Hamilton continues to be one of Canada’s most expensive cities for rental housing.
According to a recent September 2022 report from Rentals.ca, Hamilton is currently in 17th place out of the 35 most expensive cities in Canada to rent a 1-bedroom or 2-bedroom residence.
The ranking shows that Hamilton’s average rental price for a vacant 1-bedroom unit is $1,696 per month, while the price for a 2-bedroom sits at $2,167 per month; a year-over-year increase of 15.5 per cent and 21.5 per cent, respectively.
— Forge & Foster (@forgeandfoster) September 23, 2022
Sitting at the very top of the September 2022 ranking include Vancouver at number 1, Toronto at number 2, Burnaby at number 3, and Burlington at number 4.
The average rent for all property types across Canada as of August 2022 was $1,959; an annual increase of 11.1 per cent.
“There continues to be outsized rent growth in Canada, with the average listing on Rentals.ca nearly $200 more expensive than a year ago,” reads the report from Rentals.ca.
Read the full report here.