Ontario Construction News staff writer
Sault Ste. Marie was the most affordable place in Ontario to rent a home last month, but prices are increasing, according to a report from rentals.ca.
Windsor finished 18th on the list of 19 most affordable cities for renters in the province, coming in behind Sault Ste. Marie.
The average rent for a one-bedroom home in Windsor last month was $1,125. A two-bedroom home was $1,453.
In Sault Ste. Marie, the average costs were $1,063 for a one-bedroom home and $1,156 for two bedrooms.
The average monthly rent across Canada in February was $1,823.
The average rent for Canadian properties in February was $1,823 per month, a decrease of 3% from January, and a decrease of 3.4% annually, according to Rentals.ca listings data. The median rental rate was $1,725 per month in February, a decrease of 4.2% from both a month ago and a year earlier ($1,800).
Across Canada, Sault Ste. Marie ranked 30th and Windsor was the 28th most affordable out of 38 cities for one-bedroom homes.
“Although Windsor rents are low for Ontario, they have been increasing,” according to rentals.ca.
According to the numbers, Windsor seems to be bucking a downward trend trend. The national average rental rate dropped three per cent month over month and 3.4 per cent year over year, the report stated.
Oshawa sits at 26th and London sits at 25th on the national list, with a one-bedroom apartment averaging $1,182 a month and two-bedroom costing $1,633.
Meanwhile, at the other end of the scale, Toronto was most expensive on the list with a one-bedroom home renting at $2,240 and a two-bedroom at $2,910. Kanata is number two, with a one-bedroom renting for $2,045 and a two-bedroom for $$2,798.
North Vancouver, BC, North York and Richmond Hill also made the top five most expensive cities. Six other cities in the Greater Toronto Area are among the top 11 most expensive places to rent.