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Average national asking rents fall to $2,008 after largest drop in five years: report
Average national asking rents in Canada fell to $2,008 in March, marking a 5.3% decrease from March 2025, according to Rentals.ca and Urbanation.
This is the largest drop in nearly five years and the 18th straight month rents have declined year-over-year, with a 1.1% drop since February.
Asking rents for purpose-built apartments decreased 3.9% to $2,005 year-over-year, while condominium rents fell 6.9% to $2,077.
Urbanation president Shaun Hildebrand attributed the rent decreases to a declining population, affordability issues, economic uncertainty, and high apartment completions.