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Guelph's rental market remains within top 10 most expensive in Canada

Guelph's average rent for a one-bedroom edged up 2.2 per cent in July, according to a new report
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Apartments for rent

Guelph’s rental market remains one of the highest in the country, as the average cost of one-bedroom is running tenants $1,714 per month, according to a report from Rentals.ca.

Ranking as the seventh-most expensive rental market in Canada, the local market saw a 2.2 per cent jump in the month-to-month cost of rentals, representing a $27 increase from July.

According to the report, the median rental rate at the national level was $1,649 per month in July, unchanged month over month, but down three per cent from $1,700 a year earlier.

The Guelph rental market surged into the top 10 most expensive rental cities in June, when the rental market jumped from the 12th most expensive to the seventh.

Those opting for a two-bedroom can expect to pay an average of $2,000 per month, with Guelph dropping out of the top 10 most expensive rentals in that category.

The three most expensive cities for a one-bedroom rental are Vancouver at $2,185, followed by Toronto at $1,855 and Etobicoke, with an average rent of $1,802.

Rentals.ca said rental apartments, which make up the majority of the listings on Rentals.ca, experienced a year-over-year increase of 1.3 per cent to $1,623 per month in July. Since the start of the year, the average monthly rent declined slightly heading into April 2021, before rebounding and increasing to current levels.

The report shows that of the 35 cities tracked, the average rental for a one-bedroom was $1,369 and the two-bedroom average was $1,727

The report concluded: “In July of this year, the average rental rate continued its slow and steady climb on a national basis, from the low of $1,675 per month experienced in April. Overall, the average rent for all Canadian properties listed on Rentals.ca in July 2021 was $1,752 per month, down 1.1% annually, and up 1.8% monthly. The market is still down about 10% from the late 2019 market peak.”


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Daniel Caudle

About the Author: Daniel Caudle

Daniel Caudle is a journalist who covers Guelph and area
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