Rental rates fall in Ottawa, rise in Gatineau since the start of the pandemic
For rent sign (Shutterstock)
OTTAWA -- The cost to rent a one or two-bedroom apartment in Ottawa is cheaper today than it was before the start of the COVID-19 pandemic.
But across the river in Gatineau, rental rates increased in February compared to the same month in 2020.
A new report from Rentals.ca finds the average asking rent for a one-bedroom apartment in Ottawa was $1,527 in February, down 5.3 per cent from February 2020.
In Gatineau, the average rent for a one-bedroom apartment increased 1.9 per cent to $1,159 dollars a month in February.
The cost to rent a two-bedroom apartment in Ottawa was down 7.1 per cent in February from February 2020 to $1,963. In Gatineau, the average cost to rent a two-bedroom apartment has increased 26 per cent to $1,577 a month.
Across Canada, Rentals.ca says the average asking rent for all Canadian properties listed in February was $1,714 per month, down six per cent from $1,823 in February of last year.
Vancouver is the most expensive city for renters looking for one and two-bedroom homes, with average monthly rents of $1,891 and $2,568.
Toronto is the second most expensive city for renters, with the average one-bedroom renting for $1,808 and a two-bedroom costing $2,388.
Ottawa is ranked 15th for the cost of a one-bedroom apartment, while Gatineau is 25th on the list of Canadian cities.
In Kingston, the cost to rent a one-bedroom apartment was down 7.8 per cent to $1,311 a month in February.