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Canada  + Apartments  |  June 12, 2025
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By: Monte Stewart

Multi-Family Rents Decline 3.3% YoY from Record High  

Residential rents across Canada fell 3.3% year-over-year in May from a record high according to the latest National Rent Report from Rentals.ca and Urbanation.

But rents remained 5.7% higher than two years ago and 12.6% those posted three years ago.

Although average asking rents have risen 4.1% annually over the past five years, the showing indicates that rental affordability has worsened since the COVID-19 pandemic.

Rentals.ca and Urbanation are related entities.

Photo: Rentals.ca

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Rentals.caUrbanation

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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