As temperatures rise, so do rental housing prices in Victoria.
According to a study conducted by PadMapper, Victoria has the sixth most expensive rental market in the country for the month of July, with the prices of one and two bedroom units settling at an average of of $1,280 and $1,520, respectively.
This time last year, the average price of a one-bedroom apartment in town was 14.3% less than it is now.
To compare, 12 other major cities also saw an increase in the average cost of rent in July, while prices decreased in 12 cities, and 1 other remained the same. Four cities in BC made the list of top 10 most expensive one-bedroom rent prices in Canada for the month of July.
Ottawa had the most growth in their rental housing prices, up by 5.1%, while Calgary dropped the lowest, by 5.3%.
Top 10 one-bedroom rent prices
- Toronto, ON – $2,080
- Vancouver, BC – $2,000
- Burnaby, BC – $1,500
- Barrie, ON – $1,350
- Montréal, QC – $1,310
- Victoria, BC – $1,280
- Ottawa, ON – $1,240
- Kelowna, BC – $1,160
- Kingston, ON – $1,140
- Kitchener, ON – $1,130
