Median rent for a one-bedroom apartment in Barrie declined $100 last month

Residential rental rates in Barrie declined last month but remains in the Top 5 Most Expensive Markets in Canada.

Rental website found the median price for a one-bedroom unit in October was $1,620. That’s down $100 from September but still 12.5 per cent higher than a year ago.

The median price for a two-bedroom unit was down $30 to $1,800, which is 7.8 per cent higher than last year at this time.

The downward adjustment allowed Barrie to fall from the third most expensive city for rentals in Canada to the fifth.

Vancouver remains the most expensive city of the 11 surveyed, with a median monthly rent of $2,100 for a one-bedroom unit.

Top 5 Most Expensive Markets

1. Vancouver, BC was the most expensive city in the nation with one-bedroom rent falling 1.4% to $2,100, while two-bedrooms grew 3.4% to $3,000.

2. Toronto, ON ranked as 2nd with one and two-bedroom rents both staying flat at $1,800 and $2,250, respectively, last month. On a year-over-year basis, two-bedroom rent is down over 15%.

3. Victoria, BC moved up 2 spots to become the 3rd priciest market with one-bedroom rent jumping 5% to $1,680 and two-bedrooms climbing 5.1% to $2,260.

4. Kelowna, BC remained 4th with one-bedroom rent increasing 3.7% to $1,670, while two-bedrooms dropped 5% to $2,070.

5. Barrie, ON fell 2 positions to rank as the 5th most expensive city with one-bedroom rent declining 4.7% to $1,620 and two-bedrooms decreasing 2.7% to $1,800.

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