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Apartment Rents Seen Soaring Across Canada, Surpassing $2,000 Monthly Average

Toronto and Vancouver Rents Rise More Than 20% Annually As Higher Interest Rates Deter Homeownership
Canadians are turning to renting as higher interest rates drive them out of homeownership. But the tables are turning as rental rates hit record levels. (Royal LePage)
Canadians are turning to renting as higher interest rates drive them out of homeownership. But the tables are turning as rental rates hit record levels. (Royal LePage)
CoStar News
December 27, 2022 | 5:41 P.M.

Apartment rents extended their rapid rise across the country in November, driven by affordability concerns as increasing interest rates deterred people from homeownership.

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