The cost to rent an apartment in Ottawa dropped slightly this summer, with one-bedroom apartments now renting below $2,000 a month.
A new report from Rentals.ca shows the average cost to rent an apartment in Ottawa in July was $2,130, up 6.7 per cent from July 2022. However, the cost to rent an apartment dropped from $2,134 in June.
The Rentals.ca report shows the cost to rent a one-bedroom apartment in Ottawa was $1,979 last month, down from $2,003 in June.
A bachelor apartment cost $1,555 to rent in July, while a two-bedroom apartment cost $2,417 and a three-bedroom apartment renting for an average of $2,463 a month.
Rentals.ca says the average asking rent in Canada was $2,078 in July, a record high for rents in the country.
Vancouver has the highest average rent in Canada at $3,350 a month, followed by Burnaby, B.C. at $3,002 and Toronto at $2,849 a month.
Ottawa has the third-highest average rent in Canada for large cities, behind Vancouver and Toronto. The average rent is $2,036 a month in Calgary and $1,987 a month in Montreal.
Rising rents in Kanata
The report from Rentals.ca shows the average asking rent for purpose-built and condominium rental apartments in Kanata was $2,632 in July.
Kanata ranked seventh out of 25 mid-sized markets for asking rent. North Vancouver's average asking rent is $3,556 a month, while Richmond is $3,119 a month.
Roommate rental
The cost to rent an apartment with a roommate continues to rise.
Rentals.ca says the average cost to rent with a roommate increased in Ottawa to $953 a month in July, up from $947 in June.
