Canadian apartment finder, RentSeeker.ca, released its annual Canadian Rental Housing Market Pricing and Vacancy Data infographic, providing a unique snapshot of the Canadian rental housing market.
The 2015 annual report covers pricing and vacancy rates of apartment rentals in major cities across Canada and includes Toronto, Ottawa, Montreal, Calgary, Kingston, Hamilton, Edmonton, Victoria, London, Guelph, Kitchener, Windsor, Sarnia, and a number of other cities in Canada.
According to the RentSeeker report, Toronto and Vancouver had the highest prices for one bedroom apartments with Calgary and Edmonton following with the next highest prices. Toronto also had the highest prices on two and three bedroom apartments with rental rates for a three bedroom apartment reflecting upwards of $2,300 on average.
Gatineau and Windsor reflected the lower-end pricing for apartment rentals with one bedroom, in Gatineau averaging $630 and in Windsor $664. Two and three bedrooms in Windsor averaged $798 for a two bedroom and $912 for three bedroom apartments.
Vacancy rates for all cities were relatively low, especially compared to some cities in the neighboring U.S. The lowest vacancy rates were in Vancouver with a vacancy rate of only 0.5% for one bedroom apartments. Toronto and Calgary also had lower vacancy rates with Calgary at 1.3% and Toronto at 1.6% for one bedroom apartments. Windsor and Montreal had higher vacancy rates with Montreal averaging 4.2% and Windsor averaging 4.1% for one bedrooms. The highest vacancy rates were in Gatineau, which averaged a 6.4% vacancy rate.