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Woodstock Rentals Look Like a Bargain Compared to GTA Prices

Tuesday, 15 March 2022 13:28

The average price of a rental in the Friendly City for a one-bedroom home was $1,439, and average monthly rent for a two-bedroom was $1,725.

The City of Woodstock remains a bargain for renters, when compared to GTA prices.

The average rent for all Canadian properties according to Rentals.ca in February was $1,820 per month, an increase of 6.2 per cent annually. 

Ontario had the second highest monthly average rental rates of all the Provinces at $2,118 per month, which is a 10.4 percent year over year increase. Woodstock was not listed in the top 35 most expensive places to live. The average price of a rental in the Friendly City for a one-bedroom home was $1,439, and average monthly rent for a two-bedroom was $1,725.

Compare those numbers to Toronto, where the average one bedroom rental is $2,044 and the average for a two-bedroom rental is $2,778. 

President of Bullpen Research and Consulting Ben Myers says the rental market in Canada has been trending upwards for awhile now.

"The rental market overall in Canada continues to trend upward in the post-vaccine pandemic period, with continued strength in the market for larger suites. Growth in average rents for one-bedroom units lags other bedroom types, with two-, three- and four-bedroom units exceeding February 2020 pre-COVID-19 rent levels last month. British Columbia, specifically Vancouver, and downtown Toronto are leading the market recovery, pushing rents up nationally." 

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