{"id":25947,"date":"2025-06-10T15:15:11","date_gmt":"2025-06-10T22:15:11","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25947"},"modified":"2025-06-10T09:13:03","modified_gmt":"2025-06-10T16:13:03","slug":"the-national-average-asking-rent-making-8th-consecutive-decreases-down-3-3-y-y","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/06\/the-national-average-asking-rent-making-8th-consecutive-decreases-down-3-3-y-y\/","title":{"rendered":"The National Average Asking Rent Making 8th Consecutive Decreases, Down 3.3% Y\/Y"},"content":{"rendered":"

TORONTO \u2014 The national average asking rent in May was down 3.3% from a year earlier at $2,129, marking the eighth consecutive month of year-over-year decreases.<\/p>\n

The monthly report from Rentals.ca and Urbanation said Monday asking rents held steady from April, with a 0.1% month-over-month increase.<\/p>\n

Purpose-built apartment asking rents declined two per cent from a year ago to an average of $2,117, while asking rents for condominium apartments fell 3.6% to $2,192.<\/p>\n

Rents for houses and townhomes declined 7%t to $2,196.<\/p>\n

Urbanation president Shaun Hildebrand said rents have eased in part due to a surge in supply with new apartments being completed, a slowdown in population growth and a heightened level of economic uncertainty.<\/p>\n

\u201cThe easing in rents this year across most parts of the country is a positive for housing affordability in Canada following a period of extremely strong rent inflation lasting from 2022 to 2024,\u201d Hildebrand said in a news release.<\/p>\n

The report said average asking rents in Canada are 5.7% higher than they were two years ago and 12.6% above levels from three years ago.<\/p>\n

Over the past five years, rents in Canada have increased by an average of 4.1% annually, outpacing average wage growth of roughly 3%, it added.<\/p>\n

Ontario recorded the largest rent decline in May, with asking rents falling 3.6% year-over-year to an average of $2,335, followed by BC’s 2.6% decrease to $2,462, Alberta’s 2.4% decrease to $1,745 and Quebec’s 1.8% decrease to $1,964.<\/p>\n

Saskatchewan led the way for year-over-year rent growth, at 3.9%, to an average of $1,386, followed by Nova Scotia at 2.1% to $2,284 and Manitoba at 0.1% to $1,624.<\/p>\n

Apartment rents also fell in four of Canada’s six largest cities, with the other two recording less than 1% annual growth.<\/p>\n

Calgary saw the largest drop at 7.9% to $1,928, followed by a 6.8% annual decrease in Toronto to $2,594 and a 5.9% decline in Vancouver to $2,830.<\/p>\n

Montreal apartment rents were down 3.3% to $1,970, while rents in Edmonton ticked up 0.7% $1,561 and 0.4% in Ottawa to $2,198.<\/p>\n

This report by The Canadian Press was first published June 9, 2025.<\/p>\n

Average Asking Rents Fall Annually for Eighth Straight Month to $2,129<\/a> by Sammy Hudes | The Canadian Press | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"

TORONTO \u2014 The national average asking rent in May was down 3.3% from a year earlier at $2,129, marking the eighth consecutive month of year-over-year decreases. 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