The March report for rent across Canada just released. Rentals.ca’s national rent rankings shares the top 35 Canadian cities with the highest average asking prices for 1- and 2-bedroom homes.
Out of the 35 cities, Ontario cities appear 19 times, the most out of any province.
London currently places 20th in the average rent price for a 1- bedroom home in Canada, London’s also the 12th highest in Ontario and 6th highest Ontario city outside of the GTA.
Currently, London’s average asking price for a 1- bedroom home sits at $1 829 and a 2- bedroom is $2 208. While the average is down by 1 percent compared to January. The average asking price in the forest city rose by 3 percent compared to February 2023.
The 3 percent increase in comparison to 2023 is the 7th highest jump out of Ontario cities and outpaces areas like Toronto, Etobicoke, Hamilton, Guelph, Oakville, Kitchener, Niagara Falls and Windsor.
With a decent portion of Fanshawe’s student population renting off-campus in areas like Thurman, Flemming, Farnsborough and the Foundry apartments. Some students shared their displeasure with London’s increasing rent, meanwhile similar markets like Hamilton, Kitchener and Windsor all decreasing in year over year.
Commercial flight and aviation student Ben Younker said:
“Why are bigger cities having decreased prices but London, with a smaller population has landlords increasing the prices and making it harder for us just to live where we grew up. I just think it’s kind of ridiculous how some places closer to Toronto are getting cheaper while we still have to pay unreasonable prices.”
While, London doesn’t have as drastic of an increase, as some places like Brampton who’s increased 15.5 percent compared to 2023 but, the 3.1 percent increase makes it interesting to see how London’s housing market will be affected for students with the international cap coming this September.
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