Canadian Rent Drops to 18-Month Low Improving Affordability
Image by: unsplash
In January 2025, average Canadian rent continued its decline, marking a 4.4% decrease year-over-year, reaching an 18-month low. The national average rent dropped to $2,100, with Ontario seeing the most significant relief, including a notable drop in Toronto.
The rent decline is linked to factors like economic uncertainty, slower population growth, and a surge in apartment completions. In particular, condominium rents fell by 6.5%, while purpose-built rentals showed more stability. Shared accommodations also saw a 7.6% drop.
While affordability is improving, rents remain higher than they were three years ago, signaling mixed conditions across the country, with Alberta and Quebec seeing slight increases.
Read the full article on: STOREYS
