St. Catharines fares exceptionally well on rent hikes compared to other Canadian cities
Published August 11, 2023 at 5:11 pm
In a study of 35 major Canadian cities, including nearby GTA ones, St. Catharines found itself well below the others in terms of rent hikes when comparing July 2022 and July 2023.
The study, compiled by Rental.ca, placed St. Catharines in 24th with one-bedrooms averaging $1,737/month – a 1.4 per cent hike from June and a 7.9 per cent hike from July 2022.
Meanwhile, nearby GTA cities, such as Mississauga and Brampton, saw massive year-to-year hikes of 20 per cent and 25.5 per cent respectively.
Neither fared much better when it came to straight-on cash cost of one-bedroom units with Mississauga hitting $2,364/month and Brampton averaging $2,201/month.
Meanwhile, in July, St. Catharines two-bedroom units saw just a 0.8 per cent jump from June and a low 2.1 per cent jump from last July, averaging $2,009/month.
As well, St. Catharines was below the national average of $1,860/month for a one-bedroom and $2,296/month for a two-bedroom unit.
For a nationwide look at rent hikes, check HERE.insauga's Editorial Standards and Policies advertising