Table 3
Monthly rent as a function of rental dwelling characteristics and location, Survey of household spending

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Monthly rent as a function of rental dwelling characteristics and location, Survey of household spending: Part 1
Independent variables Estimates
  coefficient p-value
Constant 6.34 0.000
Number of rooms (6 rooms excluded)  
1 room -0.60 0.000
2 rooms -0.39 0.000
3 rooms -0.27 0.000
4 rooms -0.15 0.000
5 rooms -0.04 0.065
7 rooms 0.12 0.002
8 rooms 0.17 0.001
9 rooms 0.004 0.960
10 rooms -0.004 0.965
11 or greater 0.11 0.402
Number of bathrooms (1 bathroom excluded)  
2 bathrooms 0.17 0.000
3 or more bathrooms 0.31 0.036
Dwelling type  
(apartment in a building of less than 5 stories excluded)  
Single detached 0.07 0.001
Semi-detached 0.04 0.188
Row or terrace 0.08 0.004
Duplex -0.01 0.503
Apartment in a building of five or more stories 0.18 0.000
Hotel, rooming or lodging house, camp 0.05 0.542
Mobile home 0.004 0.956
Other 0.06 0.016
Size of urban area (rural excluded)  
Urban centre 1,000,000 or more 0.36 0.000
Urban centre 500,000 to 999,999 0.22 0.000
Urban centre 250,000 to 499,999 0.21 0.000
Urban centre 100,000 to 249,000 0.18 0.000
Urban centre 30,000 to 99,999 0.13 0.000
Urban centre less than 30,000 0.12 0.000
Monthly rent as a function of rental dwelling characteristics and location, Survey of household spending: Part 2
  Diagnostic statistics
Number of observations 6,466
R-squared 0.43
Root mean squared error 0.316
Note(s):
The dependent variable is the natural log of monthly serviced rental payments. The model is estimated using data from the 2005 and 2006 Survey of household spending. In addition to the variables reported, the model also includes binary variables for the province of the dwelling and survey year. P-values are based on robust standard errors.
Source(s):
Survey of household spending, 2005 and 2006.