In case you’re unaware, Victoria is in the midst of a full-blown rental crisis. Finding a place to live has become more difficult and expensive than ever.
Now, another round of stats have been released, confirming just how much rental prices have risen
In a new report released by PadMapper, Victoria ranked as the 5th most expensive rental market in Canada.
Although the city’s ranking actually decreased since last year, prices continue to grow. In fact, the jump from 3rd place to 5th has less to do with a cooling Victoria market and more to do with incredibly hot ones in Barrie and Montreal.
Prices of one and two bedroom units in Victoria have reached medians of $1,120 and $1,410, respectively.
The price of one bedroom units has gone up a staggering 12% in just one year.
Only Vancouver, Toronto, Barrie, and Montreal ranked ahead of Victoria in terms of overall price.
The dire situation has caused the mayor and city council to try all sorts of techniques. Most of those have proved controversial.
For help finding a rental, check out our handy guide: 8 things you need to know before renting in Victoria