This is how much the average rent in Ontario rose in July
The cost of renting a home in Ontario rose more than almost every other province in Canada last month, according to a new national analysis of online listings.
The latest National Rent Report, released this week by Rentals.ca and Bullpen Research and Consulting, found Ontario ranked second when it comes to the highest average rent for all types of dwellings in July.
The only province that surpassed Ontario was British Columbia with a 19 per cent year-over-year increase.
In Ontario, the average residential rental climbed to $2,332 a month in July, marking a 3.1 per cent monthly increase and a 15.2 per cent annual bump.
A LOCAL LOOK
Overall, the average rent in central Toronto rose 24 per cent year-over-year in July.
For a one-bedroom unit, rent sat at $2,257 in July, marking a 21.6 per cent year-over-year increase in Toronto.
For a two-bedroom apartment, that increase climbed 25 per cent to $3,259.
The month-over-month average rent in the city saw a four per cent increase for a one-bedroom and 7.8 per cent for a two-bedroom.
While downtown Toronto is notorious for its expensive rental units, three of its former townships, Etobicoke, North York and Scarborough, also saw significant rent increases in July.
In Etobicoke, the average cost of renting a one-bedroom unit reached $2,007 in July and $2,582 for a two-bedroom
Year over year, that marks an 11.5 per cent increase for a one-bedroom in Etobicoke and a 9.3 per cent increase for a two-bedroom.
Over in North York, renters paid on average $1,913 for a one-bedroom last month and $2,469 for a two-bedroom suite.
Year over year, average monthly rent in July rose 14.6 per cent for a one-bedroom in North York and up 21.9 per cent for a two-bedroom.
Eastward, in Scarborough, the cost of renting a one-bedroom was $1,635 in July. Rent for a two-bedroom unit came in at $2,133.
Year over year, rent went up 3.1 per cent for a one-bedroom in Scarborough and 15.2 per cent for a two-bedroom.
The study found tenants in other parts of the GTA are also paying significantly higher rent.
In Mississauga, a one-bedroom went for $1,862 last month, while the rent for a two-bedroom came in at $2,394.
Year over year, rent rose 6.2 per cent for a one-bedroom in Mississauga and 12.4 per cent for a two-bedroom.
In Vaughan, a one-bedroom suite was $1,825 last month. Rent for a two-bedroom topped $2,396.
Year over year, that marks a 7.4 per cent increase for a one-bedroom in Vaughan and 12.5 per cent for a two-bedroom. Month over month, average rent in Vaughan was up 5.6 per cent for a one-bedroom and up 8.1 per cent for a two-bedroom.
Brampton tenants paid $1,772 for a one-bedroom apartment in July and $2,388 for a two-bedroom unit.
Year over year, rent increased 13.8 per cent for a one-bedroom in Brampton and was up 33.2 per cent for a two-bedroom. Month over month, average rent in Vaughan was up 9.6 per cent for a one-bedroom and up 16.4 per cent for a two-bedroom.
Lastly, in Oshawa, the average cost of renting a one-bedroom unit was $1,626 and $1,953 for a two-bedroom.
Year over year, that marks a 8.1 per cent jump for a one-bedroom in Oshawa and 16.8 per cent for a two-bedroom.
Outside of the GTA, monthly rent inflation rose from 24 per cent to 26 per cent in London, Hamilton and Kitchener.
CTVNews.ca Top Stories
NEW From yearning for a change to cost of living, why some Canadians have left or may leave the country
For some immigrants, their dreams of permanently settling in Canada have taken an unexpected twist.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
NEW Capital gains tax change 'shortsighted' and 'sows division' business groups tell Freeland
Forging ahead with increasing Canada's capital gains inclusion rate 'sows division,' and is a 'shortsighted' way to improve the deficit, business groups are warning Finance Minister Chrystia Freeland.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
What is whooping cough and should Canadians be concerned as Europe declares outbreak?
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Ontario man frustrated after $3,500 paving job leaves driveway in shambles
An Ontario man considering having his driveway paved received a quote from a company for $7,000, but then, another paver in the neighbourhood knocked on his door and offered half that rate.
Florida deputies who fatally shot U.S. airman burst into wrong apartment, attorney says
Deputies responding to a disturbance call at a Florida apartment complex burst into the wrong unit and fatally shot a Black U.S. Air Force airman who was home alone when they saw he was armed with a gun, an attorney for the man's family said Wednesday.
Air Canada ranks near bottom on customer satisfaction: survey
Air Canada ranks below most other major North American airlines on customer satisfaction, with airfares a particular sore point, according to a new survey.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.