Remember that housing crash that was supposed to happen?
Probably, because you first started hearing about it as early as half a decade ago and as recently as last sentence ago. One look at the salary you need to buy a house in Canada’s major cities, though, would suggest things are moving in the very opposite direction of crash.
That trend translates to the price of rent as well, where the cost of having someone else’s roof over your head continues to rise at a torrid pace.
Rentseeker.ca, the largest online tool for apartment searching, recently analyzed the numbers from coast to coast to create a series of infographics that show the average price of rent in in Canada’s urban centres.
Unsurprisingly, the Greater Toronto Area is not a place for the thrifty – Burlington and Oakville are the country’s most expensive cities to rent a one bedroom apartment in, followed by Calgary. Toronto and Mississauga round out the top five.
Check out the full breakdown below: