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A new report said the national average required rent was $2,119 in March, marking a sixth straight month of decline.
Monthly data provided by rents and urbanization showed that rents last month fell 2.8% compared with March 2024. Rents per month are 1.5% higher than in February, the first increase since September last year.
Urbanization President Shaun Hildebrand said renters were more active in March than in recent months, which may be attributed to increased affordability, but “rents may face recent downward pressure” as the economy faces challenges from the U.S.-Canada trade war.
The report said that average rents in Canada are still 17.8% higher than the pandemic rate five years ago in March 1920.
Dedicated apartments require rents to fall by 1.5% from a year ago, an average of $2,086, while also requiring rents for apartments to fall by 3.8% to $2,232.
Ontario has the highest rents, with apartment rentals totaling 3.5% dropping in March, with an average rent of $2,327, followed by Quebec’s 2.5% drop to $1,949.
This report by Canadian media was first published on April 8, 2025.
Canadian media
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