024.

"So demand is still quite high. It's just that the supply we have available for mostly anywhere across the country has not met that demand. And because of that, we do expect these prices to remain quite high for the foreseeable future,” Giacomo Ladas, Rentals.ca communications director, told CTV News Ottawa on Tuesday.

Some Ottawa residents say they have been feeling the pinch of the high cost of living, including rent.

“Everything goes up; rent and food and everything else. I’m not surprised at all," Ottawa resident Daniel Groux said.

Meanwhile, Michelle Rose says, "I’m moving out, but the landlord is raising the rent by $300 a month."

Emerson Chapman tells CTV News Ottawa the high cost of living is making it even harder for people living on minimum wage to make ends meet. 

"It’s not doable,” Chapman said.

With files from CTV News Ottawa's Peter Szperling