The cost of renting a one-bedroom apartment in Guelph is among the highest in the country — and a move down the highway to Kitchener won’t save you much more, according to a company that provides listings online.
In its monthly rental report, Rentals.ca says that Guelph has the seventh-highest rates for a one-bedroom with the average cost checking in at $1,714 per month in July.
Kitchener is a little further down the list as the average cost is said to be $1,487 per month, which is the 18th highest in Canada.
The top three communities are said to be Vancouver, which had a whopping average of $2,185 per month, Toronto at $1,855 per month, and Etobicoke, which averaged out to be $1,802 a month.
Things are slightly more affordable when the focus turns to two-bedroom listings, as Guelph is outside the top-10, with an average cost of $2,000.
Kitchener remains more affordable as it has an average two-bedroom cost of $1,767.
If you can work remotely and want to save some cash, you could move to Lloydminster, Alta., where the average cost of a one-bedroom is only $721 or you could splurge on a two-bedroom for $834 a month.
Rentals.ca says that while prices have been on the rise over the past few months and now sit on average nationally at 1,752 per month, they are still $200 below their peak in 2019.
“As the country continues its march back to normalcy, two-bedroom condo and rental apartments are increasing at a faster rate,” the website concluded.
“Tenants continue to show a preference for larger units with many employees expecting to work from home at least part of the time moving forward.”
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