Ask the average renter and they can tell you: Canadian rents have soared in recent years.
The latest data from Rentals.ca and Urbanation shows the average asking rent for all property types in May rose above $2,200 for the first time. That’s up 9.3 per cent year over year, the same jump seen the month before.
In some of Canada’s least affordable markets, like Toronto and Vancouver, two-bedroom apartments are now costing renters well over $3,000 a month.
This is insane.
