Asking rents in Canada continued their downward trend last month compared to a year ago, with a recent report revealing an average cost of $2,033 for June. This marks a 4.3% decrease from June 2025, making it the 21st consecutive month of year-over-year declines. The data comes from the latest monthly analysis by Rentals.ca and Urbanation, focusing on asking rents within Rentals.ca’s listings network. June also saw the lowest asking price in four years for this specific month.

Although the decline in average asking rents persisted, the pace slowed down compared to previous months. The average asking rents dropped by 5.3% in March and 4.7% in April and May. However, there was a slight uptick of 0.2% on a month-over-month basis from May.

Purpose-built apartment asking rents fell by 3.1% year-over-year to an average of $2,034 last month, while condominium apartment rents decreased by 6.8% to $2,058. Secondary market units such as houses and townhouses experienced the most significant annual decline, dropping by 7.4% to $2,017.

On a provincial level, British Columbia and Ontario saw the largest year-over-year drops in the average rental price at 5.3% each, bringing the average asking rents to $2,377 and $2,233, respectively. Alberta witnessed a 4.2% decrease in average asking rents to $1,766, while Quebec saw a 2.2% drop to $1,929.

In Atlantic Canada, there was a notable increase in average asking prices, rising by 5.3% to $2,271 across the region. Nova Scotia emerged as the most expensive province for apartment and condo rentals, with an average price of $2,360. This is attributed to a higher concentration of listings in new buildings and a larger proportion of large-sized units in Nova Scotia.

Nationally, two and three-bedroom units experienced the smallest price drops, decreasing by 2.8% and 2.9%, respectively.