Rising home costs have become a recurring theme across Canada over the past few years.
This has led to the government taking many steps to help mitigate these costs in the coming years. These measures include Prime Minister Trudeau's recent announcement of an additional C$15 billion in federal loans for upcoming apartment projects and a landmark federal Tenants' Bill of Rights.
With recent moves to improve Canada's housing situation, CIC News has prepared this guide for readers to compare rental costs in Canada's most popular cities.
This article will compare rental costs in Canada's largest metro areas as of April 2024.
These are averages and are intended to provide insight into market trends.
Toronto
Toronto is the most populous city in Canada, boasting some of the highest rental prices in the country. Average monthly rent was:
Studios: C$1,727
Studio apartments: CAD 2,507
Two-bedroom apartments: C$3,356
Montreal
Montreal is another major metropolitan area in Canada, but is often noted for its more affordable rent compared to other cities in the country. Average monthly rental payments were:
Studios: C$1,471
Studio apartments: CAD 1,775
Two-bedroom apartments: C$2,281
Vancouver
According to many sources, Vancouver - British Columbia's largest city - had the highest rental costs of any major metro area in Canada. The results were as follows:
Studios: C$2,331
Studio apartments: C$2,679
Two-bedroom apartments: C$3,668
Ottawa
Ottawa is the capital of Canada and the home of the Parliament of Canada. Rents in the city were:
Studios: C$1,620
Studio apartments: CAD 1,990
Two-bedroom apartments: C$2,465
Calgary
Calgary is the largest city in Alberta and is increasingly popular for Canadian residents due to the province's lower tax rates. Rental prices were as follows:
Studios: C$1,578
Studio apartments: C$1,885
Two-bedroom apartments: C$2,274
Edmonton
Edmonton is the capital of Alberta and offers many of the same advantages as Calgary. The rental price in the city was:
Studios: C$1,046
Studio apartments: CAD 1,349
Two bedroom apartments: C$1,635
Quebec
Quebec is the capital of Quebec and one of the oldest cities in North America. After Montreal, it is the largest metropolitan region of Quebec. The rent was:
Studios: C$1,048
Studio apartments: CAD 1,353
Two-bedroom apartments: C$1,713
Winnipeg
Winnipeg is the capital of Manitoba and the largest city in the province. The rental price was as follows:
Studios: CAD 971
Studio apartments: CAD 1,349
Two-bedroom apartments: C$1,735
Hamilton
Hamilton is a city in Ontario with a growing population and is home to several universities and residential areas. The average rental price in the city was:
Studios: C$1,459
Studio apartments: C$1,781
Two-bedroom apartments: C$2,116
Kitchener
Kitchener is another large city in Ontario. Data from this selection also included the cities of Waterloo and Cambridge, which together with Kitchener make up the municipality of Waterloo and the tenth largest metropolitan area in Canada. The average rental prices in the area were as follows:
Studios: C$1,210
Studio apartments: C$1,833
Two-bedroom apartments: C$2,436
London
London is a growing city in southwestern Ontario with a large student population. The city is a regional center in southern Ontario, especially in health and education. Rental prices in the city were as follows:
Studios: C$1,425
Studio apartments: C$1,799
Two-bedroom apartments: C$2,163
Halifax
Halifax is the provincial capital of Nova Scotia and the province's most populous city. The city is both an economic and population center in Atlantic Canada, with a growing number of new residents. The rental price was:
