Brampton apartments, houses among the least expensive rentals in GTA

Brampton remains one of the more reasonable communities in the GTA for renters.

According to Rentals.ca’s latest report, the average rental property in Canada in June got about 0.7 per cent more expensive than the previous month. That was after a two-per-cent climb in May.

However, with pandemic restrictions being eased across the country, demand is expected to increase in the second half of 2021 and rental rates are projected to rise as well.

Experts advise people to cxpect even larger rent increases in 2022, when most COVID restrictions are lifted, offices are open, immigration is back to pre-pandemic levels and most classrooms are in session.

Single-family homes have experienced the sharpest increase in average monthly rent since the start of 2021, from $2,214 per month to $2,553 per month, up 15 per cent.

“After unprecedented declines during the pandemic, the domestic rental market is in recovery mode with many of Canada’s largest cities seeing rent growth accelerate in June,” said Ben Myers, president of Bullpen Research and Consulting.

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“Unit showings are picking up, vacancies are declining and tenant demand is strong again in major downtown markets. However, it still could take eight to 15 months before most markets get back to their peak rent levels from late 2019.”

Brampton came in 14th on the list for average monthly rent in June for a one-bedroom home at $1,587 and 17th for average monthly rent for a two-bedroom at $1,846. Year over year, average monthly rent in Brampton in June declined 5.1 per cent for a one-bedroom and 7.9 per cent for a two-bedroom

In Ontario, average rents have trended up for three consecutive months, but were still about $135 per month cheaper on average than one year ago.

Year over year, average monthly rental rates for three-plus bedroom homes for all property types in Canada have increased from $2,336 to $2,396. For studios, one-bedroom and two-bedroom units, average monthly rents have decreased year over year.