Rental rates down slightly in Brampton as average Ontario price drops 2%

The asking rents for one-bedroom and two-bedroom rentals took a slight dip in Brampton last month while the Ontario-wide average dropped more than 2 per cent.

The numbers come from the latest National Rent report and show the average rental price of one-bedroom apartments was $2,009 in October, down $39 from $2,048 in September.

Two-bedroom units also came down $21 from $2,409 in September to $2,388 in October, the report from Rentals.ca and Urbanation says.

The average asking price for rentals of all property types in Brampton last month was $2,269.

Brampton ranked at No. 17 on the report’s list of the most expensive Canadian cities for rentals, book-ended by Halifax at 16 ($2,289) and Victoria at No. 18 ($2,268).

Apartment rental rate fell more than 1 per cent nationally, with Ontario rents falling by 2.2 per cent. B.C. led all provinces with the biggest drop of 5.8 per cent, followed by Alberta with a drop of 5.3 per cent.

Compared to two years ago, the average rental rates in Ontario are down 7.5 per cent, the report reads.

Across all property types, one-bedroom units saw the largest annual rent decrease of 3.4 to a Canada-wide average of $1,822, some $187 less expensive than the one-bedroom average in Brampton.

Three-bedroom rents held the steadiest, decreasing by 0.2 per cent year-over-year to an average of $2,539. The largest and most expensive rentals were four-bedroom-plus units, which averaged $2,944.

Studio apartments saw rents decline 1.5 per cent annually across Canada to an average of $1,610, while two-bedroom units had an average of $2,200 for a 1.7% year-over-year drop.