If you’re relocating to Canada and trying to work out your housing budget, you’ll want to know the cost of an average apartment rental.

According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), currently Canada’s most expensive rental market is Vancouver, where an average two-bedroom apartment rents for $1,154 per month.

Other major cities ranking in the top five, pricewise, are Calgary ($1,106), Toronto ($1,093), Edmonton ($1,059), and Victoria ($1,043).

Of course, it’s easy to spend much more than these averages if you’re looking at high-end properties, but you can use these figures as a rough guide.

Rents are much lower in Ottawa, where you can rent a two-bedroom unit for an average monthly rate of $690. Montreal and Quebec City are also comparative bargains at $656 and $664 per month, respectively.

You can download the complete report, with averages in markets across Canada, from the CMHC.

Photo ©Carolyn B. Heller