10/11/2026
Canada Rents Show Early Stability
Noticing some early signs of stability in Canada’s rental market lately. The average asking rent is hovering around $2,000 in Early-Q3—down about 4% from last year, but up slightly (less than 1%) compared to the previous month. What stands out to me: this is the smallest annual dip since Early-Q1 2026. After 22 months of year-over-year declines, we’re now seeing four straight months of modest gains since hitting a nearly three-year low. That’s the kind of steadying trend that signals a seasonal uptick, especially with the back-to-school rush underway.
Purpose-built rentals have been the most resilient segment, with rents down just 3% compared to last year and three-bedroom units holding steady. Condo apartments and single-family homes—like houses and townhomes—saw larger dips at 6% and 8% respectively. Nationally, apartment and condo rents are both averaging around $2,000 to start Q3, a slight increase from Late-Q2. Toronto is especially interesting: listings have dropped by about 6%, and rents there are edging closer to positive territory.
Right now, it’s clear the market is stabilizing, not quite recovering. I’ll continue to keep an eye on Toronto for any early shifts, especially as seasonal factors play out. (And if you ever spot Max, my loyal French Bulldog, in the background, you know I’m always keeping things grounded—both in real estate and life!)
