Kingston moves into top 5 markets
Vancouver, BC continues to rank as the priciest market in the country, though both one and two-bedroom rents are down nearly 6% year-over-year, settling at medians of $2,450 and $3,300, respectively. Burnaby, BC follows closely in second place, where declines for both bedroom types have been slightly softer, around 4-5%, bringing rents down to $2,250 for one-bedrooms and $2,800 for two-bedrooms. Toronto, ON rounds out the top three but is experiencing one of the sharpest declines nationally. One-bedroom rent in Toronto has fallen 10% annually, and two-bedrooms are down 8.3%, reflecting shifts in renter budgets, competition, and overall demand in the GTA.
The biggest shakeup in the top markets was in Kingston, ON, which moved into the top 5 to become the 4th priciest city, with both the largest monthly and annual growth rates in the nation for one and two-bedrooms. Halifax, NS follows closely behind, rounding out the upper tier.
National rent index shows 14 straight months of annual declines
Canada’s rental market continued its steady softening, marking the 14th consecutive month of annual rent declines nationwide. According to Zumper’s Canadian National Rent Index, the median one-bedroom fell 1.1% last month to $1,789, while two-bedroom units decreased 1.6% to $2,199. On an annual basis, rents for one and two-bedrooms are now down 5% and 5.3%, respectively, the largest year-over-year drops recorded since the index launched in 2022.
The persistent cooling in rents points to a broad rebalancing after several years of intense price growth across major markets. Seasonal patterns are also at play, as winter typically brings a slowdown in demand. Still, this year’s declines are layered on top of a longer-term cooling cycle driven by rising supply, shifting population flows, and economic uncertainty that is muting general renter demand.
Where rents are cooling the fastest
Across the 23 cities analyzed, the vast majority posted annual rent declines. However, some markets stood out for the size of their corrections. Barrie, ON experienced the sharpest annual drop in the country, with one-bedroom rent falling 11.1%. Québec, QC and Toronto followed closely, each recording declines of around 10%, while Edmonton, AB and London, ON posted notable decreases of 9% and 8.1%, respectively.
Biggest annual climbers
Kingston, ON stands out as the country’s most dramatic outlier. One-bedroom rent has surged nearly 25% year-over-year, while two-bedroom units are up more than 15%, the largest annual increases across the country. Kingston’s ascent underscores how even historically stable markets can experience sharp price jumps when a combination of low vacancy, steady population inflows, and institutional anchors collide.
The Prairie provinces tell a similar story on a smaller scale. Saskatoon, SK and Regina, SK, which are still among the more affordable markets nationally, both posted positive annual rent growth. Saskatoon saw one-bedroom rent climb 8.7% year-over-year, while Regina experienced more modest but still notable yearly growth. These markets are benefiting from interprovincial migration trends, as renters priced out of larger cities look to mid-sized areas offering better affordability and economic stability.
Full Data
| 1 Bedroom | 1 Bedroom | 1 Bedroom | 2 Bedrooms | 2 Bedrooms | 2 Bedrooms | |||
|---|---|---|---|---|---|---|---|---|
| Ranking | Ranking Change | City | Price | M/M% | Y/Y% | Price | M/M% | Y/Y% |
| 1 | 0 | Vancouver, BC | $2,450 | -2.00% | -5.80% | $3,300 | -1.50% | -5.70% |
| 2 | 0 | Burnaby, BC | $2,250 | -2.20% | -4.70% | $2,800 | 0.00% | -5.10% |
| 3 | 0 | Toronto, ON | $2,150 | -0.90% | -10.00% | $2,750 | -0.40% | -8.30% |
| 4 | 2 | Kingston, ON | $2,120 | 6.00% | 24.70% | $2,360 | 5.80% | 15.10% |
| 5 | -1 | Halifax, NS | $2,100 | 0.00% | 2.40% | $2,500 | -3.10% | -1.20% |
| 6 | 1 | Ottawa, ON | $1,960 | 0.50% | -2.00% | $2,400 | -1.60% | 0.00% |
| 7 | -2 | Victoria, BC | $1,950 | -3.00% | -7.10% | $2,550 | -2.70% | -8.60% |
| 8 | 0 | Kelowna, BC | $1,800 | -3.20% | -6.20% | $2,220 | -5.10% | -3.50% |
| 9 | 2 | Kitchener, ON | $1,790 | 1.70% | -0.60% | $2,000 | -1.00% | -7.40% |
| 10 | -1 | Barrie, ON | $1,760 | -2.20% | -11.10% | $2,000 | 0.00% | -9.10% |
| 10 | -1 | Montreal, QC | $1,760 | -2.20% | 0.60% | $2,200 | -3.90% | -3.10% |
| 12 | 0 | Oshawa, ON | $1,700 | -2.30% | -5.60% | $1,970 | -1.50% | -6.20% |
| 13 | 1 | Hamilton, ON | $1,690 | 2.40% | -0.60% | $1,960 | -1.00% | -2.00% |
| 14 | -1 | Calgary, AB | $1,630 | -3.60% | -6.90% | $1,930 | -4.00% | -8.10% |
| 15 | 0 | Abbotsford, BC | $1,590 | -1.20% | -0.60% | $2,060 | -1.90% | 4.00% |
| 15 | 1 | London, ON | $1,590 | -0.60% | -8.10% | $1,950 | 0.00% | -10.10% |
| 17 | 0 | St.Catharines, ON | $1,510 | 0.70% | -7.90% | $1,880 | 3.30% | -3.60% |
| 18 | 1 | Windsor, ON | $1,400 | -0.70% | -2.10% | $1,580 | -3.70% | -4.20% |
| 19 | 3 | Saskatoon, SK | $1,370 | 4.60% | 8.70% | $1,570 | -1.30% | 7.50% |
| 20 | -2 | Winnipeg, MB | $1,360 | -5.60% | -3.50% | $1,710 | -3.90% | -5.00% |
| 21 | -1 | Quebec, QC | $1,340 | -4.30% | -10.10% | $1,620 | -5.80% | -7.40% |
| 22 | -1 | Edmonton, AB | $1,310 | -5.10% | -9.00% | $1,630 | -4.10% | -7.40% |
| 23 | -1 | Regina, SK | $1,290 | -1.50% | 1.60% | $1,520 | -3.20% | 4.80% |
About
The Zumper Canadian Rent Report analyzes rental data from 50k+ active listings across the country. Listings are then aggregated on a monthly basis to calculate median asking rents for the top 23 most populous metro areas, providing a comprehensive view of the current state of the market. The report is based on all data available in the month prior to publication. Any data that is reported does not include short term listings. View our full methodology here.
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