St. Catharines finishes 23rd of 35 national cities for monthly rent hikes
Published May 15, 2023 at 12:44 pm
On a list of 35 cities across Canada, St. Catharines finished 23rd for one-bedroom rent hikes in April and 27th for the average monthly increases for two-bedroom units.
However, costs for both sized rental units were well below the national average, according to latest National Rent Report created by Rentals.ca and Urbanation.
A one-bedroom in St. Catharines runs on average $1,671/month, an increase of 4.2 per cent from March and 16.2 per cent from April 2022.
A two-bedroom in the Garden City averages $1,970/month, an actual decrease of 1.3 per cent from March and just a 7.2 per cent hike from April 2022.
The Canadian national average from April was $1,811/month for a one-bedroom and $2,239/month for a two-bedroom.
While there were 12 cities with lower numbers than St. Catharines, most were out west in Saskatchewan and Alberta.
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“Canadians have become accustomed to increasing rents after the pandemic. Record immigration with most newcomers renting, high interest rates keeping first-time home buyers on the sidelines, and inflation are all drivers of rising rents, increasing demand and low vacancy rates,” said Matt Danison, CEO of Rentals.ca Network.
Below are the Bottom-15 for the list of 35 cities, showing (on the left) the one-bedroom costs, followed by the month-to-month hike and then year-to-year increase while two-bedrooms are on the right side.
