Explore the Impacts of Canadian Inflation on Rent Prices
When we talk about inflation, most data points refer to the broad CPI index, which includes a variety of consumer costs such as food, energy, transportation, etc. But one specific stat tracked by Statistics Canada is “Rent Accommodation”, which has its own rate of inflation separate from other categories. We’ve built that data into our Canada Rent Inflation Calculator. To use it, simply put in a value representing what rent might cost today, and select a historical year to compare it to. Below the calculator we have included average rental rates for Canadian provinces.
A Few Notes on Our Canada Rent Inflation Calculator
- Comparing rent values is not always apples to oranges. Rental units often have some additional costs included, such as hydro.
- Our data is sourced from Statistics Canada’s Consumer Price Index, specifically the category of “Rented Accommodation”.
- The calculator was last updated February 10, 2024 using the latest available data from Statistics Canada.
Average Rental Rates in Canadian Cities
If you’re looking for a starting point to compare against using our Canada Rent Inflation Calculator, we’ve compiled some average rental rates in Canadian cities using data from Rentals.ca.
| Province | Average | 1 BR | 2 BR | 3 BR |
| Alberta | $1,691 | $1,503 | $1,864 | $2,043 |
| BC | $2,500 | $2,217 | $2,769 | $3,261 |
| Manitoba | $1,541 | $1.331 | $1,690 | $1,898 |
| Nova Scotia | $2,129 | $1,845 | $2,302 | $2,897 |
| Ontario | $2,446 | $2,238 | $2,694 | $3,070 |
| Quebec | $1,953 | $1,679 | $2,130 | $2,437 |
| Saskatchewan | $1,254 | $1,146 | $1,369 | $1,548 |
| All of Canada | $2,116 | $1,932 | $2,301 | $2,579 |
The Financial Impacts of Canadian Inflation
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