What are the most expensive cities for renters in Canada?

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What are the most expensive cities for renters in Canada?

A new report by rental platform Zumper on Canada’s median rents shows that Vancouver remains the country’s most expensive city.

According to the report released Wednesday, one-bedroom rents in the city rose 0.4 percent month-on-month to reach $2,480 in January, while two-bedroom rents remained at $3,500.

The study looked at 23 cities across the country. A total of 10 cities saw rental prices rise in January, seven markets declined and six were flat. Edmonton had the largest price increase for one-bedroom rentals, up five percent from last month to $1,050, while St. Catharines, Ontario saw the largest month-to-month decline, down 6.2 percent to $1,510 fell.

The report analyzed rental data from hundreds of thousands of active listings in Canada’s most populous metro areas.

Toronto is the second most expensive city for one-bedroom rentals, up 1.8 percent monthly to $2,300, while the median price for two-bedroom rentals rose 3.9 percent to $2,950.

Burnaby, BC, ranked third on the list for one-bedroom rentals, falling 1.3 percent from last month to $2,200, while two-bedroom rentals were up 1 percent to $3,170.

Victoria ranked fourth for both one- and two-bedroom apartments at $2,100 and $2,540, respectively.

Kelowna, BC, was ranked fifth in terms of one-bedroom rental rates after falling 1.5 percent from last month to $1,920, while the median price for two-bedroom rentals rose three percent to $2,270 US dollar fell.

Cities with the highest one-bedroom rental prices are increasing month-on-month

1. Edmonton, five percent, up to $1,050

2. Kitchener, Ontario, 4.5 percent, up to $1,860

3. Calgary, 3.3 percent, up to $1,550

Cities with the largest one-bedroom rent declines month-over-month

1. St. Catharines, Ontario, -6.2 percent, up to $1,510

2. Abbotsford, BC, -4.8 percent, up to $1,380

Coverage for this story was paid for by the Meta-funded Afghan Journalists-in-Residence project.