Victoria ranks third on list of Canada’s most expensive rental markets

Victoria may not be among Canada’s largest cities but it is one of the most expensive if you’re looking to rent a place to live.

According to PadMapper, the median price for a 1-bedroom unit in Victoria in February is $1330.

That places the city third behind Vancouver ($1900) and Toronto ($1620) and ahead of Montreal ($1180) and Ottawa ($1080).

The median cost of 2-bedroom unit in Victoria in January was $1470, again behind Vancouver ($3130) and Toronto ($2060).

Despite a recent rental unit construction boom in the city, Victoria’s vacancy rate was estimated at just 0.5% in October.

The PadMapper Canadian Rent Report analyzes rental data from hundreds of thousands of active listings across the country.

 Report Source: CHECK – http://www.cheknews.ca/victoria-ranks-third-list-canadas-expensive-rental-markets-277865/