Asking rents in Canada fell year-over-year for the seventeenth straight month in February to a mean of $2,030.
The newest month-to-month report from Leases.ca and Urbanation says common asking rents have been down 2.8 per cent from February 2025, as costs additionally fell 1.3 per cent on a month-over-month foundation.
Asking rents for purpose-built residences moved 1.9 per cent decrease year-over-year to a mean of $2,030, whereas asking rents for condominium residences fell 5.1 per cent year-over-year to $2,082.
Measured by province, Alberta noticed the steepest decline in common residence rents at 4.4 per cent, adopted by Ontario at 4.3 per cent, B.C. at 4.2 per cent and Quebec at 2.7 per cent. Common residence rental asks rose in Nova Scotia, Saskatchewan and Manitoba.
The report says nationwide rents are actually at their lowest degree in 33 months, down 7.4 per cent in contrast with two years in the past, nonetheless common asks are nonetheless 2.3 per cent increased than three years in the past.
Urbanation president Shaun Hildebrand says Canada goes by means of its largest downturn in rents in current historical past amid an inflow of provide and sluggish demand, which has led to “a uncommon alternative for renters to make the most of higher affordability.”
This report by The Canadian Press was first printed March 9, 2026.
The Canadian Press