The PadMapper numbers are in for February and it looks like the pandemic is still having a major effect on rentals. So while the 10 most expensive spots to rent a one-bedroom have pretty much stayed the same, the prices are actually lower than normal. But in our books, they’re still pretty expensive.
No surprise here but Vancouver still comes in as the most expensive place to rent a one-bedroom with a median price of $1,940. And honestly, we don’t know many people in the city that can afford that but the price is actually the lowest it’s been since 2017. Huh, well, maybe things are looking up.
Next up we have Toronto at $1,770, which is still a pretty high amount. Then comes Burnaby at $1,680, Barrie at $1,650 and Victoria at $1,570. Surprisingly, Montreal has yet to catch up, and neither Edmonton nor Calgary cracked the list.
But it’s worth it to mention that Vancouver, Toronto, and Victoria are experiencing rent decreases. Meanwhile, Burnaby and Barrie are experiencing increases.
But hey, instability is the way of the world these days. So we’re sure next month will provide us with some similar rankings. Or maybe not, we’re no experts. Hopefully, it just means that housing can become more affordable. If you’d like to see more PadMapper data you can click here.