Asking rents in Canada continued their downward trend last month compared to a year ago, with a recent report indicating an average cost of $2,033 for June. This represents a 4.3% decrease from June 2025, marking the 21st consecutive month of year-over-year declines. The data is based on asking rents from Rentals.ca and Urbanation listings.
The average asking price for June is the lowest in four years. While the pace of decline has slowed down, with average asking rents decreasing by 5.3% in March and 4.7% in both April and May, there was a slight 0.2% increase in prices from May on a month-over-month basis.
Purpose-built apartment asking rents dropped by 3.1% year-over-year to an average of $2,034, while condominium apartment rents decreased by 6.8% to $2,058. Secondary market units like houses and townhouses experienced the most significant annual decline, down by 7.4% to $2,017.
On a provincial level, British Columbia and Ontario saw the largest year-over-year drops in average rental prices at 5.3% each, bringing average asking rents to $2,377 and $2,233, respectively. In Alberta, average asking rents fell by 4.2% to $1,766, and Quebec experienced a 2.2% drop to $1,929.
Atlantic Canada observed the most substantial increase in average asking prices, rising by 5.3% to $2,271 across the region. Nova Scotia stood out as the most expensive province for apartment and condo rentals, with an average price of $2,360. This is attributed to a higher concentration of listings in new buildings and a larger proportion of large-sized units in Nova Scotia.
Nationally, two and three-bedroom units experienced the smallest price drops, declining by 2.8% and 2.9%, respectively.
