Average asking rents fell every month of 2025, report says

Asking rents in Canada fell 2.3 per cent year-over-year in December to an average of $2,060, marking a full calendar year of declines as prices reached their lowest level in 30 months.

The latest monthly report from Rentals.ca and Urbanation says when measured across the full year, average asking rents in Canada declined 3.1 per cent in 2025, which was a larger annual drop than seen during the COVID-19 pandemic.