The average asking price for rent in Canada reached $2,196 in January, a 10 per cent increase from this time last year — marking another record high amid a deepening rental crisis.
According to data released Wednesday by Rentals.ca and market research firm Urbanation, the average asking price of rent went up by 20 per cent (or $373 per month) compared to rental prices from January 2020, two months before COVID-19 pandemic lockdowns began.
Rent prices soared last year as supply struggled to keep up with demand, leading to the lowest national vacancy rate on record since the Canada Mortgage and Housing Corp. began tracking that data in 1988.
While prices are
