Rental prices in Brampton are on the move again, with one-bedroom units seeing a sharp month-over-month increase of more than 4% in May, according to the latest National Rent Report. The spike adds $81 to the average monthly cost of a one-bedroom apartment, now sitting at $2,009, pushing Brampton further up the ranking of Canada’s most expensive rental cities.
Brampton moved up to the 23rd spot nationwide in May—up from 25th in April and 26th in March—demonstrating a steady upward trend in affordability challenges for renters. Guelph edged just ahead at No. 22, while Ottawa followed closely behind at 24th.
While one-bedroom rents surged, two-bedroom units told a different story. Prices remained unchanged from April at $2,263, but are down more than 6% compared to the same month last year, indicating some year-over-year relief in that category.
The report also found that nationally, average asking rents for all unit types have now declined year-over-year for eight consecutive months. However, over the last five years, asking rents across Canada have grown by an average of 4.1% annually—outpacing wage growth, which has averaged only around 3% per year. The data paints a clear picture: rental affordability continues to erode, especially in the wake of the COVID-19 pandemic.
Three-bedroom purpose-built rentals remain under pressure as well, with rents increasing 3.9% year-over-year to an average of $2,743. In the condo apartment market, three-bedroom rents held relatively steady, falling just 0.8% annually. Studio units, however, experienced the steepest decline, dropping more than 5% to an average of $1,762.
Despite some softening in select rental categories, Ontario remains home to nine of the 25 most affordable rental markets in the country, highlighting the stark divide between high-demand urban areas and lower-cost regions.
For Brampton residents, the current trend suggests ongoing pressure in the rental market, particularly for smaller units, as housing affordability continues to be a pressing concern.