Average monthly rents have surpassed $2,000 in Canada with no signs of slowing according to latest National Rent Report from Rentals.ca and Urbanation.

The average monthly rent in the Greater Toronto Area (GTA) has increased 16.5 per cent since May 2021, according to the latest Rent Report.

Average rent continues to rise for residential dwellings in the GTA, and leasing agents have even begun to report bidding wars for prime rental suites.