Rental rates higher in Kanata and Gloucester compared to other parts of Ottawa: report
Ottawa tenants are seeing a slight decrease in rental rates
for an apartment this spring, but a new report shows rental rates in Kanata and
Gloucester are higher than in other parts of Ottawa.
The monthly rental report from Rentals.ca and Urbanation
shows the average rent for an apartment or condominium in Ottawa was $2,200 in
April, down from $2,219 in March and $2,214 in February.
The average asking rent increased slightly year over year to
$2,200 in April from $2,198 in April 2024.
A one-bedroom apartment cost an average of $2,016 in Ottawa
last month, compared to $2,024 in March and $2,030 in February. Rental rates
for a two-bedroom apartment averaged $2,589 in Ottawa in April, down from
$2,599 in March.
Across Canada, the average asking rent decreased 2.8 per
cent in April from a year ago to $2,127. The report from Rentals.ca and
Urbanation says it was the seventh consecutive month of annual rent declines in
Canada.
“The rental market in Canada has shown some early signs of
stabilizing this spring with rents moving higher over the past two months,”
Shaun Hildebrand, President of Urbanation, said in a statement. “Renters are
starting to take advantage of the improvement in affordability, which is thanks
to the record amount of new supply hitting the market.”
Vancouver has the highest average rent in Canada at $2,836 a
month, with a one-bedroom costing $2,554 a month.
Toronto is second with an average rent of $2,606, while
rents in Mississauga average $2,489 a month.
Calgary saw the largest annual rent decline for apartments
in April, with rents dropping 8.9 per cent to an average of $1,903 a month.
Renting in the suburbs
Kanata and Gloucester have some of the highest rents in
Canada, according to the report.
The average asking rent in April was $2,478 a month in
Kanata and $2,286 a month in Gloucester.
Rentals.ca and Urbanation says Kanata and Gloucester have
the highest rents among mid-size markets in Ontario outside of the Greater
Toronto Area.
The average rent is $2,707 a month in Oakville, $2,513 in Etobicoke and $2,508 in Vaughan.
