A new study has found Vancouver to be Canada’s most expensive city for renting Airbnbs.
The research, carried out by financial advice website Money.ca, calculated the cost of renting property on Airbnb in different cities. They used Airbnb’s earnings calculator to work out the average cost of renting out an entire one-bedroom, two-bedroom, and three-bedroom property in Canada’s 50 most populated cities.
TOP 11 MOST EXPENSIVE CITIES IN CANADA
| Ranking | Location | Average Airbnb cost per night (CAD) |
| 1. | Vancouver, British Columbia | $325 |
| 2. | Toronto, Ontario | $315 |
| 3. | Mississauga, Ontario | $305 |
| =4. | Kelowna, British Columbia | $286 |
| Lévis, Quebec | ||
| 6. | Quebec City, Quebec | $274 |
| 7. | Montreal, Quebec | $264 |
| 8. | Richmond, British Columbia | $258 |
| 9. | Laval, Quebec | $252 |
| 10. | Saanich, British Columbia | $249 |
| 11. | Kingston, Ontario | $234 |
Vancouver, British Columbia, Canada. JIM BYERS PHOTO
Vancouver, British Columbia, is the most expensice city to rent an Airbnb, with the average cost of one night’s stay at a property in the city coming in at $325. The city has the highest average cost for renting an entire one-bedroom and two-bedroom properties, at $233 and $315, respectively. However, the city has the second-highest cost per night for renting an entire three-bedroom property, at an average of $426 per night.
Toronto, Ontario, ranks second. The average cost of a single night’s stay in the city is $315. Toronto has the second-highest average costs for renting out one—and two-bedroom apartments, at $225 and $305, respectively. It costs $415 on average to rent out an entire three-bedroom apartment in Toronto, the fourth highest in Canada in this category.
Mississauga, Ontario, follows closely behind in third place with an average cost per night of $305. The average cost of renting out an entire one-bedroom property in Mississauga is $218, and an entire two-bedroom property can be listed on Airbnb for an average of $292. This is the third-highest average cost for both categories. An average three-bedroom property in the city would cost $405, the fifth-highest average cost in Canada.
Kelowna, British Columbia comes in fourth, costing an average of $286 per night. Kelowna has the most expensive three-bedroom properties on Airbnb, costing $492 per night on average, 90% higher than the average cost of a three-bedroom property in Canada. However, the city’s one-bedroom properties cost a lot less than other cities in the top ten, at $141 on average.
Lévis, Quebec ties Kelowna in fourth place, with the average Airbnb cost in the city also being $286. However, an average three-bedroom property in Lévis costs $422. The city’s one and two-bedroom properties are more expensive than Kelowna’s, at $180 for a one-bedroom in Lévis and $256 for a two-bedroom.
Quebec City, Quebec, rounds out the top five, with properties on Airbnb costing $274 on average per night in the city. Neighboring Montreal, Quebec, follows in sixth place, with an average night’s stay at an Airbnb in the city costing $264.
Richmond, British Columbia, is very close behind, with the cost of an Airbnb just $6 less than Montreal, at $258 per night. Ranking in eighth place is Laval. The city in Quebec has an average Airbnb cost per night of $252.
Saanich, British Columbia, ranks ninth, with an average Airbnb cost of $249 per night. An average night in an Airbnb in Kingston, Ontario, costs $234, making it the tenth most profitable city for Airbnb hosts.
Money.ca said Edmonton, Alberta has the lowest average Airbnb property costs per night at $118.
“Canada’s largest and most populous provinces, Ontario, Quebec, and British Columbia, are also home to the most expensive cities for renting an Airbnb,” said Kris Bruynson, VP, Marketing and Product at Money.ca. “While this is good news for residents in these cities looking to earn extra income by listing their properties on Airbnb, visitors seeking affordable accommodation in the city may face a more challenging search.”
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