Guelph Still Amongst Most Expensive to Rent in Canada
Guelph is listed among the priciest cities for rent in Canada, according to recent data from Rentals.ca. Last month, the average price for renting a one-bedroom apartment in Guelph was $2,023, marking a 2% rise from July 2022, and placing the city 12th in the national ranking.
A two-bedroom unit in Guelph averaged $2,396 per month in July, a decrease of 2.3% from the previous month, but a 5.9% increase from the same time in 2022.
Vancouver was identified as Canada’s most expensive rental market, with one- and two-bedroom apartments averaging monthly rents of $3,013 and $3,918, respectively.
The report from Rentals.ca reveals that the average Canadian rent hit a record high of $2,078 in July, an 8.9% annual increase, the steepest in the last three months. The 1.8% rise in average rents from June was also the most substantial monthly growth in the past eight months.
Since July 2021, the average rent in Canada has surged 21%, equivalent to an additional $354 per month.