High home prices and limited options continue to push Canadians into the rental market; however, a new report shows that thanks to its affordable housing and diverse economy, Edmonton is a popular destination for renters.
RentCafe has released a report on the top-trending cities for renters in Canada, with scores weighted based on availability rate, page views, favourites, and saved searches.
With a score of 88.8, Edmonton ranked as Canada’s third trending city for renter interest. YEG topped the list when it came to “favourited apartments, reflecting renters’ strong confidence in their choices when searching for a place to call home.”
Edmonton was the largest Canadian city to crack the top 10.
“[Edmonton’s] population is growing rapidly, driven by both new immigrants arriving in Canada and people moving from other provinces,” RentCafe wrote.
“However, despite its size, Edmonton remains more affordable to other major Canadian cities. As such, apartments in Edmonton are attracting increased interest, not just from local renters, but also from residents in other major cities like Vancouver, Toronto, and Calgary.”
Winnipeg claimed the top spot among trending Canadian cities, followed by Saskatoon.
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RentCafe
Victoria came in fourth place, while Ottawa rounded up the top five.
Our neighbours down south in Calgary ranked 15th in the country with a score of 61.06.
Many renters gravitated toward mid-sized cities, RentCafe wrote, drawn by more affordable housing, a higher quality of life, and better job prospects.