Canada’s Average Asking Rents Drop to $2,060, Lowest in 30 Months

In December 2025, Canada’s average asking rent fell 2.3 % year‑over‑year to $2,060—its lowest level in 30 months and the 15th consecutive month of decline. Across the year rents dropped 3.1 %, a steeper decline than in the height of COVID‑19. Prices are 5.4 % lower than two years ago and still 14.1 % above pre‑pandemic December 2019 levels. Provincial changes include a 7.9 % fall in Vancouver to $2,654, a 5.1 % drop in Toronto to $2,498, and 5.4 % and 3.2 % decreases in British Columbia ($2,353) and Ontario ($2,257). Alberta and Quebec fell 2.7 % and 1.9 %, while Saskatchewan rose 7.1 % to $1,395 and Nova Scotia up 1.8 % to $2,268.