Toronto asking rents dropped again in April over last year. Will they continue to dip come summer?
Toronto's still one of the most expensive cities for renters in Canada, but prices decreased by 5.1 per cent in April compared to one year prior, a new report has found.
Units up for rent in Ontario's capital averaged $2,618, according to the latest National Rent Report by Rentals.ca and Urbanation.
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CTV News
4 hours ago
- CTV News
Average rent for 1-bedroom apartment in Ottawa drops below $2,000 in May
A for-rent and a for-sale sign are displayed on a house in a new housing development in Ottawa on Friday, Oct. 14, 2022. THE CANADIAN PRESS/Sean Kilpatrick The average cost to rent a one-bedroom apartment in Ottawa dropped below $2,000 a month in May for the first time since last summer, as renters found some relief on the market. The monthly rental report from and Urbanation shows the average rent for a one-bedroom apartment in Ottawa was $1,994 in May, down from $2,016 in April and $2,024 in March. A one-bedroom apartment rented for $1,989 a month last July. The cost to rent a two-bedroom apartment was $2,559 in May, down from $2,589 in April. According to the report, the average rent for an apartment or condominium in Ottawa was $2,239 in May, up from $2,220 in April and $2,219 in March. Ottawa was the only major Canadian city to see an annual increase in rental rates. In May 2024, the average rent across all apartment types in Ottawa was $2,149, and a one-bedroom apartment rented for an average of $1,982. Across Canada, the average asking rent for all residential properties was $2,129 in May, down 3.3 per cent from May 2024. 'The easing in rents this year across most parts of the country is a positive for housing affordability in Canada following a period of extremely strong rent inflation lasting from 2022 to 2024,' Shaun Hildebrand, President of Urbanation, said in a statement. 'Rents have recently been impacted by the combination of a surge in supply from new apartment completions, as well as a slowdown in population growth and a heightened level of economic uncertainty.' Vancouver has the highest average rent in Canada at $2,839 a month. A one-bedroom apartment rented for $2,544 a month in May. Toronto has the second highest asking rent in Canada at $2,606 a month, with a one-bedroom costing $2,302 a month. The average rent in Kingston was $2,076 a month in May, with a one-bedroom apartment costing an average of $2,025 a month. In Gatineau, the average rent in May was $1,973 a month. Kanata and Gloucester The cost to rent an apartment in Ottawa's suburbs dropped in May. According to the report, the average asking rent was $2,439 a month in Kanata. That's down from $2,478 a month in April. The average asking rent in Gloucester dropped from $2,286 in April to $2,218 in May. Kanata and Gloucester have the most expensive rental rates for areas outside of the Greater Toronto Area.
CTV News
5 hours ago
- CTV News
Average asking rents fall annually for eighth straight month to $2,129: report
A for-rent and a for-sale sign are displayed on a house in a new housing development in Ottawa on Friday, Oct. 14, 2022. THE CANADIAN PRESS/Sean Kilpatrick The national average asking rent in May was down 3.3 per cent from a year earlier at $2,129, marking the eighth consecutive month of year-over-year decreases. The latest monthly report from and Urbanation says asking rents held steady from April, with a 0.1 per cent month-over-month increase. Purpose-built apartment asking rents declined two per cent from a year ago to an average of $2,117, while asking rents for condominium apartments fell 3.6 per cent to $2,192. Urbanation president Shaun Hildebrand says rents have eased in part due to a surge in supply from new apartment completions, a slowdown in population growth and a heightened level of economic uncertainty. The report says average asking rents in Canada are 5.7 per cent higher than they were two years ago and 12.6 per cent above levels from three years ago. Ontario recorded the largest rent decline in May, with asking rents falling 3.6 per cent year-over-year to an average of $2,335, followed by B.C.'s 2.6 per cent decrease to $2,462, Alberta's 2.4 per cent decrease to $1,745 and Quebec's 1.8 per cent decrease to $1,964. This report by The Canadian Press was first published June 9, 2025. By: Sammy Hudes
Toronto Sun
5 hours ago
- Toronto Sun
Average asking rents fall annually for eighth straight month to $2,129: report
Published Jun 09, 2025 • 1 minute read Photo by Getty Images TORONTO — The national average asking rent in May was down 3.3 per cent from a year earlier at $2,129, marking the eighth consecutive month of year-over-year decreases. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The latest monthly report from and Urbanation says asking rents held steady from April, with a 0.1 per cent month-over-month increase. Purpose-built apartment asking rents declined two per cent from a year ago to an average of $2,117, while asking rents for condominium apartments fell 3.6 per cent to $2,192. Urbanation president Shaun Hildebrand says rents have eased in part due to a surge in supply from new apartment completions, a slowdown in population growth and a heightened level of economic uncertainty. The report says average asking rents in Canada are 5.7 per cent higher than they were two years ago and 12.6 per cent above levels from three years ago. Ontario recorded the largest rent decline in May, with asking rents falling 3.6 per cent year-over-year to an average of $2,335, followed by B.C.'s 2.6 per cent decrease to $2,462, Alberta's 2.4 per cent decrease to $1,745 and Quebec's 1.8 per cent decrease to $1,964. Canada Sunshine Girls World Golf Editorial Cartoons
