Asking rents in Canada fall more than 4% from last year, according to report

Asking rents in Canada fall more than 4% from last year, according to report

British Columbia and Ontario saw biggest year-over-year drops, while rents in Atlantic Canada rose

Asking rents in Canada continued to sink lower last month compared with a year ago, with a new report pegging the average cost at $2,033 for June.

The latest monthly analysis from Rentals.ca and Urbanation says that's down 4.3 per cent from June 2025, marking the 21st consecutive month of year-over-year declines. Its also the lowest asking price for the month of June specifically in four years.

The pace of decline was slower than in past months, however — average asking rents declined by 5.3 per cent in March and 4.7 per cent in April and May.

Prices ticked up 0.2 per cent on a month-over-month basis from May.

Asking rents for purpose-built apartments fell 3.1 per cent year-over-year to an average of $2,034 last month, while asking rents for condominium apartments decreased 6.8 per cent to $2,058.

At the provincial level, British Columbia and Ontario each posted the largest year-over-year drops in the average rental price at 5.3 per cent each, bringing average asking rents to $2,377 and $2,233, respectively, in those provinces.

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Atlantic Canada saw the biggest jump in average asking prices, rising 5.3 per cent to $2,271 across the region.

Nova Scotia, was the most expensive province for apartment and condo rentals, specifically, with an average price at $2,360. The report says that's due to a higher concentration of listings in new buildings, plus a bigger proportion of large sized units in Nova Scotia.

Nationally, two and three bedroom units also dropped the least in price — down 2.8 per cent and 2.9 per cent, respectively.