Renters are feeling the pinch nationwide — these 5 charts break it down

Many Canadians are finding it harder to obtain housing that fits their budget as rents soar across the country.

Rising prices are being driven in part by higher interest rates, which are cooling off the house-buying market and in turn putting more strain on rentals.

Here are five charts that show some of the numbers behind the issue.

Rents going back up

After pandemic-driven declines in 2020 and 2021, Canadian rental rates are on the rise again. The median rent for all property listings on Rentals.ca for the second quarter of 2022 was $1,750, a seven per cent increase over the same period last year.

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