The cost to rent an apartment in these two Ottawa neighbourhoods decreased this summer
As rents continue to rise for one-and-two bedroom apartments in Ottawa and Gatineau this summer, a new report shows rents are decreasing in the Ottawa neighbourhoods of Nepean and Gloucester.
The average cost to rent a one-bedroom apartment in Ottawa increased 9.7 per cent in July from July 2021 to $1,767, according to the new report from Rentals.ca. A two-bedroom apartment in Ottawa cost $2,206 – up 8.5 per cent from a year ago.
In Gatineau, the average rent for a one-bedroom apartment in July was $1,551, up 20.3 per cent from July 2021. A two-bedroom apartment costs an average of $1,810, up 10.6 per cent from a year ago.
The monthly rentals report from Rentals.ca shows the average rent in Canada for a one-bedroom was $1,640 in July, up 10.68 per cent from July 2021. The average cost of a two-bedroom apartment was $2,098 in July, up 14.20 per cent from July 2021.
If you are looking for a place to rent in Ottawa this summer, you may want to look in the neighbourhoods of Nepean and Gloucester. Rentals.ca says the average cost to rent an apartment in those areas dropped between six and 10 per cent in July.
In Gloucester, the cost to rent a one-bedroom apartment was $1,564 in July, down 9.7 per cent from a year ago. Rent for a two-bedroom apartment in the east end neighbourhood was $1,992 last month, down 10.2 per cent from July 2021.
Rents for a one-bedroom apartment in Nepean dropped 6.2 per cent to $1,454 in July. It cost $1,850 to rent a two-bedroom apartment in July, down 0.2 per cent from a year ago.
The report from Rentals.ca shows the average monthly rent for all property types in Ottawa increased from $1,928 in July 2021 to $2,090 in July 2022.
Vancouver has the highest monthly rents for a one-bedroom and a two-bedroom apartment, followed by North Vancouver, Richmond, B.C. and Toronto. The average monthly rent in Vancouver in July was $2,500 for a one-bedroom and $3,630 for a two-bedroom.
In Kingston, the average rent for a one-bedroom apartment was $1,467 in July, up 17.9 per cent from a year ago.
Average rent for a one-bedroom apartment in Canada in July
1. Vancouver, B.C. $2,500
2. North Vancouver $2,411
3. Richmond, B.C. $2,292
4. Toronto $2,257
5. Victoria $2,107
6. Burnaby, B.C. $2,010
7. Etobicoke, Ont. $2,007
8. Guelph, Ont. $1,983
9. North York, Ont. $1,913
10. Mississauga $1,862
14. Ottawa $1,767
22. Gloucester, Ont. $1,564
23. Gatineau, Que. $1,551
25. Kingston, Ont. $1,467
26. Nepean, Ont. $1,454