June 2025 Rentals.ca Rent Report (Canada)

According to the June 2025 Rentals.ca and Urbanation report, the average asking rent in Canada declined by 3.3% compared to the same time last year, now sitting at $2,129 per month. This represents a notable shift in the rental market, which had previously been marked by continuous increases across major cities.

The report attributes this decline to a combination of factors including slower population growth, a cooldown in rental demand, and more available inventory across some provinces. While affordability challenges remain in high-demand markets like Toronto and Vancouver, secondary cities and suburban areas are seeing a leveling of rents, giving renters more leverage and choices.

For landlords, this changing environment may require a more strategic approach to tenant retention and acquisition. Some may find success through rent incentives, enhanced amenities, or more flexible lease terms. The dip also presents a chance for landlords to recalibrate their pricing models to remain competitive in increasingly price-sensitive markets.

Despite the national average decline, regional differences persist. Alberta and parts of Atlantic Canada saw modest rent increases, while Ontario and British Columbia experienced sharper declines. These shifts emphasize the importance of localized market awareness for investors and property managers.

As the market continues to adjust in the second half of 2025, landlords who remain agile and responsive to tenant needs are best positioned to maintain strong occupancy and long-term profitability.

https://rentals.ca/national-rent-report