Average rent in Canada for all properties rose more than 10 per cent year-over-year in July, according to a recent nationwide analysis of online listings.
The latest National Rent Report, released by Rentals.ca and Bullpen Research and Consulting, found average rent for all property types — including single-family homes, townhouses, rental apartments, condominium apartments and basement apartments — posted to the website was $1,934 in July.
This is an increase of 10.4 per cent compared to the same month in 2021.
The report found average rent in July 2022 was only $20 below the pre-pandemic peak of $1,954 in September 2019.
Month-over-month, average rent rose 2.6 per cent in July compared to June, making it the second-highest monthly jump in three years, Bullpen Research and Consulting president Ben Myers said in a press release.
“Rents were boosted by…