Rents across Canada still down from 2024, with Durham Region market flat: report [Video]

The average asking rent for all residential properties in Canada increased by 1.5 per cent in March to $2,119 but is still down year-over-year by 2.8 per cent and remained relatively flat in Durham Region

Rents in major markets continued to decline, reaching multi-year lows. Toronto fell 6.9 per cent annually to $2,589 – a 32-month low – while Vancouver dropped 5.7 per cent to a 35-month low of $2,822. Calgary saw the largest annual decline among major cities at 7.8 per cent, while Ottawa (+0.9 per cent) and Edmonton (+1.0 per cent) managed small increases.

Vancouver and its suburbs typically have the highest rents in Canada, followed by Toronto and the GTA, and that hasn’t wavered in the latest National Rent Reportfrom Rentals.ca and Urbanation, with left coast communities sweeping the top four spots in March, with the Ottawa suburb of Kanata sandwiched in fifth before the GTA completed the top …