Data from Rentals.ca and research firm Urbanation released this week shows July's average asking rent hit $2,078, just shy of nine per cent above the same month last year.
"We're also hearing stories of people coming from all across Canada, some who sold their property to move to eastern Ontario , hoping to find a place to retire that was affordable," Kwan said. “These include the peak season for lease activity, an open border policy for new residents, quickly rising incomes, and the worst ever home ownership affordability conditions.”
The thought of owning a place feels very out of reach for Keegan Colwell, a University of Calgary student and member of Acorn, a national organization made up of low- and moderate-income Canadians who are demanding housing policy reforms like more rent control.