WATERLOO REGION — The price of a rental apartment is going up in the region.
The median price for a one-bedroom apartment has increased by 15 per cent in both Cambridge ($1,837) and Waterloo ($1,745) over last year, according to the latest numbers from Zumper, a site that hosts rental listings and aggregates online price data from larger cities. In Kitchener ($1,700), it is up 17 per cent compared to last August.
While numbers vary slightly from one database to the next, rentals.ca also shows one-bedroom apartments in Kitchener getting significantly more expensive over the last year, increasing by 23 per cent to an average of $1,829 a month in August.
Kitchener is now the 11th most expensive rental market in Canada, according to the listings site. It does not include data for Waterloo or Cambridge in its report.
While higher interest rates have slowed galloping price increases in the…
