Victoria’s rental prices have increased by 2.5% compared to last month, and the city now finds itself as the 6th most expensive place in Canada to rent in, based on one bedroom units.
According to a report by padmapper.com, the median price in Victoria for a one bedroom unit is $1,230, while a 2 bedroom comes in at $1,510.
Despite the increase, month-to-month, single bedroom rental units are down 7.5% compared to a year ago, the only market in the top 10 to see a year-to-year decline.
Toronto tops the list, with Vancouver, Burnaby, Montreal, and Barrie rounding out the top 5. Other than Montreal and Calgary, the top 15 most expensive places to rent are all in British Columbia or Ontario.