(Toronto) The requested national average rent decreased by 3.6 % in July compared to the previous year to stand at $ 2121. This is the tenth consecutive month of decrease over one year and the highest decrease of 2025 so far.
The latest monthly report of Rentals.ca and Urban indicates that the rents requested remained relatively stable in July when compared months per month, with a drop of $ 4 compared to June.
The report mentions that the rents requested for apartments built for rental purposes decreased by 1.7 % compared to the previous year to reach an average of $ 2095, while those of the condominium apartments dropped by 5.7 % to stand at $ 2202.
The rents of houses and houses in row fell by 8.2 % to stand at $ 2170.
“The Canadian rental market is going through an extended slowdown phase, the drop in prices accelerating in most provinces and types of units,” said David Aizikov, Director of Rentals.CA data services, in a press release.
“The seasonal point is now behind us, we are planning continuous drop pressure on rents when falling from fall,” he added.
The report specifies, however, that the average rents requested in Canada are still 2 % higher than those of two years ago and 11 % to those of three years ago.
In Quebec, the average rent of apartments was quantified at $ 1952 in July, which represents a drop of 0.7 % over a year.
Nova Scotia recorded the highest drop in apartments in July in July, with a decrease of 5 % over one year to reach an average of $ 2,275. It is followed by British Columbia (-4.4 %), at $ 2475, and Ontario (-3 %) at $ 2325.
In Alberta, the average rents requested decreased by 3.9 % over a year to reach $ 1738, while in Manitoba, they fell 0.9 % to an average of $ 1617.
Although it is the most affordable province in Canada for rents, Saskatchewan experienced annual growth of 4 % to an average of $ 1384.
The rents of apartments have decreased in four of the six largest cities in Canada, the other two recording annual growth of 1 % or less.
In Montreal, the rents of apartments decreased by 2.3 %, reaching $ 1966. Calgary recorded the highest drop, 7.9 %reaching $ 1927, followed by Vancouver (7 %), which established $ 2830, and Toronto (4.7 %), with $ 2587.
In addition, in Ottawa, rents increased by 1 % to stand at $ 2199, and Edmonton (0.6 %), reaching $ 1573.