What $1,000 a Month in Rent Gets You

What $1,000 a Month in Rent Gets You - Robert Burton`s Analysis When considering a new job or a place to move to find one, you have to consider rent and probably can`t afford to pay more than $1,000 in rent. All across Canada, there is a huge variation in the rental market. Cities like Toronto and Vancouver tend to cost the most due to their hot market and increasing in the number of young professionals. It’s a dilemma because if you choose a smaller city there may not be as many employment opportunities.

To help in choosing a destination to for your new job and home, a quick scan of the country’s rental market using Canada’s classifieds site Kijiji.ca find some variation shared by Robert Burton as follows: Toronto Finding anything less than $1,000 is extremely challenging. But the advantage is you`re extremely accessible to downtown. The normal rent of single bedroom in the downtown core it closer to $1,800. For a bachelor or a studio apartment, $1,300 and $1,500. But, you might get something below the market rate if you do some hard and quick leg work.

Calgary

Some places under $1,000 if you`re planning to live outside the downtown core and drive.

Whereas if you choose to live in the heart of the city, you can find an affordable single bedroom for around $1,200. Calgary’s rental economy has eased a bit since Alberta’s oil recession hit back in mid-2014. Rents have gone down. You might get a comfortable bright, modern single bedroom for about $900 per month.

Edmonton Within $1,000 budget, there are plenty of options to choose in the West part of the city. Being motivated by the fact that vacancy rates (the number of unoccupied dwellings in a city) are above average 7% (vs national average 4%). For the sake of comparisons, Toronto’s vacancy rate is hovering at 1%. At around $1,000, you can rent a spacious one bedroom in downtown Edmonton.

Montreal You have some choice in Montreal within a budget of $1,000. You’ll actually find a one bedroom apartment on a budget of $700. The best thing about the city is that it has a many vibrant neighborhoods and it’s well connected to public transit so you can get a charming space within 20 minutes of the downtown core at a reasonable price.

Vancouver As Per Robert Burton, for a $1,000 budget, the downtown core of Vancouver is tough.

Vancouver is in a rental crisis. Vancouver’s vacancy rate is 0.7 percent. With some hard and fat work you may find one bedroom bachelor and studio apartments near downtown. If you’re willing to live outside of Vancouver a little, like in Coquitlam, you will find something bigger.

Winnipeg Winnipeg’s rental market is very similar to Edmonton - there are bedroom apartments for under $1,000. Rents on two bedroom apartments in Winnipeg have gone up mildly in the last two years. And as compared to other cities, living in the downtown area of Winnipeg is more expensive.

St. John’s One can find a nice small home close to $1000 - $1200 close to downtown St. John’s and find a one bedroom apartment downtown for approximately $700.