Monthly Rental Rates in Canada Hit New High

Friday, 11 August 2023 11:33

By Linda Morgan

Average rent in Canada last month was $2,078

Canadian rental rates hit a new high last month.

According to Rentals.ca and research firm Urbanation, the average asking rate for rent in Canada was $2,078.

This is about 9 per cent higher than a year earlier.

It's the fastest pace of growth over the past three months.

Experts say the rise is due to an increase in college and university students signing leases before school starts, as well as high population growth and residents holding off on buying a home as interest rates rise.

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Monthly Rental Rates in Canada Hit New High

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