Brampton ranked 9th-most expensive Canadian city for rental properties

Brampton was in the top 10 of Canada’s most expensive cities for rentals last month as prices have bounced back from record lows seen during the COVID-19 pandemic.

The average rental price for all property types across the country spiked some 20 per cent in April compared to rates seen during the same period in 2021, up to $2,002 from the April 2021 pandemic-low of $1,662, according to the latest rental report from Rentals.ca and Urbanation.

And with an average rent just slightly higher than the national average, Brampton was on the wrong side of a top-10 list of Ontario cities with the highest rents.

Brampton had the 9th-highest rental rates in Canada last month, according to the report.

One-bedroom units in Brampton rented for an average of $2,075 in April, up more than 2 per cent from March, while two-bedroom units were at an average of $2,442 for an increase of nearly 3 per cent.

North York took the 8th spot with an average of $2,144 for one-bedroom units while Scarborough cracked the top 10 with an average rate of $2,067.

Year-over-year, the average monthly rent in Brampton for April was up 28.1 per cent for a one-bedroom unit and up 26.8 per cent for a two-bedroom.

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Vancouver had the most expensive rental rates in the country at $2,787 for a one-bedroom unit and $3,741 for a two-bedroom.

The report found that annual rent inflation in April was highest in Ontario last month with an average asking rent for purpose-built apartments and condominium apartments increasing more than 16 per cent.

Alberta followed close behind with annual growth of 14.8 per cent which pushed average rents up to $1,500 — a $921 discount compared to Ontario.

Compared to the pandemic low in April 2021, rents have increased the most for two-bedroom apartments with 20 per cent growth.

The report also found that both Brampton and Scarborough are leading the pack for annual rent growth in the last month for condominium and purpose-built apartments with increases of 31.2 and 31.9 per cent respectively.