Canadian average rent drops another 3%; down $100 since 2023

Canada’s average rent falls below $2.1K as Ontario sees sharpest provincial decline

socastcmsRssStart93.3 myFM News/Classic Rock staffsocastcmsRssEnd Canada’s rental market continues to cool, with the average asking rent falling below $2,100 for the first time in nearly 18 months. According to the National Rent Report from Rentals.ca and Urbanation, the national average dropped 3.1% year-over-year in November to $2,074, marking the 14th consecutive month of annual declines. Ontario saw one of the steepest provincial drops, wit…

Canadian average rent drops another 3%; down $100 since 2023

Canada’s average asking rent price continued its downward trend in November, falling 3.1 per cent year-over-year to $2,075, marking the 14th consecutive month of falling prices.  Rents have hit the lowest level since 2023, falling $100 from two years ago, according to the report. “The rental market in Canada continues to face short-term challenges as demand pulls back due to a flattening in population growth and continued economic uncertainty, w…