Barrie now one of the most expensive cities to rent in Canada—study

Steady growth and increasing attractiveness to investors are likely contributing to the rise in the city’s rental costs

Barrie now one of the most expensive cities to rent in Canada—study
A steady trend of growth has made Barrie the fourth most expensive urban market for rental units nationwide, according to a freshly released June report by

The study, which looked at rent prices in Canada’s 25 largest cities, found that the average cost of a one-bedroom apartment in Barrie increased by 4.5 per cent over May 2017 figures, going up to $1,150.

Meanwhile, average rent for a two-bedroom apartment in the city went up by 1.4 per cent in the same time frame (up to $1,410), CTV News Barrie reported.

Vancouver continues its reign as the priciest rental market in Canada, with one-bedroom apartments going for an average of $1,950 and two-bedroom units for $3,150. Toronto and Victoria closely come at second and third.

Barrie has recently been deemed by the Real Estate Investment Network as a promising housing hub, chiefly because of its diversifying economy that is focusing on GDP, employment, and population growth.

Helping the city’s chances as a premier destination for strategic real estate investors in the future is its infrastructure, along with its business-friendly policies and proximity to downtown Toronto.

“Barrie has become a city with strong economic roots,” REIN senior analyst Don R. Campbell stated. “It has all of these fundamentals lined up in support of a bright future, which are ideal conditions for a stable and growing real estate market.”

Another factor that might magnetize investment funding is Barrie’s small-town feel despite its status as a major urban centre, “making it an ideal location for young families seeking relative affordability.”

Related stories:
Fiery Toronto real estate heats up surrounding markets
Ontario supply already reeling from the impact of new rent-control rules - FRPO