August 28, 2020 by Don Mitchell
Rental prices in Hamilton, Ontario are going up amid the COVID-19 pandemic. Recent data from rentals.ca says the average cost of a dwelling in Hamilton continued to rise year over year, with a single bedroom unit hitting $1,489 per month in July while the average two-bedroom cost $2,170.
The trend is almost similar to the recent numbers seen in Southern Ontario’s real estate market in which prices continued to surge despite the pandemic, particularly in the Hamilton-Niagara region.
“Month to month (rents) have been fluctuating a little bit, but year over year rents in Hamilton have gone sky-high,” said content director Paul Danison.
Rental market is experiencing the same trend as tenants look for more space outside of the more expensive big cities like Toronto, Danison said.
What does this mean?
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