Canada’s rental market is slowly turning a corner, but with more consistency than at any point in the past year and a half. National asking rents ticked up in April for both one and two-bedroom units simultaneously for the first time since September 2025, and the annual pace of decline decelerated for the fifth consecutive month. The correction that defined Canada’s rental landscape through 2025 is not over, but the data increasingly suggests it is bottoming out. Beneath the national headline, the regional divide continues to sharpen: Ontario is still absorbing the heaviest losses, B.C. is softening further, and Québec and the Prairies are outperforming with consistent growth.
A Milestone Month for The National Rent Index
Canada’s national rent index showed one-bedrooms rising 0.2% month-over-month in April to $1,782, while two-bedrooms gained 0.3% to $2,210. On an annual basis, one-bedrooms are down 2.9% year-over-year and two-bedrooms are down 1.7%. Both annual figures mark further deceleration from the all-time lows of -5.0% and -5.3% reached in November 2025.
Two data points stand out this month. First, this marks the fifth consecutive month of decelerating annual declines, signaling a sustained trend. Second, it is the first time since September 2025 that both one and two-bedroom rents increased month-over-month at the same time. That synchronized monthly gain is a small but notable signal that seasonal demand and a gradually stabilizing supply picture may be beginning to reassert themselves.
For renters, April’s numbers still represent a favorable environment: rents are cheaper than a year ago in most major markets, and landlord incentives remain common. For property owners, the synchronized monthly gain is the most encouraging signal in months.
Movement in the Top 10 Cities
Canada’s most expensive rental markets remain dominated by B.C. and Ontario, but April’s data brought some reshuffling with a new entrant to the top five.
Victoria enters the top 5. Victoria climbed one spot to #5 despite posting monthly declines across both bedroom types, benefiting from relative positioning as Kingston slipped.
Kingston drops two spots to #7. Last month’s standout market pulled back in April, with one-bedroom rents falling 6% month-over-month.
Kitchener ties for #10, up two spots. The Waterloo Region city climbed two positions in April, tying Kelowna at $1,700 for one-bedrooms.
Biggest Climbers: Cities with the Strongest Annual One-Bedroom Rent Growth
- Kingston, ON +9.2%
2. Montréal, QC +8.7%
3. Québec City, QC +5.9%
These three markets posted the strongest annual rent growth in the country this month, offering a clear signal about where renter demand has remained resilient despite Canada’s broader rental market cooling. Kingston and Montréal have consistently ranked among the nation’s top-performing rental markets for several months. In Kingston, rent growth continues to be fueled by a chronic shortage of student housing tied to demand from Queen’s University and St. Lawrence College. Meanwhile, Montréal and Québec City topping the growth charts together highlights Québec’s broader structural resilience. The province’s economy has been comparatively insulated from the notable slowdown in immigration-driven rental demand, while steady interprovincial migration from Ontario and British Columbia has helped support a renter base that is less reliant on international newcomers.
Biggest Declines: Cities Feeling the Most Downward Pressure
- Oshawa, ON -11.6%
2. Victoria, BC -9.7%
3. Kelowna, BC -9.6%
These three cities recorded the sharpest annual rent declines in the nation, spanning both Ontario’s commuter belt and British Columbia’s coastal and interior regions. Oshawa posted the steepest drop nationally as affordability pressures and softer renter demand weighed on the market. In British Columbia, Victoria and Kelowna saw the province’s largest annual declines. This softening reflects a market adjusting to a wave of new housing supply at the same time population growth has cooled following the province’s slowdown in international migration throughout 2025.
Regional Snapshot
British Columbia: All B.C. markets posted annual declines across both one and two-bedroom rents. CMHC projects Vancouver housing starts will continue trending down as high construction costs and weakening demand weigh on new condo activity, even as completed rental units from the past four years continue to enter the market. It seems the province’s rental slowdown has further to go.
Ontario: This province remains the epicenter of Canada’s rental correction. TD Economics forecasts that Ontario housing starts will fall again in 2026, with Barrie, Oshawa, and other GTA-adjacent markets experiencing some of the largest percentage declines in starts since 2023. This signals that near-term new supply additions will slow, potentially supporting a floor for rents in those markets.
