Hamilton now has the fastest-rising rent in all of Canada
- Michael Kras
- 18 Nov 2019
If you’re looking to rent an apartment in Hamilton soon, you’d better jump on it right away; the Hammer is currently seeing the fastest-rising rental rates in all of Canada.
According to the latest national rent report issued by Rentals.ca, Hamilton’s rental rates for apartments and condos have increased by almost a quarter of its total within a single year alone, rising by 24.4% and climbing still. This comes ahead of Scarborough, which sits a mere 0.4% behind.
https://twitter.com/RedbrickLiving/status/1196490821240934400
The report states that the average monthly rental cost for a Hamilton apartment in 2019 is $1,545, though that statistic doesn’t really specify what, if any, amenities are a factor in those apartments’ rental rates.
While the rise of rent is happening in Hamilton at an alarming rate, the city’s state is a far cry from the exorbitant rental costs in cities like Toronto, where a modest one-bedroom apartment set at around $2,300 per month or more is far from uncommon.
Still, as Hamilton rapidly moves forward and urban developers continue to set their eyes on our city’s growth, the climbing cost of living in this city is sadly unlikely to stall or decline any time soon. Here’s hoping that growth doesn’t leave behind attention to affordable local rent and housing initiatives.
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