Canada’s Rental Market at a Crossroads: Vacancy Rates Surge, Rent Growth Slows | PR Newswire [Video]

Rent growth slows, vacancies stay low, supply struggles to catch up.

, /PRNewswire/ — Yardi® Canada has released its latest multifamily report for Q1 2025, offering insights into the trends that shaped Canada’s apartment market during Q4 2024. Drawing on anonymized data from over 492,000 units across 5,500 properties, the report highlights rising vacancy rates, slowing rent growth and persistent affordability pressures for renters.

As the Canadian rental market enters 2025, some relief from intense competition is emerging, but affordability and supply constraints remain critical challenges. While lower interest rates and easing inflation provide opportunities, slower immigration growth and high development costs continue to shape the landscape.

Key Findings from the Q1 2025 Report:

• Vacancy Rates Rise: National vacancy reached 3.6%, the highest since 2020, with bachelor units seeing the largest increases.
• Turnover Edges Higher: The annual turnover rate rose slightly to 23.1% but remains historically low, reflecting steady rental demand.
• Unit Completions Climb:…