Published • loading... • Updated
Canadian asking rents fall 4.2%, extending declines to two years
Supply has driven the downturn, and rents in Toronto and Vancouver are showing signs of stabilization, the report said.
- On Wednesday, October 7, 2026, Rentals.ca and Urbanation reported Canadian asking rents fell for the 24th consecutive month in September, with the national average reaching $2,034.
- Urbanation president Shaun Hildebrand attributed the decline to seasonal post-summer slowdown and increased supply, noting that construction inventory in Toronto and Vancouver has peaked.
- Purpose-Built apartment rents dropped 2.7% to $2,036, while condominium rents declined 7.8% to $2,052; Vancouver and Toronto remain the country's most expensive rental markets.
- Declines in Toronto and Vancouver are narrowing, with rents trending higher over the past six months as renters re-enter the market seeking affordability.
- National rents are 7.3% lower than two years ago, while Statistics Canada data shows average weekly earnings rose 19.4% over five years, signifying improved rental affordability for Canadians.
Insights by Ground AI
11 Articles
11 Articles
In September, the average price charged for rental accommodation was $2034, down 4.2 per cent from last year.
·Montreal, Canada
Read Full Article
Coverage Details
Total News Sources11
Leaning Left6Leaning Right0Center3Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
Factuality
To view factuality data please Upgrade to Premium
