Canadas average asking rent has dropped again, hitting 18-month low – National [Video]

Rental prices across Canada are continuing to drop, with a new report showing asking rents have dropped to an 18-month low.

The national rent report from Rentals.ca and Urbanation found the average monthly asking rent for all residential properties in January fell to $2,100, roughly a 4.4 per cent annual decline and a decrease of $96.

“The downward trend for rents in Canada accelerated during the first month of 2025,” said Shaun Hildebrand, Urbanation president.

“Heightened downside risks for the economy, combined with declining international population inflows and multi-decade highs for apartment completions, suggest rents will continue to weaken in the months ahead.”

January’s drop continued the fall Canadian rents have seen since October, which saw the first annual decrease since 2021.

Rental declines, according to the report, are being spurred on by the secondary market with asking rents for condo apartments falling 6.5 per cent, while houses and townhomes dropped 8.9 per cent.

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