Average condo rents in Canada is decreasing, says report

A new report by Rentals.ca reveals the average rental rates for condos in Canada continues to fall. 

For the months March and April of 2021, Rentals.ca notes “the most expensive units are single-family homes, with landlords asking $2,502 per month on average in April 2021, compared to $1,992 for condominium apartments, $1,913 for townhouses, $1,583 for rental apartments, and $1,496 for basement apartments.”

As for specific details, condo apartments decreased in average rent by 12.2 percent between April 2020 and April 2021 from $2,269 down to $1,992 per month, while showing a monthly decline of 0.2 percent.

In April 2021, the average rent for one-bedroom units was $1,499 per month, a decrease of 9 percent. Two-bedroom units also decreased by 9 percent to $1,792 per month from $1,959 per month.

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