PadMapper has long been a favorite online tool for starting an apartment hunt, the app puts apartment listings on a Google map and includes a range of filters, helping to narrow down a search.
PadMapper has published its first Canadian Rent Report, compiled from all rental listings posted on the site in May. The report looked at the median listing prices from Canada’s 25 most populous cities.
- Victoria was the 3rd most expensive rental market in the country this May.
- One bedroom rent prices in the month increased 1.9% to a median of $1,100, while two bedrooms increased 2.9% to $1,400.
This is in line with observations showing rents for 1 bedroom apartments easily surpassing $1000/month and with vacancy rates at 0.6 per cent and rising sale prices, the cost of renting does not appear to be dropping anytime soon.
Top 5 Most Expensive Rental Markets
1. Vancouver, BC
2. Toronto, ON
3. Victoria, BC
4. Calgary, AB
5. Ottawa, ON
You can read the full report here: http://blog.padmapper.com/2016/06/14/canada-average-rent-report-june-2016/