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Toronto and Vancouver Post First Rent Increase in Nearly Three Years
Rents in Toronto and Vancouver rose for the first time in nearly three years, a report shows.
Key points
- Average asking rent across Canada was $2,036 in October, down 3.2 per cent from October 2025.
- Condo rents fell 5.5 per cent nationally, while purpose-built rents dropped 2.1 per cent.
- Calgary posted the largest annual rent decline among the six largest markets, at 2.4 per cent.
Why it matters. Renters in Canada's largest cities may have less room to find cheaper rents, Hildebrand said, as the national decline continues to slow.
A Rentals.ca and Urbanation report released Thursday showed average asking rents across Canada fell 3.2 per cent to $2,036 in October, a 25th straight monthly decline. Rents rose 1.6 per cent in Toronto and 0.2 per cent in Vancouver compared with October 2025, ending 36 and 34 months of declines. Urbanation president Shaun Hildebrand said declining supply is driving the increases and that the window for cheaper rents is closing in those cities.
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Toronto and Vancouver Post First Rent Increase in Nearly Three Years
Canada's most expensive housing markets, Toronto and Vancouver, saw their first increase in average asking rents in nearly three years, a report from Rentals.ca shows. The average asking rent for all residential property types across Canada was $2,036 in October. Rents across the country as a whole continued to fall, the report found. The findings suggest rental pressure is easing nationally while the two largest urban markets have begun to turn, though the report's snippet does not give the size of the Toronto and Vancouver increases.