Average asking rent fell for the 14th consecutive month to $2,074 in November, the report said

The latest monthly report from Rentals.ca and Urbanation said average asking rents also fell 1.5% month-over-month, the largest decline in 2025.

Asking rents for purpose-built apartments fell 2% year over year to an average of $2,060, while asking rents for apartments fell 3.7% year over year to $2,157.

By province, average apartment rents fell last month in all regions except Saskatchewan and Nova Scotia, with the largest declines occurring in British Columbia at 6.4 per cent, Alberta at 4.3 per cent and Ontario at 3.5 per cent.

Rents are now at their lowest levels since June 2023, but the average asking price is still 3.4% higher than three years ago, the report said.

Shaun Hildebrand, president of Urbanation, said he expects rents to continue trending downward in the coming months amid a pullback in demand due to the typical seasonal slowdown, lower population growth and ongoing economic uncertainty.

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Canada Real Estate Asking Rent Prices Average Rent Prices Shaun Hildebrand Urbanation Rent Report

Last modified: December 9, 2025