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Guelph rents among highest in Canada, Kitchener not much better

Part of the plan includes extending rent control until December 2023. Global News

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.

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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.

Read more: Kitchener-Waterloo home prices dip slightly in July but still remain near peak

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.

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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.

Read more: ‘Incredibly stressful:’ Why renting isn’t always a solution for those who can’t buy

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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