Asking rents in Canada continued to decline last month compared to a year earlier, with a recent report indicating an average cost of $2,033 for June. This marks a 4.3% decrease from June 2025, representing the 21st consecutive month of year-over-year declines. The data, based on asking rents within Rentals.ca and Urbanation’s listings network, shows that this is the lowest asking price for June in four years.
While the rate of decline has slowed compared to previous months, with average asking rents decreasing by 5.3% in March and 4.7% in April and May, there was a slight increase of 0.2% from May to June.
Notably, asking rents for purpose-built apartments dropped by 3.1% year-over-year to an average of $2,034 last month, while condominium apartment rents decreased by 6.8% to $2,058. Secondary market units like houses and townhouses experienced the most significant annual decline, down by 7.4% to $2,017.
Provincially, British Columbia and Ontario recorded the largest year-over-year drops in average rental prices at 5.3% each, bringing average asking rents to $2,377 and $2,233, respectively. Alberta witnessed a 4.2% decrease to $1,766, while Quebec saw a 2.2% drop to $1,929.
On the other hand, Atlantic Canada saw a notable increase in average asking prices, rising by 5.3% to $2,271 across the region. Nova Scotia stood out as the most expensive province for apartment and condo rentals, with an average price of $2,360. This can be attributed to a higher concentration of listings in new buildings and a larger proportion of larger-sized units in Nova Scotia.
Nationally, two and three-bedroom units experienced the smallest price drops, declining by 2.8% and 2.9%, respectively.