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Rent prices continue to climb

After significant spikes over the past few years, rental prices are expected see more moderate increases in 2020.

Average monthly rents for homes are estimated to increase in Canada by three per cent in 2020, according to Rentals.ca

Oshawa finished 18th out of 34 compared cities in the rental website’s latest survey, with an average one bedroom home at $1,319, and an average for two-bedroom home of $1,656.

At the end of the third quarter, the Canada Mortgage & Housing Corporation reported almost 72,000 rental units under construction in Canada, the highest rate in more than 30 years.

The average rent for Canadian properties in November 2019 was $1,918 per month, a decrease of 1.1 per cent monthly, but an increase of 9.4 per cent annually, according to Rentals.ca listings data.

According to another survey by Padmapper, the average rent for an Oshawa one bedroom apartment in In November was $1,280, a 1.5 per cent drop from the previous month, but still 6.7 per cent higher than 2018.
The average rent for a two bedroom in the city was $1,480, up 2.8 per cent from October and 6.5 per cent from the same time in 2018.

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