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
BREAKING Alice Munro, Nobel literature winner revered as short story master, dead at 92
Nobel laureate Alice Munro, the Canadian literary giant who became one of the world's most esteemed contemporary authors and one of history's most honoured short story writers, has died at age 92.
Latest updates on air quality alerts, and when the smoke may reach Ontario and Quebec
Wildfires have led Environment Canada to issue air quality advisories for parts of B.C., Alberta, Manitoba, Saskatchewan and the Northwest Territories, as forecasters warn the smoke could drift farther east.
Are these Canada's best restaurants? Annual top 100 list revealed
The annual list of Canada's top restaurants in the country was just released and here are the places that made the 2024 cut.
Attack on prison van in France kills 2 officers, inmate escapes
Armed assailants killed two French prison officers and seriously wounded three others in an attack on a convoy in Normandy on Tuesday and an inmate escaped, officials said.
Steal a car, lose your driver's licence for 10 years under new Ontario proposal
Repeat car thieves may face lengthy licence bans under proposed changes to Ontario’s Highway Traffic Act.
$1.6B parts plant for Honda electric vehicle batteries coming to Niagara Region
A Japanese company has announced it will build an approximately $1.6-billion plant in Ontario's Niagara Region that will make a key electric vehicle battery component as part of Honda's supply chain in the province.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Manitoba premier to visit areas impacted by wildfire
Manitoba Premier Wab Kinew will get a close-up look at the devastation from a large wildfire burning in northern Manitoba Tuesday.
1 killed, 3 injured including toddler, after Hwy. 417 crash in Ottawa
Ontario Provincial Police are responding to a fatal collision involving two vehicles on Highway 417 in Ottawa's west end on Tuesday morning.