Average rents across Canada fell for the 24th consecutive month, marking two full years of rent declines and one of the longest downturns for the Canadian rental market in recent history, a report by Rentals.ca and Urbanation said.
The average asking rent for all residential properties in Canada was $2,034 in September, down 4.2 per cent compared to the month in 2025. This marked the lowest level of average asking rents for September since 2022.
Average asking rents in Canada reached a record high of $2,202 in May 2024. After hitting $2,142 in September 2024, rents have steadily declined across the country.
Get daily National news
Last month, rents were 7.3 per cent below September 2024 levels and 9.2 per cent below the peak of May 2024.
“Two straight years of falling rents is the longest downturn the Canadian rental market has seen in recent history,” said Shaun Hildebrand, president of Urbanation.
The key driver of falling rents is over-supply in key rental markets like Toronto and Vancouver, he added.
“Rents in both cities have trended higher over the past six months, and annual declines have narrowed significantly as renters come off the sidelines. Where Toronto and Vancouver go, the rest of the country follows,” Hildebrand said.
Condos saw the sharpest decline in rents, with rents falling to $2,052 for all condo types, a drop of 7.8 per cent compared to September 2025. Studio condos saw an even sharper decline, with a 9.6 per cent drop.
Other secondary housing units, such as houses and townhomes, saw rents fall by 7.4 per cent to $2,016.
Purpose-built rents remained the most resilient of all property types, down 2.7 per cent to $2,036.
Lies once again because it was only last summer that it was reported in the media that rents were sky high because of immigration and high demand and same with people buying up homes that drove home prices skyward to. Well duh: “Rent is high in Canada because population growth and demand have outpaced the construction of new housing, creating record-low vacancy rates and intense competition.” And Bank of Canada 6 days ago: “6 days ago — Renting has become significantly more expensive in Canada in recent years.
The temperature is rising far too high and it has nothing to do with Quebecers, Albertans, or climate change. It is the due to the friction and heat generated by weak leadership across the board.
In complete contradiction with psycho Liberal claims that suggest math and analysis are racist or bigoted because, no less, they are bigots to everyone they do not identify as.
I support peaceful revolution and pray violence does not spell the end of Liberal reign.
@on sidelines and ben, do you reetarded POS sck each other after azz fcking each other?
None of my rents have gone down All my costs are higher so I pass that on to my renters. City taxes go up yearly. At least the consumer carbon tax put in by the Liberals is now at zero.
I should tell my landlord that the rent should be going down, not up above guidelines… again…
@Bennifer aka Anonymous. You conveniently left out the part where the provinces, eg Alberta/PQ begged for more immigration at one point. Still not telling the truth and still obsessing over Ben.
@Anonymous 1122 am. Usual ad hominem attack which obsesses about liberals. See someone about your obsession with Ben.
Ben you’re very dim. When the Liberals moderated immigration, and denied a lot of student visas the effect on rentals became apparent. In doing so, we’ve also seen decline in real estate prices. Liberal policy created the shortages, now Liberal policies are hollowing out wealth of property owners. The building program will only make the hollowing worse. Carney knows this and has decided what Canada needs is more immigration to maintain the ponzi scheme. But, there’s still the matter of dramatically oversubscribed services like education and healthcare that he downloads on the provinces. Wonder why the new Quebec premiere is “non, no more of your immigrants Feds.”? Oct 18, AB will vote very firmly to allow the province to exert similar controls on immigration. Liberal policies failing, as usual.
Ben be gentle with Anonymous. He’s a little slow and cannot keep up with you.
Doesn’t go down in RV and mobile home parks , goes up every year and then some , at least $ 1000.00 a month is the going rate now .So much for afforable living
Insufferable Ben – people are not denying the data – they are blaming Liberals for the spike in rents, housing and the collapse of infrastructure for lying to Canadians about the impact of their immigration policies.
More importantly, we rest confidently that we are right, and have been all along, including the fact that we are not racist for being capable of math and basic analysis.
Rentals.ca, etc. have also stated rents have declined, so the data is probably correct. While individuals may not see rent declines, average prices of rentals have declined. Analysts have suggested this is partially due to an increase in supply. The Carney government has not meaningfully contributed to increased housing supply as of yet.
A simple drive and online search will refute what the article says about rents falling. Everywhere rents are advertised in the mid to high $2,000’s.
@Ben Our economy as on it’s sickbed when Trudeau was PM and now it is on its death bed under Carney. Where are the 500,000 homes Carney said he would build faster than ever before. Increased immigration has add hundreds of thousands to our population putting stress on rentals, healthcare and education as well as taking jobs from our youth. You are delusional if you think Carney is doing anything other than destroying Canada.
Don’t worry, Carney will sabotage it by flooding us with more immigrants despite doing absolutely nothing to increase infrastructure to support the masses.
@Ben where are all the homes he has promised and where exactly have these rents gone down because in the Okanagan they haven’t decreased at all. The best you will get is a break on the first months rent
Selective data reports are not accurate data reports… show the country wide report and you will see a steady increase for 24 consecutive months…
Nice try though!
Also ben, you gotta be the worst rage baiter ive seen..
Wonder if the right will credit Carney for this? They wrongly blame him for inflation which was caused by the Ukraine and Iran wars. Let’s see if they are internally consistent. Note that the Carney government has very limited impact on rents, despite the government slightly increasing rental and housing stock.
Don’t know were they are getting these rents from but drive through Kelowna and rents are being advertised in the high $2,000.
That simply isn’t true, my rent has increased twice over that time period. I would move, but rent is still high and rising around here.