The average monthly rent payment in Halifax is now close to $2,400.
A new report on rental costs shows prices are up 18 per cent in the city compared to last year.
The latest snapshot of the rental market reveals decreases in some cities in Ontario and B.C., but double-digit spikes are being felt in places like Halifax, Quebec, Saskatoon, and Edmonton.
Source: Rentals.ca
Rent for a two-bedroom in Halifax is nearing $2,700 while many three-bedrooms are over $3,100 per month.
It’s $2,050 for most one-bedroom units.
Month-over-month declines to apartment rents in July were seen in Manitoba, Newfoundland and Labrador, Quebec, and Saskatchewan.
British Columbia and Ontario were the only two provinces with annual declining rents, with B.C. down to an average of $2,570, and Ontario dropped to an average of $2,396 per month.
The highest rents are still in Toronto and Vancouver.
