Brampton rental prices increased in November but remain lower than most GTA cities
Published December 14, 2021 at 9:25 am
Rental prices in Brampton remained below the average for the majority of cities throughout the GTA in November.
According to the latest report from Bullpen Research and Consulting and Rentals.ca, the average price for a one-bedroom unit in Brampton was $1,552 last month, while the average price for a two-bedroom unit was $1,875.
Based on the findings, the average price of rent for both one- and two-bedroom units was cheaper in Brampton than nearby Mississauga, Toronto, Etobicoke, and Oakville.
Further, of the cities listed, Brampton was the cheapest for both one- and two-bedroom units in the GTA.
However, while Brampton remains cheaper when it comes to rental prices, the prices are trending up.
The average price of a one-bedroom unit increased 5.5 per cent year over year in November in Brampton, while the average price of a two-bedroom unit increased 3.1 per cent.
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“The forecast prepared by Bullpen and Rentals.ca for 2022 sees continued growth in the rental market following the unprecedented declines experienced from April 2020 to April 2021,” Ben Myers, president of Bullpen Research and Consulting, said in a news release.
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