Cost of renting in Ontario rose more than almost every other province in July

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The latest National Rent Report shows the cost of renting in Ontario rose more than almost every other province across the country last month.

The report, released last week by Rentals.ca and Bullpen research and Consulting, shows rents in Ontario experienced a 3.1 per cent monthly increase in July and a 15.2 per cent increase annually.

The new national analysis of online listings has found the province ranks second when it comes to the highest average rent prices in July for all types of housing.

The only province that surpassed Ontario was British Columbia, with a 19 per cent year-over-year increase.