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Average asking rents in Canada fell year-over-year every month of 2025: report
Record-high apartment completions and slower population growth drove a 3.1% rent decline in 2025, with rents still 14.1% above pre-pandemic levels, Urbanation reported.
- Across 2025, the national asking-rent average fell 3.1 per cent, with December rents dropping 2.3 per cent year-over-year to $2,060, the lowest in 30 months.
- Supply increases and softer demand drove rents down last year due to record-high apartment completions and population growth slowing, with Shaun Hildebrand saying `After a sharp run-up coming out of COVID, rents in Canada have been on a downward trend for more than a year`.
- Regional variation appeared as measured by province, with declines of 5.4 in British Columbia, 3.2 in Ontario, 2.7 in Alberta, and 1.9 in Quebec, while Edmonton grew 0.8.
- Despite the declines, the analysis finds the report marks the 15th consecutive month of annual decreases and a 5.4 per cent fall compared with two years ago, yet asking rents remain 14.1 per cent higher than pre-pandemic December 2019 baseline.
- The Canadian Press noted in its Jan 12, 2026 report that condo asking rents fell 4.0 per cent to $2,131, while purpose-built apartment rents decreased 1 per cent to $2,049, with Saskatchewan, Manitoba and Nova Scotia recording increases.
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Canada's average rent hits lowest level in 30 months
Canada’s average asking rent dropped to its lowest point in 30 months, declining 2.3 per cent year-over-year to $2,060 in December, according to the latest National Rent Report from Rentals.ca and Urbanation.This marks the 15th consecutive month of annual rent decreases and a 5.4 per cent fall compared to two years ago. Despite the decline, rents remain 14.1 per cent higher than pre-pandemic levels."After a sharp run-up coming out of COVID, rent…
Rents claimed in Canada decreased by 2.3% from year to year in December, to an average of $2060, marking a full calendar year of decline, with prices reaching their lowest level in 30 months.
·Montreal, Canada
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Coverage Details
Total News Sources14
Leaning Left6Leaning Right0Center5Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 45%
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