Saskatchewan remains one of the country’s most attractive places for renters.
The word affordability gets kicked around a lot these days as inflation undermines everyone’s purchasing power but sometimes it is difficult to grasp the true impact of rising living costs without some comparisons.
StatsCan has just released that national comparison on the issue of property rental.
On that one, Saskatchewan’s major cities fared quite well. Regina ranked #8 in the country among major cities on the affordability charts. Saskatoon was twelfth. Regina posted an average rent of $1480 for a two-bedroom unit. In Saskatoon it was a bit over $1,600. Vancouver was the highest at $2,400. Toronto was also over $2,000 a month.
The report also showed landlords are losing some of their grip as the market, especially in major cities, is pushing rental rates lower.
This quarterly report compared what landlords were ‘asking’ for rent and what they’re actually getting. That gap is $150 a month in Saskatoon and $100 in Regina. The spread is between $500 and $600 in Toronto and Vancouver and more than $700 in Halifax.
