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Asking rents in Canada continued to sink lower last month compared with a year ago, with a new report pegging the average cost at $2,033 for June.
That’s down 4.3 per cent from June 2025, marking the 21st consecutive month of year-over-year declines, according to the latest monthly analysis from Rentals.ca and Urbanation, which is based on asking rents across the former’s listings network.
Its also the lowest asking price for the month of June specifically in four years.
The pace of decline was slower than in past months, however — average asking rents declined by 5.3 per cent in March and 4.7 per cent in April and May.
Prices ticked up 0.2 per cent on a month-over-month basis from May.
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Asking rents for purpose-built apartments fell 3.1 per cent year-over-year to an average of $2,034 last month, while asking rents for condominium apartments decreased 6.8 per cent to $2,058.
Secondary market units such as houses and townhouses saw the steepest annual decline, down 7.4 per cent to $2,017.
At the provincial level, British Columbia and Ontario each posted the largest year-over-year drops in the average rental price at 5.3 per cent each, bringing average asking rents to $2,377 and $2,233, respectively, in those provinces.
In Alberta, average asking rents fell 4.2 per cent to $1,766, while Quebec saw a 2.2 per cent drop to $1,929.
Rental vacancies have hit a five-year high across the Greater Toronto and Hamilton Area, according to data from real estate analysis company Urbanation. CBC’s Dale Manucdoc explains how market pressures are leading to more affordable housing options for renters.
Atlantic Canada saw the biggest jump in average asking prices, rising 5.3 per cent to $2,271 across the region.
Nova Scotia, was the most expensive province for apartment and condo rentals, specifically, with an average price at $2,360. The report says that’s due to a higher concentration of listings in new buildings, plus a bigger proportion of large sized units in Nova Scotia.
Nationally, two and three bedroom units also dropped the least in price — down 2.8 per cent and 2.9 per cent, respectively.
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