Infographic – RentSeeker Blog

RentSeeker Publishes New Rental Data Showing Top 10 Most and Least Expensive Cities to Rent in Canada

RentSeeker Team — Mon, 20 May 2019 19:15:55 +0000

Numerous end of year summary reports indicated that the Canadian real estate market effectively achieved a soft landing. Over the past year and half, the industry has experienced a seismic shift that has brought the astronomical prices of 2017 back down to Earth. Rising interest rates, foreign homeowner taxes and rising household debt have all been strong forces acting on the market.

All of these factors have created an environment where housing affordability measures are at all time highs, and are expected to increase. Many of the top cities in Canada are expected to see rental rates increase anywhere between 7-11% by the end of 2019, and despite the dip in buying prices, rental prices are showing no signs of slowing down.

RentSeeker.ca takes a look at the top 10 most and least expensive cities to rent in Canada.

Top 10 Most Expensive Cities For Rental Apartments in Canada

#1 – Yellowknife, NWT – Average Rent Price = $1581/month

Yellowknife is #1 on the list of the most expensive cities to rent in Canada!

#2 – Vancouver, BC – Average Rent Price = $1507/month

Vancouver comes in 2^nd place for most expensive cities to rent in Canada.

#3 – Toronto, ON – Average Rent Price = $1360/month

Toronto is the third most expensive city to rent an apartment.

#4 – Victoria, BC – Average Rent Price = $1264/month

Fourth is Victoria on our list.

#5 – Kingston, ON – Average Rent Price = $1238/month

Kingston ranks fifth as the most expensive city to rent in Canada.

#6 – Ottawa, ON – Average Rent Price = $1214/month

Ottawa is the sixth most expensive city to rent an apartment.

#7 – Barrie, ON – Average Rent Price = $1198/month

Barrie takes the 7^th spot on the most expensive list.

#8 – Oshawa, ON – Average Rent Price = $1153/month

Oshawa is the eight most expensive city in the country to rent an apartment.

#9 – Kelowna, BC – Average Rent Price = $1139/month

Kelowna is #9 on our list.

#10 – Edmonton, AB – Average Rent Price = $1125/month

Edmonton rounds out the list of the top 10 most expensive cities to rent an apartment in Canada

Top 10 Least Expensive Cities For Rental Apartments in Canada

#1 – Thetford Mines, QC – Average Rent Price = $461/month

Thetford Mines is the least expensive city to rent an apartment in Canada!

#2 – St. Georges, QC – Average Rent Price = $478/month

The 2^nd least expensive city to rent an apartment is St. Georges.

#3 – Victoriaville, QC – Average Rent Price = $506/month

Victoriaville is #3 on the list of least expensive cities in Canada to rent an apartment.

#4 – Edmundston, NB – Average Rent Price = $511/month

The fourth least expensive city to rent an apartment is Edmundston.

#5 – Matane, QC – Average Rent Price = $514/month

Matane is #5 on our list.

#6 – Trois-Rivieres, QC – Average Rent Price = $534/month

The sixth least expensive city to rent an apartment in Canada is Trois-Rivieres.

#7 – Saguenay, QC – Average Rent Price = $547/month

Saguenay ranks #7 on our list of the least expensive cities to rent in the country.

#8 – Drummondville, QC – Average Rent Price = $556/month

Drummondville is the eight least expensive city to rent an apartment in Canada.

#9 – Sherbrooke, QC – Average Rent Price = $588/month

In 9^th position for least expensive city is Sherbrooke.

#10 – Kentville, NS – Average Rent Price = $672/month
Taking #10 on our list of the least expensive city to rent an apartment in Canada is Kentville.

Summer Cool-Off: GTA Home Prices and Sales Dip in July

RentSeeker Team — Wed, 23 Aug 2017 17:06:15 +0000

The Greater Toronto Area housing market continued its downward spiral in July – for the third consecutive month – as sales dropped a whopping 40.4 per cent, reveals the Toronto Real Estate Board.

That’s a considerable chill, even for the typically cooler July market says Lauren Haw, Broker of Record at Zoocasa Realty. “The typical month-over-month decline from June to July is 15 per cent, this year we saw a 30 per cent decline in the same period, indicating an increased velocity in the slowdown,” she says.

