Victoria has the fourth most expensive rental market, according to PadMapper’s November 2020 rent report. (THE CANADIAN PRESS/Nathan Denette)

Victoria has the fourth most expensive rental market, according to PadMapper’s November 2020 rent report. (THE CANADIAN PRESS/Nathan Denette)

Cost to rent a Victoria two bedroom up 15 per cent from 2019

PadMapper’s latest rent report shows Victoria prices continue to soar

Despite a year of economic blows, the cost of rent in Victoria has continued to soar.

Compared to 2019, the price of a one-bedroom apartment has jumped 8.6 per cent and the price of a two-bedroom has leapt 15.1 per cent, according to PadMapper’s rent report.

The average price of a one bedroom is now $1,650 and a two bedroom sits at $1,910. This places Victoria as the fourth most expensive rental market in Canada, with Toronto in first, Vancouver is second and Burnaby in third.

Month over month, Victoria’s November one-bedroom rentals didn’t change in price, while two bedrooms dropped by 3.5 per cent.

The most affordable rentals in Canada in November were in St John’s, Newfoundland, and Regina and Saskatoon, Saskatchewan.

READ ALSO: Victoria’s median asking rent for one-bedroom hits $1,600

READ ALSO: Coming months will reveal fate of Greater Victoria’s rental market

READ ALSO: Greater Victoria has Canada’s sixth-highest ‘moving penalty’


 

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