A new report says the asking rent for a home in Canada in March was up 8.8% compared with a year ago, but down from February.
The report by Urbanation, which analyzes monthly listings from Rentals.ca, says the average asking rent for all home types was $2,181 last month.
On a month-over-month basis, asking rents in March were down 0.6%.
Based on the report, the average asking rent for a one-bedroom unit in Canada was $1,915, up 11.3% from a year ago, while the average asking price for a two-bedroom was $2,295, up 10.6% from March 2023.
Overall, asking rents for purpose-built rental apartments in March increased 12.7% compared with a year earlier to reach an average of $2,117. Condominium apartment rents averaged $2,321, up 3.9% from March 2023.
The federal government has vowed to tackle the increasing financial pressure renters are facing….
