Average rental price in Hamilton nears $1,800 per month: report
Published May 24, 2022 at 10:09 am
The average monthly price for a rental in Hamilton is up to $1,790. That’s according to a rentals.ca report for April 2022.
Hamilton finished 19 on the list of 35 Canadian cities for a one-bedroom at $1,557 and 16 for average monthly rent for a two-bedroom at $1,985.
“The April 2021 rent figure was the lowest national average rate over the last four years, with the monthly results in 2022 close to pre-pandemic rent levels,” according to the report. “April 2022’s average rent is about $25 lower than the levels experienced the same month in 2020 and 2019.”
Year over year, the average monthly rent in April for a one-bedroom in Hamilton was up 9.6 per cent and up 7.1 per cent for a two-bedroom.
Hamilton’s average for condominium and apartment rentals increased 11 per cent year over year to $1,790 in April.
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Ontario had the second-highest average rent at $2,093 per month compared to other provinces.
Toronto finished second on the list of 35 cities for average monthly rent in April for a one-bedroom at $2,065 and for average monthly rent for a two-bedroom at $2,849.
Burlington came in third on the list of 35 cities for average monthly rent in April for a one-bedroom home at $2,017 and eighth for average monthly rent for a two-bedroom at $2,261.
British Columbia, Saskatchewan, and Alberta had the highest month-over-month increases in average rent.
BC had the highest average rent in April, with landlords asking $2,347 per month for all property types.
Vancouver once again topped the list of 35 cities for average monthly rent. In April, the average monthly rent in the city for a one-bedroom home was $2,334, and the average monthly rent for a two-bedroom was $3,324.
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