Maybe it is a Canada thing. I looked at some colos in the Toronto area a few back and found rental prices were about the same as bringing your own hardware. Didn't make sense. I was just looking for a home for some server hardware I have in my garage. Oh well.
Almost all the independant colo centers in Montreal have been bought out by big players with the corporate world in sight, not the small 1-2 servers market. So the prices skyrocketed.
The opposite is true for dedicated, since they have to compete with us-based players, and OVH got in the East Coast market big time. Prices are lowering.