Kitchener apartment prices on the rise

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According to a new report from PadMapper, rental prices in Kitchener are climbing faster than they are anywhere else in the country.

PadMapper, an online apartment search tool, analyzes data on a monthly basis from rental listings. The aim of this report is to give users an idea of the economic rental landscape in Canada.

File Photo by Heather Davidson

Kitchener was ranked number 11 of 25 cities in PadMapper’s May Rent Report. According to the report, the median price of a one-bedroom unit is $970, which represents an increase of 15.5 per cent over May 2016. The price of a two-bedroom unit stands at $1,220, representing a 15.1 per cent increase over May 2016.

First place on the report was Vancouver, as the median price of a one-bedroom unit is $1,940. The median price of a one-bedroom unit in Toronto is $1,750, which ranked second place on the report.

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