A new report suggests Canadian renters are paying more than they ever have before.
Average asking rents hit a record high of $2,042 in June, according to Rentals.ca.
That was a 1.4 per cent increase from May, marking the fastest monthly increase this year.
With the increase, the annual rate of rent inflation rose to 7.5 per cent, up from 6.5 per cent in May.
Apartment units saw the biggest increase at 11.7 per cent. That was followed by condominiums at 5.4 per cent and houses and townhouses at 4.8 per cent.
Across Canada, average rents are around $1,780 for a one-bedroom unit, $2,100 for a two-bedroom, and $2,410 for a three-bedroom.
Vancouver is the most expensive city, with an average rent of just over $3,300. You will pay an average of $2,981 for a one-bedroom unit, $3,901 for a two-bedroom, and $4,311 for a three-bedroom.
Meanwhile, the Ontario communities of Scarborough and Brampton had the fastest rent growth in the country at 27.8 per cent and 25.8 per cent, respectively.
