Ottawa renters see an increase in rent in May, report shows

For rent and for sale signs are displayed on a house in a new housing development in Ottawa on Friday, Oct. 14, 2022. (Sean Kilpatrick / The Canadian Press)

The average cost to rent an apartment increased $31 a month in Ottawa in May, as rental rates hit an all-time high in Canada.

Statistics from Rentals.ca and Urbanation shows the average cost to rent a purpose-built apartment or condominium in Ottawa was $2,190 in May, up from $2,159 in April.  The average rent in Ottawa is still lower than the rent in March ($2,198) and February ($2,222).

• Average asking rental price in Canada reaches record high of $2,202: report

The average cost to rent a one-bedroom apartment in Ottawa was $1,997 a month in May, up from $1,982 in April.  The cost to rent a one-bedroom apartment in Ottawa was $2,043 in March.

Rent for a two-bedroom apartment in Ottawa was $2,517 last month, while a three-bedroom apartment cost an average of $2,726 a month.

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Across Canada, the average asking rent hit an all-time high of $2,202 in May. Rentals.ca says it's the first time the average rent surpassed $2,200 a month in Canada.

"Canada's rental market is entering the peak summer season with continued strength," Shaun Hildebrand, president of Urbanation, said in a statement. "Markets such as Vancouver and Toronto that had experienced some softening in rents in previous months are stabilizing near record highs, while many of the country’s mid- and small-sized cities are still posting double-digit rent increases."

Vancouver has the highest average rent in Canada at $3,008 a month in May, followed by Toronto at $2,784 a month and $2,610 a month in Mississauga.

The report shows the average cost to rent an apartment in Kingston was $2,054 a month, including an average rent of $1,811 a month for a one-bedroom apartment. The average rent was $2,034 a month in Gatineau, Que., including $1,767 a month for a one bedroom apartment.