The sale downturn effectively yanked on prices too – the average price for all combined home types was $746,218 last month- a 6 per-cent decline from June, though 5 per cent higher year over year. All home segments were impacted, from detached homes sales (with sales down 29.4 per cent month over month and prices down 5.25 per cent to an average of $1,000,336), to Toronto condos (sales dropped 22.3 per cent, and prices 3.46 per cent, to an average of $501,750), to Toronto townhouses (down 29.5 per cent, with sale down 1,84 per cent to $541,144).

However, those numbers look at the GTA in aggregate – some markets are certainly weathering the downward trend better than others. For those looking at renting vs buying, here is an INFOGRAPHIC from leading Canadian rental website RentSeeker.ca showing Canada’s least and most expensive cities to rent an apartment.

To illustrate how various regions are faring, real estate resource Zoocasa has compiled the data into a heat map, indicating the differences in sales and price growth (or lack thereof) per region. Check it out below:

By: Penelope Graham, Zoocasa

Penelope Graham is the Managing Editor of Zoocasa.com, a leading real estate resource that uses full brokerage service and online tools to empower Canadians to buy or sell their home faster, easier, and more successfully.

Summarizing Ontario’s New Rent Control Rules and Fair Housing Plan

RentSeeker Team — Wed, 10 May 2017 04:22:32 +0000

On April 20^th 2017, the provincial government of Ontario introduced new legislation known as the Fair Housing Plan. The new housing affordability measures are primarily focused on assisting renters and home-buyers across the province.

With housing prices and rental costs having increased year-over-year for much of the past decade in many cities including Toronto, and continuing to rise to unprecedented levels creating what many are calling a “Canadian housing crisis”, the Premier has introduced a set of 16 comprehensive measures with claims that “it will help more people find an affordable place to call home, while bringing stability to the real estate market and protecting the investment of homeowners”.

The Fair Housing Plan has caused quite a bit of debate with many proponents arguing both; for, and against, the new proposed legislation.

Many would-be home-buyers and renters have shown support for the new rules, and are hoping they will help stabilize and even bring down the cost of home ownership and cost of renting.

While others argue that the new rent-control rules are “the exact opposite” of what is needed to deal with housing affordability problems.

To understand the new Fair Housing Plan and new rent control rules, leading Canadian real estate website RentSeeker.ca published a new INFOGRAPHIC showing a summary of the new legislation and how it affects;

New Renters
Existing Tenants
Home-Buyers
and Landlords

(for media inquiries or to share our INFOGRAPHIC, please e-mail us at media@rentseeker.ca)

Let us know what you think about the New Fair Housing Plan by joining the conversation with RentSeeker.ca on Twitter and on Facebook.

Canada’s Most and Least Expensive Cities to Rent Apartments: RentSeeker

RentSeeker Team — Tue, 28 Mar 2017 14:12:27 +0000

With Canada’s real estate market showing signs of stabilization in various cities, possibly and likely due to policy measures on housing by the Canadian government over the last few years, other cities like major cities; Vancouver and Toronto are still showing signs of increasing home prices for houses, condos and apartment rentals.

With so much internal discussion over the last decade or so by economists, investors, and policy makers about Canada’s real estate market in internal debate, Canada has also been making many global lists of most expensive cities to live, with real estate prices rising and reaching unprecedented levels.

According to Business Insider, Vancouver ranked #3 on the most expensive cities to live in, around the world, with the following caption showing how real estate prices are impacting the economy, both locally and globally.

Vancouver, British Columbia: House prices in Vancouver rose the equivalent of a full year’s household income in only a year; it had a median multiple of 11.8.

In a recent article published on Huffington Post, RentSeeker.ca presented multiple factors that could impact the Canadian housing and rental markets in 2017, to try and provide some clarity and insight into various possibilities that can impact the real estate market for the coming months and year.

To provide an overall snapshot of Canada’s rental market, leading Canadian real estate search website, RentSeeker.ca, published a New INFOGRAPHIC showing the Top 10 Most and Least Expensive Cities to Rent Apartments across Canada.

