Asking rents in Canada continued to decrease last month compared to a year ago, with a recent report indicating an average cost of $2,033 for June. This marks a 4.3% drop from June 2025, representing the 21st consecutive month of year-over-year declines according to the latest monthly analysis from Rentals.ca and Urbanation. It also marks the lowest asking price specifically for the month of June in four years.
Although the pace of decline has slowed down, average asking rents declined by 5.3% in March and 4.7% in both April and May. Prices did see a slight increase of 0.2% on a month-over-month basis from May.
For purpose-built apartments, asking rents fell 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, dropping by 7.4% to $2,017.
At the provincial level, British Columbia and Ontario each saw the largest year-over-year drops in average rental prices at 5.3%, bringing average asking rents to $2,377 and $2,233, respectively. In Alberta, average asking rents fell by 4.2% to $1,766, while Quebec saw a 2.2% drop to $1,929.
Atlantic Canada experienced 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 saw the smallest price drops, decreasing by 2.8% and 2.9%, respectively.