At the top, Vancouver’s rent deceleration continued, with one-bedroom prices dropping to $2,500—the lowest level since January 2023, marking an over two-year low. Toronto also saw a notable shift, posting the third-largest annual rent decline nationwide and the largest among Canada’s top 10 cities.
The era of double-digit annual rent increases seen in the last few years appears to be over. The highest annual growth now comes from Saskatoon at just 5.7%, while rent drops were noticeably more pronounced, with Calgary leading the way, down 9.8% year-over-year.
National rates fall both monthly and annually for the 6th consecutive month
The Zumper National Rent Index showed that the Canadian median one-bedroom rent dropped 0.8% in March to $1,835, while two-bedrooms decreased 0.9% to $2,265. On an annual basis, one and two-bedroom rents were down 2.9% and 3%, respectively.
This report’s Canadian national rent index declined both month-over-month and year-over-year for the sixth consecutive month, signaling a broader cooling across the rental market. This sustained slowdown can be attributed to a combination of factors, including increased supply in some markets, shifting migration patterns, and affordability constraints that have pushed renters to seek more cost-effective options or delay moves altogether. Additionally, economic uncertainty may be tempering demand, as some potential renters may opt to stay in their current units longer rather than potentially face costs related to finding new housing.
Top 5 Markets
- Vancouver, BC continued to rank as the most expensive city, though one-bedroom rent fell 1.6% to $2,500, while two-bedrooms dropped 1.1% to $3,450.
2. Burnaby, BC & Toronto, ON tied for second with rents both priced at $2,300.
4. Victoria, BC remained the fourth most expensive market with one-bedroom rent increasing a slight 0.5% to $2,070.
5. Halifax, NS rounded out the top five cities with one-bedroom rent dipping 2.4% to $2,010.
Cities with the Highest Annual Growth in One-Bedroom Rent Rates
–Saskatoon, SK had the fastest growing annual rent, up 5.7%.
–Barrie, ON & Regina, SK rents tied for the second largest, both up 5.1%.
–Winnipeg, MB ranked as third with rent climbing 3.7%.
Cities with The Largest Annual Decline in One-Bedroom Rent Rates
–Calgary, AB rent experienced the largest annual dip in the nation, falling 9.8%.
–Kingston, ON was second with rent declining 7.9%.
–Toronto, ON saw rent decrease 6.1%, making it third.
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 | $2,500 | -1.60% | -5.70% | $3,450 | -1.10% | -9.00% |
| 2 | 0 | Burnaby, BC | $2,300 | -3.00% | -5.70% | $2,990 | -0.30% | -4.20% |
| 2 | 1 | Toronto, ON | $2,300 | -0.40% | -6.10% | $2,900 | -2.70% | -8.50% |
| 4 | 0 | Victoria, BC | $2,070 | 0.50% | -0.50% | $2,750 | 0.00% | 5.00% |
| 5 | -1 | Halifax, NS | $2,010 | -2.40% | 0.50% | $2,450 | 2.10% | -5.80% |
| 6 | 0 | Ottawa, ON | $1,980 | 0.50% | 1.50% | $2,480 | 3.30% | 3.30% |
| 7 | 0 | Barrie, ON | $1,850 | -5.10% | 5.10% | $2,020 | -6.00% | -10.60% |
| 7 | 1 | Kelowna, BC | $1,850 | -4.10% | -2.10% | $2,250 | 0.90% | -2.20% |
| 9 | 0 | Oshawa, ON | $1,820 | 1.70% | 0.00% | $2,130 | -1.80% | -2.30% |
| 10 | -1 | Kitchener, ON | $1,790 | 0.00% | -5.80% | $2,100 | 0.00% | -11.40% |
| 11 | 0 | Kingston, ON | $1,760 | 1.70% | -7.90% | $1,880 | 0.00% | -15.30% |
| 12 | 0 | Montreal, QC | $1,720 | 1.80% | -1.70% | $2,190 | -0.50% | -0.50% |
| 13 | 1 | Hamilton, ON | $1,700 | 3.00% | -1.20% | $1,980 | -0.50% | -5.70% |
| 13 | 0 | London, ON | $1,700 | 1.20% | -3.40% | $2,070 | 2.00% | -1.40% |
| 15 | -1 | Calgary, AB | $1,650 | 0.00% | -9.80% | $1,990 | -0.50% | -5.20% |
| 16 | 1 | St.Catharines, ON | $1,590 | -1.90% | -0.60% | $1,920 | 0.50% | 4.30% |
| 17 | -3 | Abbotsford, BC | $1,580 | -4.20% | 1.90% | $1,900 | 0.00% | -4.00% |
| 18 | 0 | Winnipeg, MB | $1,400 | -0.70% | 3.70% | $1,650 | -1.20% | -2.90% |
| 18 | 1 | Windsor, ON | $1,400 | 0.00% | 0.70% | $1,650 | 0.00% | -2.40% |
| 20 | 0 | Quebec, QC | $1,310 | -5.80% | -5.80% | $1,650 | -5.70% | 0.60% |
| 21 | 1 | Saskatoon, SK | $1,300 | 3.20% | 5.70% | $1,500 | 0.00% | 1.40% |
| 21 | 0 | Edmonton, AB | $1,300 | 0.00% | -1.50% | $1,600 | 0.00% | 0.60% |
| 23 | 0 | Regina, SK | $1,240 | 0.00% | 5.10% | $1,460 | 0.70% | 2.80% |
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.
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