NEW THIS MORNING
Here's how much it costs to rent an apartment in Ottawa
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 in Ottawa surpassed $2,000 in August, as rental rates continued to rise across Canada.
The National Rent Report from Rentals.ca and Urbanation shows the average rent for a one-bedroom apartment in Ottawa was $2,044 last month, up from $2,020 a month in July.
The average cost to rent an apartment or condo in Ottawa was $2,224 a month in August, up from $2,218 in July.
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Rents ranged from $1,719 for a bachelor apartment to $2,577 for a two-bedroom apartment.
The report shows the average rent in Kanata is $2,449 a month.
The national rental report says asking rents for all rental properties in Canada increased an average of 3.3 per cent in August compared to the year before.
"Rent increases in Canada finally returned to their longer-term average after nearly three years of excessive growth," Shaun Hildebrand, President of Urbanation, said in a statement. “This was achieved through a combination of more supply being built, as well as a rollback in demand from population-related changes in government policies.”
Vancouver has the highest average rent in Canada at $3,116 a month, including $2,737 for a one bedroom. The average rent in Toronto is $2,679 a month, including $2,445 for a one bedroom.
The report from Urbanation and Rentals.ca shows the average rent for a one bedroom apartment was $1,815 a month in Kingston and $1,736 in Gatineau.
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