Average asking rents in Canada continued to decline last month compared to a year ago, with a new report revealing a $2,033 average cost for June. This marks a 4.3% decrease from June 2025 and represents the 21st consecutive month of year-over-year declines, according to the latest analysis from Rentals.ca and Urbanation. The average asking price for June is the lowest in four years.
Although the pace of decline has slowed down, with average asking rents decreasing by 5.3% in March and 4.7% in April and May, there was a slight uptick of 0.2% on a month-over-month basis from May. Purpose-built apartments saw a 3.1% annual decline to an average of $2,034, while condominium apartments experienced a 6.8% decrease to $2,058. Secondary market units like houses and townhouses had the steepest annual decline, dropping by 7.4% to $2,017.
British Columbia and Ontario recorded the largest year-over-year drops in average rental prices at 5.3% each, bringing the average asking rents to $2,377 and $2,233 in those provinces, respectively. Alberta saw a 4.2% decrease to $1,766, and Quebec experienced a 2.2% drop to $1,929. Atlantic Canada saw the most significant increase in average asking prices, rising by 5.3% to $2,271 across the region. Nova Scotia emerged 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 larger units available.
Nationally, two and three-bedroom units experienced the smallest price drops, decreasing by 2.8% and 2.9%, respectively.