Toronto Shows Early Signs of Stabilizing: Report

03-Aug-2026

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According to the latest National Rent Report from Rentals.ca and Urbanation, the average asking rent for all residential properties in Canada declined 4.3 per cent year-over-year in June to $2,033, marking the 21st consecutive month of annual rent decreases.

The report noted that the pace of decline continued to ease after larger annual drops of 5.3 per cent in March and 4.7 per cent in April and May. Rents were up 0.2 per cent month-over-month in June, the third consecutive monthly increase since asking rents hit a 35-month low of $2,008 in March. Over the past two years, rents have declined 6.9 per cent, falling to their lowest June level in four years.

“Canada’s rental market continued to show signs of improvement in June, with rents rising for a third straight month and the pace of annual declines easing from earlier in the year,” said Shaun Hildebrand, president at Urbanation. “Toronto’s gradual stabilization could be an early signal that the market is beginning to bottom out this cycle.”