By Sammy Hudes

The month-to-month report from Leases.ca and Urbanation stated Monday asking rents held regular from April, with a 0.1% month-over-month improve.

Goal-built condominium asking rents declined two per cent from a yr in the past to a mean of $2,117, whereas asking rents for condominium flats fell 3.6% to $2,192.

Rents for homes and townhomes declined seven per cent to $2,196.

Urbanation president Shaun Hildebrand stated rents have eased partly because of a surge in provide with new flats being accomplished, a slowdown in inhabitants progress and a heightened degree of financial uncertainty.

“The easing in rents this yr throughout most components of the nation is a constructive for housing affordability in Canada following a interval of extraordinarily robust lease inflation lasting from 2022 to 2024,” Hildebrand stated in a information launch.

The report stated common asking rents in Canada are 5.7% greater than they had been two years in the past and 12.6% above ranges from three years in the past.

Over the previous 5 years, rents in Canada have elevated by a mean of 4.1% yearly, outpacing common wage progress of roughly three per cent, it added.

Ontario recorded the biggest lease decline in Might, with asking rents falling 3.6% year-over-year to a mean of $2,335, adopted by B.C.’s 2.6% lower to $2,462, Alberta’s 2.4% lower to $1,745 and Quebec’s 1.8% lower to $1,964.

Saskatchewan led the way in which for year-over-year lease progress, at 3.9%, to a mean of $1,386, adopted by Nova Scotia at 2.1% to $2,284 and Manitoba at 0.1% to $1,624.

House rents additionally fell in 4 of Canada’s six largest cities, with the opposite two recording lower than one per cent annual progress. 

Calgary noticed the biggest drop at 7.9% to $1,928, adopted by a 6.8% annual lower in Toronto to $2,594 and a 5.9% decline in Vancouver to $2,830.

Montreal condominium rents had been down 3.3% to $1,970, whereas rents in Edmonton ticked up 0.7% $1,561 and 0.4% in Ottawa to $2,198.

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Final modified: June 9, 2025