Once again, British Columbia and Ontario are the most expensive provinces to rent a room, or rooms, in Canada.
PadMapper's national rent report shows that Montreal is the only city outside of those two provinces to crack the top 10 for the eighth straight month.
However, Canada's most expensive rental markets in Toronto and Vancouver continue to report a downward trajectory in prices.
Toronto's one and two-bedroom prices are down 8.7% and 7.0%, respectively, since this time last year.
Meanwhile, Vancouver’s one-bedroom rent has fallen 6.4% and two-bedroom rent has even dropped into the double digits with a 9.4% year-over-year dip.
Kelowna, London and Calgary all trended upwards in month over month prices, with Kelowna seeing the largest jump at 4.2%.
The cities with the largest downward trends for August were Saskatoon, Hamilton and Montreal, which all saw one-bedroom rental prices drop more than 2%.
"Exacerbating the trend from previous months, the pandemic has continued to push demand for rentals away from big, pricy cities toward more affordable, satellite ones that offer renters more space without being too far of a commute to the main cities," reads PadMappers report.
To read the full rent report for August, click here.
