March rental reports come with some good news and some bad news for renters in Victoria.
Two reports show that in March the price of a two-bedroom rental is slightly down in Victoria, but the price for one-bedroom units continues to climb.
Zumper and Rentals.ca put out montly reports on the prices of active listings across Canada. Zumper analyzes 23 Canadian cities, while Rentals.ca looks at 35.
Rentals.ca places Victoria at the 10th most expensive in the country, while Zumper has it at fourth.
A price for a one-bedroom unit in Victoria will cost $2,080 according to Zumper, and $2,111 according to Rentals.ca. The price from Rentals.ca is a 0.2 per cent decrease from the month before, but a 5.2 per cent increase from the prior year. Zumper shows the price is a 2.5 per cent increase from the month before and a four per cent increase from the year before.
Two-bedroom costs are set at $2,677 by Rentals.ca and $2,620 by Zumper, which is a 2.4 per cent decrease from the month before according to Rentals.ca, and a 2.2 per cent decrease from the month before according to Zumper.
The top three highest rental rankings for the month of April in Canada include Toronto, Vancouver and North Vancouver with the highest monthly rents averaging at $2,704 per month for a one-bedroom apartment, according to Rentals.ca.
In B.C., roommate rents were the highest across the nation reaching a record-high average of $1,195. Ontario came in second for shared units averaging $1,089, while Quebec and Alberta had average asking rents of $900 and $876, according to Rentals.ca
The most expensive cities in Canada that had the highest asking roommate rents were Vancouver averaging $1,416 and Toronto averaging $1,273.
READ PREVIOUS FROM FEBRUARY: Average asking rent prices reach $2,193 in February, up 10.5% from 2023
Tchadas Leo
