Avg. Rent Prices Across Canada

[Jeff Gilbert]

Found this great info graphic on rentseeker.ca and thought the BP community would find it interesting much like I did.

http://www.rentseeker.ca/blog/index.php/rentseeker-ca-publishes-new-report-showing-housing-prices-across-canada-with-year-over-year-data/2394

It will show you the avg rents for cities across Canada for bachelor apartments, 1 bedrooms, 2 bedrooms and 3 bedrooms as of spring 2015.

Enjoy!

[Jeff Gilbert]

Sorry everyone, wrong link. That link is also very interesting tho. It's another info graphic showing the avg cost of a home in cities across Canada and the salary needed to buy, check it out.

As for the link I mentioned above, this link will work much better.

http://www.rentseeker.ca/blog/wp-content/uploads/2015/07/Average-Rent-Prices-of-Apartment-Rentals-across-Canada-RentSeeker.ca_.jpg

[Jesse Shields]

I'd seen the salary/home price one before but the rent one is an interesting quick reference point. Thanks for sharing that @Jeff Gilbert!

It would be interesting to have a similar graphic with the average price of each of those units (but I'm sure that information is available).

[Roy N.]

@Jeff Gilbert

A far more useful (IMHO) source of similar (if not the same) data is the CMHC Housing Market Portal (rental data by market (and submarket/neighbourhood) can be found there.

[Samuel Sedore]

An even better place to compare rates is pad mapper the website. It compares all local rent sites and puts them together to compare rates. I find CMHC and stats can way to broad and they can lag a couple months behind, I use what people are actually paying within the last couple months to determine my rates for maximum rental rates.

The best part is its broken down with points on the map so you can check specific areas and neighborhoods down to the street.

[Roy N.]

Originally posted by @Samuel Sedore:

An even better place to compare rates is pad mapper the website. It compares all local rent sites and puts them together to compare rates. I find CMHC and stats can way to broad and they can lag a couple months behind, I use what people are actually paying within the last couple months to determine my rates for maximum rental rates.

The best part is its broken down with points on the map so you can check specific areas and neighborhoods down to the street.

Samuel,

That must be a regional thing as sites like PadMapper, Rent Donkey, etc tend not to be any more useful here (Maritimes) than what you can scrape from Kijiji yourself.  While CMHC data is delayed (only published once (October) or twice (April & October) per year depending upon the market), it does provide the ability to drill down based upon sub-markets or even neighbourhoods.   We've been scraping data from Kijiji for five years and consuming the CMHC data over a similar period and in our market they track fairly well.

[Samuel Sedore]

Originally posted by @Roy N.:

Originally posted by @Samuel Sedore:

An even better place to compare rates is pad mapper the website. It compares all local rent sites and puts them together to compare rates. I find CMHC and stats can way to broad and they can lag a couple months behind, I use what people are actually paying within the last couple months to determine my rates for maximum rental rates.

The best part is its broken down with points on the map so you can check specific areas and neighborhoods down to the street.

Samuel,

That must be a regional thing as sites like PadMapper, Rent Donkey, etc tend not to be any more useful here (Maritimes) than what you can scrape from Kijiji yourself.  While CMHC data is delayed (only published once (October) or twice (April & October) per year depending upon the market), it does provide the ability to drill down based upon sub-markets or even neighbourhoods.   We've been scraping data from Kijiji for five years and consuming the CMHC data over a similar period and in our market they track fairly well.

 Good to keep in Mind! The reason I don't use CMHC ever is because in my region there are a lot of "slummy" apartments and building in bad area. I know I can get 900-1000 for a 2 bedroom in decent shape but CMHC suggest around 840. But I live in the middle of census metropolitan area, the data mining is to broad in my opinion. What would you say your Kijiji and CMHC data differ by? In my market its a little over 100$, especially with 1 bedrooms because of all the cheap low quality units killing averages.

[Roy N.]

@Samuel Sedore

Obviously the CMHC data provides you with medians and averages for the areas and there will be properties both above and below the curve.  When we compile our data scraped from Kijiji, we find the deviance of the medians and average to be within 4 - 8% ... much of that noise is likely due to our sample region being a little tighter and more selective than theirs.

I particularly like to use CMHCs historical data when analyzing (aka debunking) pro forma and memoranda of offering we receive.

Even where we can command rent 10% or 15% over market, we make certain we can operated profitable at 5 - 10% below market.

[Jeff Gilbert]

Thanks for the additional resource. I was aware of and frequently use CMHC but have not heard of or used PadMapper. Will definitely check it out.

[Lee Jackson]

Good to know guys!!   Thanks for the info!