As expected Vancouver and Toronto are listed in the Top 10 Most Expensive Cities to Rent in RentSeeker.ca’s New INFOGRAPHIC with average rent costs for a 1 bedroom apartment in Vancouver showing at $1,159 (while the real-time asking price for many newer rental properties in Vancouver is probably closer to $1,700 to $2,300 according to data from RentSeeker.ca). Average rents for 1 bedroom apartments for rent in Toronto came in at $1,132 (while once again, the real-time asking price for newer apartment rentals on the market are closer to $1,300 to $1,400).

At the top of the list of the Top 10 Least Expensive Cities to Rent was Shawinigan in Quebec with average rents for a 1 bedroom apartment according to Canada Mortage and Housing Corporation coming in at $381.

View the full INFOGRAPHIC from RentSeeker.ca here:

(for media inquiries, or to share our INFOGRAPHIC, please e-mail us at media@rentseeker.ca)

*Data from this INFOGRAPHIC, and the above article, showing average and real-time rent prices in cities across Canada is based on data from Canada Housing and Mortgage Corporation (CMHC), and apartment finder RentSeeker.ca.

Join the conversation by following RentSeeker.ca on Twitter and RentSeeker.ca on Facebook!

20 Toronto Neighbourhoods With Affordable Townhouses

RentSeeker Team — Thu, 16 Feb 2017 23:05:48 +0000

Looking to break into the Toronto real estate market, but seek more square footage than the typical condo provides?

Given the average house price now tops $1.3 million in the city, according to the Toronto Real Estate Board, you better have a significant nest egg if you dream of detached living. The next best option is to find a great neighbourhood with affordable townhomes.

Average Toronto Income Comes Up Short

When it comes to homebuyer affordability, the numbers can be daunting. Let’s say a borrower earns the median Toronto household income of $76,219, pays at least 20% down on their home purchase, and qualifies for a 2% variable-rate mortgage with a 30-year amortization.

Even in this best-case scenario, they’d still only be granted $636,886 in affordability by their lender. That amounts to precious little in a market where bidding wars are the norm and homes increasingly sell for hundreds of thousands of dollars over asking.

Searching Beyond City Borders

Many buyers who find themselves priced out of the market “drive until they qualify”; they’ll buy a house in a further-flung GTA community – TREB reports the average home can be found there for $795,569 – and brace for a daily car or train commute.

But suburban life isn’t for everyone. And, while raising a family in a high-rise is becoming a more common tactic (developers are even creating larger units to meet demand), it’s not an ideal situation for all.

Townhomes: The New Toronto Real Estate Reality

For buyers who wish to remain in the city but need more space, townhomes are quickly becoming the new low-rise standard. According to MLS townhouse and detached house sold numbers compiled by Zoocasa, the average detached home price skyrocketed a whopping 83.% from 2011 to 2016. By comparison, townhome prices surged only 53.3%, to an average of $562,187 – still within the realm of affordability for many Toronto buyers.

To help homebuyers on their home search, Zoocasa has identified the top 20 most affordable neighbourhoods for Toronto townhomes, along with the change in demand, and average time on the market.

Check out the infographic below to find a townhouse option in your price range

By: Penelope Graham, Zoocasa

New Report Shows Average Rents and Vacancy Rates across Canada | RentSeeker.ca

RentSeeker Team — Tue, 13 Dec 2016 19:44:11 +0000

December 13th 2016 – News Release

Canada’s Largest Real Estate Search Website – RentSeeker.ca released it’s New Updated 2016 Annual Report today showing the;

Average Rent Costs and Vacancy Rates for Apartment Rentals in cities across Canada

RentSeeker.ca’s NEW updated report and data (below) using it’s popular INFOGRAPHIC format, shows the average cost of rent and vacancy rates for the following suite types across Canada:

Studio | Bachelor Apartments
1 Bedroom Apartments
2 Bedroom Apartments and
3 Bedroom Apartments across Canada

“As one of Canada’s largest publicly traded multi-family REITs, we’ve seen occupancy and rental rates continue to remain steady through most of Canada. When the economy begins to recover in many parts of Alberta and British Columbia, we anticipate occupancy rates in these regions to improve,” said Todd Cook, President and Chief Executive Officer of Northview Apartment REIT.

RentSeeker.ca’s Housing & Rental Market INFOGRAPHICs were one of the most shared in Canada on Social Media in 2016!

