Guelph is ranked 12th most expensive for monthly rental prices in a list of 35 Canadian cities for one-bedroom apartments.
In July the average cost of a one-bedroom apartment in Guelph was $2,023. This is up two per cent year over year. The average cost for a two-bedroom was $2,396 up 5.9 per cent year over year.
In nearby Cambridge the city ranked 13th most expensive for one-bedroom apartment rentals. The average rent for a one-bedroom apartment in July was $1,989 and for a two-bedroom was $2,419.
The July rental report was analyzed by Rentals.ca from rent trends across Canada. The report was put together by Urbanation, a consulting company with research on property markets.
“Canada’s rental market is currently facing a perfect storm of factors driving rents to new highs,” said Shaun Hildebrand, president of Urbanation. “These include the peak season for lease activity, an open border policy for new residents, quickly rising incomes, and the worst ever home ownership affordability conditions.”
