Asking rents in Canada saw a continued decline last month compared to a year earlier, with the average cost estimated at $2,033 for June, according to a recent report. This marks a 4.3% drop from June 2025, representing the 21st consecutive month of year-over-year decreases. The analysis, based on asking rents from Rentals.ca and Urbanation, reveals that this figure is the lowest asking price for the month of June in four years.
Although the pace of decline slowed down, with average asking rents decreasing by 5.3% in March and 4.7% in April and May, prices did show a slight increase of 0.2% on a month-over-month basis from May. Specifically, asking rents for purpose-built apartments fell by 3.1% year-over-year to an average of $2,034, while rents for condominium apartments dropped 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 the average asking rents to $2,377 and $2,233, respectively. In Alberta, average asking rents decreased by 4.2% to $1,766, while Quebec saw a 2.2% drop to $1,929. On the other hand, Atlantic Canada witnessed the most significant increase in average asking prices, rising by 5.3% to $2,271 across the region.
Nova Scotia emerged as the most expensive province for apartment and condo rentals, with an average price of $2,360. This is attributed to a higher concentration of listings in new buildings and a larger proportion of large-sized units in Nova Scotia. Nationally, two and three-bedroom units experienced the least price drops, declining by 2.8% and 2.9%, respectively.