Report shows average rent in Halifax up 18 percent since last year

Rent continues to rise in Halifax as the city saw average rent increase by 18 percent since last year.

That according to data from Rentals.ca which shows the average rent in the city increased to $2,373.

Data shows the average bachelor is $1,797, the average one bedroom is $2,050, the average two bedroom is $2,680 and the average rent for a three bedroom is $3,170.

This is higher average rent than in Ottawa, Calgary and Montreal.

Halifax Regional Municipality currently ranks sixth nationwide in highest average rent, with Vancouver taking the top spot, followed by Toronto.

According to the website, asking rents for all residential property types in Canada increased 5.9 per cent from a year ago to an average of $2,201 in July which represents the slowest annual rate of growth over the previous 31 months.