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Photo ©Carolyn B. Heller

Renting in Canada

In most Canadian cities, web­sites like Craigslist, Kijiji, or PadMapper are the best sources of rental listings.

Finding a place to rent in Canada can take some time. Nationwide, Canada had a rental vacancy rate in 2012 of only 2.3 per­cent. As long as vacancy rates remain low, you should allow a longer period to find a rental unit than you might expect.

While rental prices vary sig­nif­i­cantly by city – and by neigh­bor­hood within a city – the fol­low­ing aver­ages may help with your bud­get­ing. Nationwide, the aver­age rent for a two-​​bedroom apart­ment in mid-​​2012 was $887.

In 2012, the most expen­sive cities for renters in Canada were Vancouver, Toronto, Calgary, Ottawa, Victoria, and Edmonton. The fol­low­ing table shows the aver­age monthly rent for a two-​​bedroom apart­ment in each of these communities:

  • Vancouver $1,210
  • Toronto $1,164
  • Calgary $1,113
  • Ottawa $1,104
  • Victoria $1,046
  • Edmonton $1,036

Source: Canada Mortgage and Housing Corporation

Buying a Home in Canada

The Multiple Listing Service (MLS) lists homes for sale in most Canadian cities. Listings are online at Realtor​.ca.

While home prices vary sig­nif­i­cantly by city and by neigh­bor­hood within a city, here are some aver­ages as of late 2012 for single-​​family detached homes in Canada’s largest met­ro­pol­i­tan areas:

In the most expen­sive cities, con­do­minium apart­ments may be a more afford­able option. Expect to pay an aver­age of $368,800 in Vancouver, $334,204 in Toronto, and $289,819 in Calgary. Condo prices are aver­ag­ing $236,781 in Edmonton, $267,037 in Ottawa, and $225,000 in Montreal.

All prices are shown in Canadian dollars.

More Housing Resources

The Canada Mortgage and Housing Corporation (CMHC) pub­lishes a use­ful online guide to both rent­ing and buy­ing a home in Canada: Housing for Newcomers to Canada.

The CMHC also has help­ful resources for Renting a Home in Canada and Buying a Home in Canada.

Toronto Real Estate Photo ©Carolyn B. Heller