A Canadian rent report puts Victoria in sixth place for the highest one-bedroom median rent prices in the country.
The July 2019 report comes from PadMapper, a location-based apartment rental search engine, and lists 10 cities with the most expensive median rent. Toronto topped the chart with $2,290 for a one bedroom apartment, followed by Vancouver at $2,200.
All of the cities on the top ten list had an average above $1,000 per month – the lowest prices were in Ottawa and Hamilton where the average price is $1,250.
In Victoria, the average cost to rent a one-bedroom apartment is $1,390 – up nearly nine per cent since July, 2018.
The average cost of a two-bedroom unit in Victoria is up 13.8 per cent to $1,730 per month.
PadMapper analyzes rental prices from active listings across the country and aggregates the data month-to-month to calculate media asking rent for the top 24 most popular metro areas.
In June, Victoria city council recently voted to implement a mandate for developers to include 20 per cent of their units as affordable housing options in projects with 60 units or more.
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