B.C.’s average rental rate remains highest in Canada

British Columbians continued to pay the highest average rental rates in Canada despite marking a decline on a month-over-month basis.

Data from Rentals.ca and Bullpen Research and Consulting shows that B.C.’s average rental rate in August was $2,084, marking the seventh month in a row that B.C.’s rent was the highest in the nation. The provincial rental rate, which accounts for all available rental properties, was down 4.3 per cent from July’s figure, but is still up 4.2 per cent from the $2,001 recorded in August 2020.

Canada’s second highest rental rates for August was recorded in Ontario, where the average rent for all available rental properties was $2,045.

Meanwhile, the national average rent saw increases for the fourth consecutive month, rising to $1,763 per month in August 2021. That figure represents a 0.6 per cent increase from July, and is fairly consistent with the $1,769 recorded in August of 2020.