Average rental price hit record high in Canada, double-digit spike in Barrie

The rent’s due, and for tenants looking for a place to live at a reasonable monthly rate, it is becoming more challenging.

Rentals-dot-ca https://rentals.ca/national-rent-report says the average rent being paid in Canada hit $2,117 a month in August, the highest it has ever been, up 9.6 per cent from a year ago.

Vancouver continued to lead the pack with average monthly rent for a one-bedroom at just under $3,000.

In Barrie, average rent for a one-bedroom climbed 11.3 per cent year-over-year in August to $1,915, and a jump of 1.3 per cent compared to July.

Rentals-dot-ca says while the annual rate of inflation for asking rents was lower than the 12 per cent increase recorded a year ago in August 2022, it represented a four-month high.

Of the 35 cities listed, Saskatoon had the cheapest average rent for a one-bedroom at just over a thousand bucks a month.