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2023 Canada rental market update


Paul Danison of shares a review of residential rental rates in 2022 and how things are shaping up for 2023 all across Canada.

Danison is a well-known figure in the multires sector thanks to his role as the content manager at The site, and its related sites offer listings from across the country, and the data discussed here is focused on rents for vacant units.

Danison notes CMHC data shows overall rents rose on average 2.6 per cent the past couple of years, but that data also includes annual increases for people who are staying in their units. He said people who are moving can face "sticker shock" depending on where they will be renting due to rapidly rising rental rates.

They'll discuss renting trends in most major Canadian centres, including both Toronto and Vancouver, as well as smaller markets such as Kitchener-Waterloo in Ontario, Halifax, across the Prairies and more.


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