Skip to Content Subscribe Our Offers My Account Manage My Subscriptions FAQ Newsletters Canada Canadian True Crime Canadian Politics Health World Israel & Middle East Financial Post NP Comment Longreads Puzzmo Diversions Comics NP News Quiz New York Times Crossword Horoscopes Life Eating & Drinking Style Sponsored Play for Ontario Travel Travel Canada Travel USA Travel International Cruises Travel Essentials Culture Books Celebrity Movies Music Theatre Television Business Essentials Advice Lives Told Tails Told Shopping Buy Canadian Home Living Outdoor Living Kitchen & Dining Tech Style & Beauty Personal Care Entertainment & Hobbies Gift Guide Travel Guide Amazon Prime Day Deals Savings National Post Store More Sports Hockey Baseball Basketball Football Soccer Golf Tennis Driving Vehicle Research Reviews News Gear Guide Obituaries Place an Obituary Place an In Memoriam Classifieds Place an Ad Celebrations Working Business Ads Archives Healthing Epaper Manage Print Subscription Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ Newsletters Canada World Financial Post NP Comment Longreads Puzzmo Diversions Life Shopping Epaper Manage Print Subscription HomeNewsCanadaWhere has rent spiked and where is it the cheapest in Canada? Here's what StatCan data revealedMetropolitan areas in Canada have seen rent prices decline by as much as 5.9 per cent in the first quarter of the year You can save this article by registering for free here. Or sign-in if you have an account.Downtown Vancouver seen from City Hall, May 4, 2026. Photo by NICK PROCAYLO /10111503ANew data from Statistics Canada has revealed current average asking rents across the country’s metropolitan areas and, in good news for renters, prices have decreased in the first quarter of 2026.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Quarterly Rent Statistics program, which uses listings posted on major rental platforms for Canada’s census metropolitan areas (CMAs), revealed that the average asking rent for a two-bedroom apartment was $2,150 per month in the first quarter of 2026, down 0.9 per cent from the first quarter of 2025, when the figure was $2,170.Average asking rents for two-bedroom apartments decreased for most metropolitan areas across Canada, declining to $2,660 in Toronto (-1.1 per cent), $1,900 in Montréal (-1.6 per cent), $3,100 in Vancouver (-2.2 per cent) and $2,350 in Ottawa–Gatineau (-5.6 per cent).Get a dash of perspective along with the trending news of the day in a very readable format.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of NP Posted will soon be in your inbox.We encountered an issue signing you up. Please try againAsking rents for a two-bedroom apartment decreased the most in Kingston, Ont., down from $1,960 in the last quarter of 2025 to $1,920 in 2026, a 5.9 per cent decline.This decline was followed by the 5.6 per cent decrease in Ottawa–Gatineau, as well as a 5 per cent decrease in Abbotsford–Mission, B.C., and a 4.5 per cent decrease in London, Ont.At the other end of the scale, Saskatoon saw the biggest increase in asking rents, growing from $1,540 to $1,630 per month (+9.4 per cent). This was followed by Greater Sudbury, Ont., with an increase of 7.7 per cent, and Regina, where asking rents increased by 5.7 per cent.The StatCan data also revealed the current asking rents for rooms, one-bed apartments, two-bed apartments and houses with three or more bedrooms across Canada’s CMAs.Perhaps unsurprisingly, Vancouver came in as the city with the highest asking rents, with single rooms priced at an average of $1,060 per month, one-bed apartments at $2,290, two-bed apartments at $3,100 and houses at $4,860.Vancouver has long been considered the most expensive city in Canada, with real estate brokerage Pine ranking it the least affordable city in the country last month due to the monthly cost of living and house prices.A 2025 study from Chapman University, in California, ranked Vancouver as the fourth most expensive city worldwide, behind Hong Kong, Sydney, and San Jose.Meanwhile, the StatCan report found that Sherbrooke, Que., had the cheapest average asking rents for a room, at $520, while one-bedroom apartments were cheapest in Trois-Rivières, Que. ($980), two-bedroom apartments were cheapest in Drummondville, Que. ($1,230), and houses were cheapest in Moncton, N.B. ($1,910).The Canada Mortgage and Housing Corporation (CMHC), which helped conduct the Quarterly Rent Statistics program, puts the easing of asking rents down to increased supply and slower demand.In Toronto and Vancouver, landlords also point to increased competition from a surge in new condos, many of which can’t be absorbed in the ownership market, as a driver of lower asking rents.“Conditions are expected to continue easing as new units take longer to be absorbed and competition from rental condominium apartments increases,” CMHC said.And the StatCan report isn’t the only recent research to shine a light on rental prices in Canada. Rentals.ca has released its June 2026 Rent Report, which also showed a decline in asking rents.The average rent for residential properties in Canada declined for the 20th straight month, down 7.8 per cent from a high of $2,202 in May 2024, it revealed.Interestingly, the report also found that Nova Scotia is now the most expensive province for condominium and purpose-built apartments, overtaking B.C., which Rentals.ca attributes to “a high concentration of new and higher-priced supply in the Halifax and Dartmouth region.”This is consistent with the StatCan data, which noted that average asking rents in Halifax increased by 5.4 per cent in the first quarter of 2026.Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our daily newsletter, Posted, here. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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