Brampton remains one of least-expensive cities to rent in GTA

Brampton remains one of the most affordable cities to rent in the GTA as well as the country.

According to the latest report from to Rentals.ca’s and Bullpen Research and Consulting, the average price of rent for a one-bedroom and two-bedroom unit in Brampton declined in October.

Based on the findings, the average one-bedroom unit in Brampton costs $1,580, a 2.6 per cent decrease month-over-month, but a 0.9 per cent increase year-over-year.

Additionally, the average price of a two-bedroom unit in October was $1,867, a 0.2 per cent decline month-over-month and 1.3 per cent decline year-over-year.

Based on these numbers, Brampton was ranked as the 18-most expensive city for one-bedroom units, and the 21-most expensive for two-bedroom units.

Among GTA cities listed, only Oshawa had a lower average price for both one- and two-bedroom units, and nearby Toronto, Mississauga, and Etobicoke were all more expensive for both one- and two-bedroom units on average.

“Most of Canada’s major cities experienced rent declines of 5 per cent to over 15 per cent at this time last year, but most of those markets are now up 2 per cent to 5 per cent since then, so still well below 2019’s market peaks,” Ben Myers, president of Bullpen Research and Consulting.

“The domestic market could exceed those peaks in 2022 with continued strong growth expected,” he said.