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Rents are falling in Calgary, Toronto, Vancouver and Halifax as supply . . . A rapid increase in the supply of rental housing is pushing down advertised rents in some major Canadian cities, according to the Canada Mortgage and Housing Corporation (CMHC) Rents have declined between two to eight per cent in Calgary, Toronto, Vancouver and Halifax from a year ago, the CMHC said in its mid-year rental market report Tuesday
2025 Mid-Year Rental Market Update | CMHC As a result, in Calgary, Toronto, Vancouver and Halifax Census Metropolitan Areas (CMAs), advertised rents 2 in Q1 2025 declined between 2% to 8% compared to the same period a year earlier (see Figure 1 and 2) Edmonton, Ottawa and Montréal, however, continued to see an annual increase in the average advertised rent although at a slower pace
Some rent listings decline, but affordability still worsens Rent listings in a few of Canada’s most expensive cities have begun to decline However, the average renter is still paying more each year and falling further behind on affordability According to the Canada Mortgage and Housing Corporation’s 2025 Mid-Year Rental Market Update, advertised rents for two-bedroom purpose-built apartments declined in Vancouver, Toronto, Calgary and Halifax
Rental prices drop in major Canadian cities yet affordability still . . . Faced with longer vacancy periods in several major cities, landlords of purpose-built rentals are introducing incentives such as free rent and moving allowances, according to a new report by Canada Mortgage and Housing Corporation (CMHC), which also noted falling average asking rents in markets like Vancouver, Halifax, and Toronto In its mid-year rental market update, CMHC reported that
Rental Market Report. Calgary’s rent growth slowed in 2024 but still significantly outpaced all other large urban centres due to unabated rental demand Strong rent increases were supported by updated rental stock over the recent years, with a growing share of newer units becoming competitive with homeownership and secondary rental options
Average Canadian Rent Down For Ninth Consecutive Month On the municipal level, four out of Canada's six largest cities experienced yearly rent declines, with the exception of Edmonton and Ottawa, which both posted "modest increases" of 0 6% and 1%, respectively Bringing up the rear, according to the report, were Calgary, Vancouver, Toronto, and Montreal at -7 9%, -7%, 4 7%, and 2 3%, respectively