Asking rents in Canada continued their downward trend last month compared to a year earlier, with an average cost of $2,033 for June, according to a recent report. This marks a 4.3% decrease from June 2025, making it the 21st consecutive month of year-over-year declines. The analysis, based on Rentals.ca and Urbanation data, reveals that this is the lowest asking price recorded for the month of June in the past four years.
Despite the ongoing decline, the rate of decrease slowed down in June. Average asking rents fell by 5.3% in March and 4.7% in both April and May. Prices saw a slight increase of 0.2% on a month-to-month basis from May.
In terms of property types, purpose-built apartment rents dropped by 3.1% year-over-year to an average of $2,034 in the last month, while condominium apartment rents decreased by 6.8% to $2,058. Secondary market units like houses and townhouses experienced the largest annual decline, down by 7.4% to $2,017.
On a provincial level, British Columbia and Ontario recorded the largest year-over-year drops in average rental prices, both at 5.3%. This brought the average asking rents in these provinces to $2,377 and $2,233, respectively. Alberta witnessed a 4.2% decrease to $1,766, and Quebec saw a 2.2% drop to $1,929.
In contrast, Atlantic Canada saw the most significant increase in average asking prices, rising by 5.3% to $2,271. Nova Scotia emerged as the priciest 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 larger units in Nova Scotia.
Nationally, two and three bedroom units experienced the smallest price drops, decreasing by 2.8% and 2.9%, respectively.