Average rental prices in Canada experienced a continued decline in June compared to the previous year, hitting an average of $2,033, as reported by Rentals.ca and Urbanation. This marks the 21st consecutive month of year-over-year decreases. The latest analysis shows a 4.3% drop from June 2025, making it the lowest June average in four years. Although the decline rate slowed down, with rents falling by 5.3% in March and 4.7% in April and May, there was a slight 0.2% increase from May.
Purpose-built apartment rents decreased by 3.1% to an average of $2,034, while condominium apartment rents dropped by 6.8% to $2,058. Secondary market units like houses and townhouses saw the largest decline at 7.4%, reaching $2,017.
British Columbia and Ontario recorded the largest year-over-year drops in average rental prices at 5.3% each, leading to average rents of $2,377 and $2,233, respectively. Alberta experienced a 4.2% decrease to $1,766, and Quebec saw a 2.2% drop to $1,929.
Atlantic Canada saw a significant increase in average asking prices, rising by 5.3% to $2,271. Nova Scotia stood out as the most expensive province for apartment and condo rentals, with an average price of $2,360, attributed to a higher concentration of listings in new buildings and a larger proportion of spacious units.
Nationally, two and three-bedroom units experienced the smallest price drops, down by 2.8% and 2.9%, respectively.