Québec: Montréal and Québec City are the two strongest drivers in the country this month on annual growth. The province’s purpose-built rental pipeline remains the most active in Canada relative to its size, yet demand has absorbed new supply without the oversupply conditions seen elsewhere.
Prairies: The Prairies continue to be the most resilient major regional rental market in Canada. Regina and Winnipeg both posted monthly and annual gains in April. Saskatoon remains in positive annual territory and Calgary showed early signs of stabilization after months of softness.
Atlantic Canada: Nova Scotia has benefited from strong interprovincial migration out of Ontario and British Columbia in recent years but even that demand tailwind has not fully shielded the region from Canada’s broader rental market cooling as Halifax rents are down 2%-5% annually.
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 | $2,370 | -1.30% | -6.00% | $3,330 | -1.20% | -3.50% |
| 2 | 0 | Burnaby, BC | $2,200 | 0.00% | -4.30% | $2,700 | -3.60% | -6.90% |
| 3 | 0 | Toronto, ON | $2,100 | -0.50% | -8.30% | $2,700 | 0.00% | -5.60% |
| 4 | 0 | Halifax, NS | $2,000 | -2.40% | -4.80% | $2,500 | 0.00% | -2.00% |
| 5 | 1 | Victoria, BC | $1,950 | -1.50% | -9.70% | $2,570 | -0.40% | -10.80% |
| 6 | 1 | Ottawa, ON | $1,930 | -1.00% | -2.50% | $2,430 | -0.80% | -2.80% |
| 7 | -2 | Kingston, ON | $1,890 | -6.00% | 9.20% | $2,450 | -0.80% | 30.30% |
| 8 | 0 | Montreal, QC | $1,870 | 3.90% | 8.70% | $2,390 | 4.80% | 8.60% |
| 9 | 0 | Barrie, ON | $1,760 | 0.60% | -3.30% | $2,000 | 0.00% | -1.00% |
| 10 | -1 | Kelowna, BC | $1,700 | -2.90% | -9.60% | $2,150 | 2.40% | -6.10% |
| 10 | 2 | Kitchener, ON | $1,700 | -0.60% | -3.40% | $1,980 | -1.00% | -5.70% |
| 12 | 2 | Oshawa, ON | $1,680 | 0.60% | -11.60% | $1,960 | -2.00% | -7.50% |
| 13 | 0 | London, ON | $1,670 | -0.60% | -1.20% | $2,100 | -0.50% | 2.40% |
| 14 | -3 | Hamilton, ON | $1,630 | -5.80% | -9.40% | $2,100 | 1.40% | 0.00% |
| 15 | 0 | Calgary, AB | $1,620 | 1.30% | -1.80% | $1,970 | 4.80% | -1.00% |
| 16 | 0 | Abbotsford, BC | $1,550 | -1.90% | -6.10% | $1,960 | -2.00% | -2.00% |
| 17 | 0 | St.Catharines, ON | $1,480 | -5.70% | -6.90% | $1,830 | 0.00% | -4.20% |
| 18 | 0 | Winnipeg, MB | $1,450 | 2.80% | 2.80% | $1,750 | 2.30% | 3.60% |
| 19 | 0 | Quebec, QC | $1,430 | 5.90% | 5.90% | $1,740 | 4.20% | 3.00% |
| 20 | -1 | Windsor, ON | $1,350 | 0.00% | -4.30% | $1,620 | -0.60% | -4.70% |
| 21 | -2 | Saskatoon, SK | $1,310 | -3.00% | 1.60% | $1,560 | -2.50% | 3.30% |
| 22 | 0 | Regina, SK | $1,280 | 3.20% | 3.20% | $1,530 | 4.10% | 5.50% |
| 23 | -1 | Edmonton, AB | $1,250 | 0.80% | -3.80% | $1,600 | 0.00% | 0.60% |
About
The Zumper Canadian Rent Report analyzes rental data from hundreds of thousands of 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.
To keep up to date with the latest rent trends or company news, like or follow Zumper on Facebook, X, and Instagram. In the market for a new place? Search apartments for rent on Zumper.
Related content