For media inquiries, or to share RentSeeker’s NEW [INFOGRAPHIC], please contact us at: Media@RentSeeker.ca

(Click on INFOGRAPHIC to enlarge for full size viewing)

The new updated data and report by RentSeeker.ca follows last year’s Average Rents across Canada INFOGRAPHIC, which RentSeeker.ca released and published and was featured and shared by Canada’s largest media outlets and economists, and shared in many government and housing reports including; CTV News, Global News, CP24, Money Sense, Huffington Post, The Loop, The Toronto Foundation, and many other websites.

Let us know what you think and join the conversation by following RentSeeker.ca on Twitter and Facebook!

New Data by RentSeeker Shows Cost of Housing in Canada and the U.S.

RentSeeker Team — Thu, 10 Nov 2016 03:06:37 +0000

With Donald Trump’s amazing victory in the 2016 U.S. Elections, Canada’s immigration website went down due to overwhelming traffic according to The Independent.

RentSeeker.ca – Canada’s largest real estate search website and apartment finder, which provides real estate marketing services for most of Canada’s largest Landlords and REIT’s and also publishes real estate data which is used by economists, journalists, government, and media outlets, published a NEW INFOGRAPHIC today showing…

The Cost of Housing across Canada and the U.S. and the Income Needed to Purchase a House, Based on Current Housing Values and Interest Rates.

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For media inquiries, or to share this INFOGRAPHIC, please contact us.

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Newly Updated Rental Data Shows Average Rents for 20 Canadian Cities

RentSeeker Team — Wed, 14 Sep 2016 05:08:50 +0000

September 14th 2016 – RentSeeker.ca – Canada’s Leading Real Estate Listing Website and Apartment Finder, published newly updated rental data in what’s become it’s highly popular [INFOGRAPHIC] format, which has become a popular resource for Renters, Landlords, Economists, and Journalists which shows Average Rent Prices for September 2016 with Data Provided for 20 Canadian Cities.

RentSeeker.ca’s new [INFOGRAPHIC] shows updated average rent prices for 20 cities across Canada which RentSeeker.ca was able to provide through it’s extensive database of apartment listings using a newly developed real-time algorithm program. A more comprehensive report showing the average rent costs for cities across Canada is scheduled to be published in early December 2016. RentSeeker.ca’s last Canada wide report showing the average rent costs in cities across Canada was published in December 2015 and can be viewed here:

This new updated report and [INFOGRAPHIC] covers the following apartment sizes;

Average Rent Prices for Studio / Bachelor Apartments
Average Rent Prices for 1 Bedroom Apartments
Average Rent Prices for 2 Bedroom Apartments
Average Rent Prices for 3 Bedroom Apartments

and the report provides updated average pricing for apartment rentals in real-time for the following cities;

For media inquiries or to share this [INFOGRAPHIC], please contact Media@RentSeeker.ca

(Click the [INFOGRAPHIC] to Enlarge)

RentSeeker.ca’s Housing and Rental Market Reports and INFOGRAPHIC’s are utilized by Home-Buyers, Renters, Students, Landlords, Property Managers, Real Estate Brokers, Mortgage Professionals, Economists, and Journalists providing an in-depth analysis of Canada’s Real Estate landscape. This newest report follows RentSeeker.ca’s Recent Report showing the National Average Cost of Housing across Canada with Year-over-Year Price Comparisons which was featured on Huffington Post, CTV News, and other Canadian media outlets.

For up-to-date information on Canada’s Housing and Rental Markets, subscribe to RentSeeker.ca’s Newsletter on our Blog.

And follow RentSeeker.ca on Social Media:

National Average Cost of Housing across Canada | New 3-D INFOGRAPHIC Map by RentSeeker.ca

RentSeeker Team — Mon, 16 May 2016 15:16:30 +0000

Canada’s housing and rental markets continue to be a topic of conversation for real estate experts and economists, journalists and media outlets, government officials and the general public.

For years now, many have suggested that Canada’s real estate market is a “bubble waiting to burst” with the slightest change in interest rates or other economic factors. Yet, those predictions continue to be on “stand-by” mode, while housing continues to maintain it’s status on The Economists list of Most Overvalued Real Estate Markets Globally.

