Vancouver remains the most expensive city to rent an apartment in sa国际传媒 heading into 2025.
Rentals.ca has released its , which ranks the average asking rents for one- and two-bedroom units across the country.
The report's authors write that prices were down at the end of 2024 by 3.2 per cent from the end of 2023, falling to a 17-month low of $2,109 in December.
"The decline in rents last year followed growth of 8.6% in 2023 and 12.1% in 2022, representing the first time that rents experienced an annual decrease since the COVID-19 pandemic in 2020 when rents fell 5.4 per cent," they write.
Vancouver is sa国际传媒's priciest market for renting a one-bedroom apartment, with prices averaging $2,512, and the most expensive place to rent a two-bedroom, with prices averaging $3,430. However, the cost for renting either unit dropped year over year, with prices down -0.9 per cent and -6.3 per cent, respectively (see slides two through four).
Another Metro Vancouver city, Burnaby, is the country's second most expensive market, with one-bedrooms averaging $2,366 and two-bedrooms averaging $3,055.
Cities in Ontario dominated the rental list, with seven cities in sa国际传媒's top 10 most expensive cities.
Ontario's largest city ranked third on the list with one-bedrooms in Toronto averaging just shy of Burnaby's at $2,360. However, two-bedrooms averaged more than Burnaby's, at $3,077.
Mississauga, Ontario ranked fourth, with one-bedrooms averaging $2,263 and two-bedrooms averaging $2,691.
North York, Ontario rounded out the top five, with its one-bedrooms averaging $2,240 and two-bedrooms averaging $2,691.
More Ontario cities dominate top 10 list
Etobicoke, Ontario came sixth, with one-bedrooms averaging $2,197 and two-bedrooms averaging $2,775. Burlington, Ontario landed in seventh, with one-bedrooms averaging $2,190 and two-bedrooms averaging $2,529.
Brampton was the eighth priciest city, with one-bedrooms averaging $2,103 and two-bedrooms averaging $2,338.
Another sa国际传媒 city ranked ninth. Victoria's one-bedrooms averaged $2,082. However, its two-bedrooms averaged higher than Burlington, Brampton, or Guelph's, at $2,774.
Guelph, Ontario rounded out the top 10, with one-bedrooms averaging $2,039 while its two-bedrooms averaged $2,361.
uses data from vacant units on its Network of Internet Listings Services (ILS) to reflect current market trends. Rental units listed for over $5,000 or under $500 were removed.
