Rent prices continue to rise across Canada and, unfortunately, it doesn’t look like it is going to slow down anytime soon.
According to Rentals.ca’s latest report, rent prices across the country are expected to rise in 2022, upwards of 7% in some places.
In November 2021, the average rent for Canadians was $1,817, up 3.6% since November of last year and up 1% since October 2021.
According to the November rent report, Victoria ranked twelfth on the list of most expensive cities to rent in Canada.
The price of a one-bedroom rental in Victoria was up 8% since November 2020, a total of $1,695 per month.
For the same month, the price of a two-bedroom rental was a whopping $2,563.
November marked the seven straight month of rent increases since they hit a high in April 2021.
Overall, BC saw the highest rent in the country during the last quarter of 2021.
