Toronto rents have remained stable — and therefore among the most expensive in the country — last month, according to the latest from PadMapper.
The rental-listing aggregator tracks rental listings in 24 Canadian markets, providing median asking rents each month for one- and two-bedroom apartments, with short-term rentals and Airbnbs excluded.
In May, Toronto once again had the most expensive one-bedroom apartment rents in the country, this time at a median of $2,250, down 0.4 percent — or $10 — from the previous month.
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The median for a two-bedroom apartment in Hogtown was $2,850, unchanged from the month before and only trailing Vancouver, where similar apartments go for $3,090, down 0.3 percent from April.
Toronto one-bedroom rents are now up 8.2 percent from a year ago.
Vancouver was the second-most-expensive rental market for one-bedroom units with the median increasing 1.4 percent on a month-over-month basis to $2,130.
That represents a modest annual increase of 1.4 percent as well.
Of all two-dozen markets PadMapper analyzes listings from, eight saw one-bedroom rents increase, while 13 were flat and three recorded declines.
In addition to having the city with the country’s most expensive one-bedroom rents, Ontario also lays claim to the cheapest.
In Windsor, located across Lake Michigan from Detroit, the one-bedroom median is $800.
However, it might not remain the best bargain for long: In May, it had Canada’s fastest-rising rents, pulling the median up 5.3 percent from April.
One-bedroom Windsor rents are also up the most on an annual basis, with the median 15.9 percent higher this April than it was last.
While Windsor has some of the cheapest two-bedroom rents around, the lowest median for this type was observed in St. John’s. The median two-bedroom rent in the Newfoundland and Labrador capital was a dirt cheap $890 a month.
Here’s how rents are looking from coast to coast: