Average rent went up another 11% in past year — and even getting a roommate

Canada’s rental crisis is getting worse, according to a new report that found the average asking price for rent in September was $2,149 — up by more than 11 per cent compared to a year ago.

That’s according a data analysis of tens of thousands of new rental listings across the country from and real estate consulting and research firm Urbanation.

And according to the September report, average rents aren’t just headed up — they’re increasing at their fastest pace this year.

While the general national trend is pricier rents, the situation is playing out differently in individual markets.

Toronto remains one of the most expensive in the country, with the average cost of a one-bedroom property now at $2,614 a month. But the pace of rent hikes in the Ontario city has slowed considerably in recent months, and was down by 0.2 per cent from August’s level. Compared to one year ago, Toronto rents are up by 4.9 per cent.

One reason for the deceleration in Toronto is that more people are choosing to live with a roommate to cut costs, said communications director Giacomo Ladas.

Across Canada, clocked a 27-per-cent increase in shared accommodation listings over last year, including a whopping 78 per cent spike of such listings in Ontario.

“The average roommate now in Toronto is paying over $1,300 a month,” he said in an interview. “Instead of people looking for these premium, purpose-built rentals to move in, they’re actually moving to more roommate accommodations, which are typically a little bit more affordable.”

Only barely, however. The average national asking price for a shared accommodation unit is $944 per month, an 18 per cent increase from a year ago.

WATCH | Why hundreds of tenants are going on strike:

Hundreds of Torontonians go on rent strike

Featured VideoHundreds of Toronto renters are fighting back against the rising cost of housing by refusing to pay rent. Many say landlords have bought up buildings but have not kept up with repairs while applying for rent hikes above provincial guidelines.

It’s even worse on the other side of the country in Vancouver, where a one-bedroom costs just shy of $3,000 monthly on average, while a two-bedroom is almost $4,000 a month. Both figures are up by 10 per cent over last year.

Toronto and Vancouver continue to lead the way in the average cost to rent, but other major Canadian cities are gaining fast. 

The average asking price for a one-bedroom in Calgary is $1,730 and $2,181 for a two-bedroom. Both have risen by more than 13 per cent in the past year. 

Supply and demand

Calgary shows the fastest pace of gain among cities of more than a million people. That trend is leaving people like Lindsay Tollefson in the lurch.

She rents a two bedroom apartment in the city for herself and her child. In just over a year, she’ll have seen her rent increase twice. In January, it went from $1,200 to $1,500 a month and she’s been informed that in February it will jump again to…

Read More: Average rent went up another 11% in past year — and even getting a roommate

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