Last month, the rental prices in Brampton dropped by less than one percent, while the average asking rents across Ontario decreased by over 5 percent.
In April, Ontario experienced the second-largest rent reduction in Canada, with average rents falling by 5.2 percent to $2,216. British Columbia saw the most significant decline in average asking rents, which went down by 5.9 percent to $2,336.
However, in Brampton, the average asking rent for all types of properties was higher than the provincial average at $2,228 in April, a slight decrease from $2,239 in March.
The average rent for one-bedroom apartments fell around 0.2 percent month-over-month to $1,939 in April from $1,942 in May. Two-bedroom rentals also experienced a minor drop of 0.9 percent to $2,283 in April from $2,304 the month before.
With an average rent of $2,228, Brampton ranked No. 17 on the report’s list of the 20 priciest places to rent in Canada – moving up from No. 18 in March. Ajax took the 20th spot ($2,192), followed closely by Waterloo ($2,210) and Kingston ($2,228).
North Vancouver boasted the highest rental rates nationwide with an average of $3,001.
Across Canada as a whole, the average asking rent dropped by 4.7 percent year-over-year in April to reach $2,027 after decreasing by $100. This marks the 19th consecutive month of year-over-year declines according to the report. Properties with four or more bedrooms like houses and townhomes saw the biggest annual drop at 5.3 percent down to an average of $2,888.
The most significant decline among one-bedroom rents occurred compared to April last year; they fell by 4.3 percent down to an average of $1,778.
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