RentSeeker.ca, one of Canada’s Largest and Most Visited Real Estate Websites has released a NEW 3-D INFOGRAPHIC Map showing the Average Cost of Housing across Canada with Year over Year Price Comparisons.

For media inquiries or to share our INFOGRAPHIC, please email: media@rentseeker.ca

(Click on the INFOGRAPHIC to enlarge)

Overall, the national average of housing costs across Canada increased 15.7% with the national average cost per house at: $508,567 as of March 2016 – from an average of $439,477 as of March 2015.

Here are some highlights from RentSeeker.ca’s new INFOGRAPHIC showing the top 5 cities with year over year gains and the top 5 cities with year over year decreases across the country.

Cities Showing Top Percentage Gains Year-over Year:

Vancouver -> 2016 Average Cost: $1,093,267 | (+22.6% from 2015)
Prince Edward Island -> 2016 Average Cost: $194,094 | (+17.1% from 2015)
Victoria -> 2016 Average Cost: $575,858 | (+13.2% from 2015)
Toronto -> 2016 Average Cost: $688,181 | (+12.1% from 2015)
Hamilton – Burlington -> 2016 Average Cost: $486,008 | (+9.5% from 2015)

Cities Showing Top Percentage Decreases Year-over Year:

Sherbrooke -> 2016 Average Cost: $288,750 | (-16.7% from 2015)
Windsor -> 2016 Average Cost: $371,223 | (-8.4% from 2015)
Saint John -> 2016 Average Cost: $154,700 | (-1.8% from 2015)
Quebec City -> 2016 Average Cost: $259,851 | (-.08% from 2015)
Calgary -> 2016 Average Cost: $455,220 | (-.05% from 2015)

Let us know what you think about Canada’s real estate markets and share your insights, comments, and predictions by joining the conversation with RentSeeker.ca on Twitter and Facebook!

Average Cost of Renting in Ontario

RentSeeker Team — Tue, 01 Mar 2016 17:17:13 +0000

While the actual cost of rent in an Ontario apartment, condo or house depends on a number of factors (including; number of bedrooms, neighbourhood, location, age and condition of the property, and more), Canada’s leading apartment finder and real estate marketing website, RentSeeker.ca, published it’s updated average cost rent in Ontario data.

The data is presented in an easy to read infographic.

Renters and landlords are welcome to use the data below as a resource for reference.

The new INFOGRAPHIC published by RentSeeker.ca includes theist of rent for the following units across Ontario.:

Studio / Bachelor Apartments and Condos
1 Bedroom Apartments and Condos
2 Bedroom Apartments and Condos
3 Bedroom Apartments and Condos

For media inquiries and to share our INFOGRAPHIC please email: media@rentseeker.ca

Apartment Rentals and Condos in Toronto topped the pricing charts with;

Studio Apartments and Condos in Toronto averaging $902

1 Bedroom Apartments and Condos in Toronto averaging $1,110

2 Bedroom Apartments and Condos in Toronto averaging $1,301

and 3 Bedroom Apartments and Condos in Toronto averaging $1,531

Other cities across Ontario included in the newly published report include:

Apartments and Condo Rentals in London, Ontario

Apartments and Condo Rentals in Ottawa, Ontario

Apartments and Condo Rentals in Hamilton, Ontario

Apartments and Condo Rentals in Kingston, Ontario

Apartments and Condo Rentals in Kitchener, Ontario

Apartments and Condo Rentals in Windsor, Ontario

Apartments and Condo Rentals in Barrie, Ontario

Apartments and Condo Rentals in Brantford, Ontario

Apartments and Condo Rentals in Stratford, Ontario

Apartments and Condo Rentals in St. Thomas, Ontario

Apartments and Condo Rentals in Peterborough, Ontario

Apartments and Condo Rentals in Guelph, Ontario

Apartments and Condo Rentals in St. Catharines, Ontario

To view RentSeeker.ca annual report showing the average cost of rent across Canada – please refer to our annual INFOGRAPHIC published in Decemeber 2015 – which can be found here:

Other media outlets featuring RentSeeker.ca’s annual reports and INFOGRAPHICs can be found here:

For more information and stay up to date on all the latest real estate and rental market data and information, subscribe to RentSeeker.ca’s real estate blog, and follow RentSeeker.ca on Twitter and Facebook.