A recent report by Rentals.ca showed 'roommate rents' dropped to $1,481 per person in Vancouver and decreased in Toronto to $1,230, but it has risen in smaller cities.
showed that though the roommate rental cost has dropped in some of the biggest cities, it’s on the rise in smaller communities.showed “roommate rents,” the cost for shared accommodation, dropped from a high of $1,773 a year ago to $1,481 per person in Vancouver and decreased in Toronto from an average $1,300 monthly to $1,230.
“There’s very few places left that still have any kind of affordability if you are working for minimum wage or trying to have an apartment while in school,” he said.
Ladas told Global News the report shows trying to cut costs by having a roommate really comes down to where you want to live.“It really depends on if you have to live in these metropolitan cores,” he said. “I do think if demand really does increase and we don’t meet the supply, who knows where it could go,” he said.There may be some good news, though, as average rent across Canada rose at the slowest rate seen in three years, a rise of about 3.3 per cent compared to 9.6 per cent last September.According to Ladas, there’s a variety of reasons noting apartment completions have reached their highest total in decades, resulting in a slight increase in supply.
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