Guelph is ranked 13th most expensive for monthly rental prices in a list of 35 Canadian cities.
The average price of a one bedroom apartment in January was $1,979. This is a decrease of 4.7 per cent month over month.
As for the price of a two bedroom apartment in Guelph it saw a 2.4 per cent increase month over month. The average rent was $2,417 for a two bedroom apartment.
In nearby Kitchener it ranked 15th most expensive for rental prices in January. The average price of a one bedroom apartment in the city was $1,937 and a two bedroom apartment was $2,354.
The rental report was analyzed by Rentals.ca from rent trends across Canada and prepared by Urbanation, a property market consulting company.
“The Canadian rental market began 2024 where it left off in 2023, with rents surging to new highs,” said Shaun Hildebrand, president of Urbanation, in a press release. “However, an underlying narrative has emerged between softening rents in expensive markets and strengthening rents in more affordable markets. These shifts in demand are symptomatic of a worsening supply situation for rentals in Canada.”
The average asking rent in Canada for all property types increased by 10 per cent annually to $2,196.
