What Is the Average Rent in Canada?

Understanding rental market dynamics is important for those seeking housing, relocating, or analyzing the economy. Rental costs are influenced by supply, demand, and economic conditions, making “average rent” a dynamic figure. These averages provide insight into housing affordability and market trends.

What is the Average Rent in Canada?

The average rent in Canada has seen consistent increases, reflecting a tightening rental market. In January 2024, the average cost of renting homes nationwide reached approximately $2,196, a 10% increase from the previous year. Other reports show similar figures, such as $2,193 per month in February 2024. These national figures encompass various unit types, including apartments, condominiums, and houses.

A national average can mask significant variations depending on the specific unit type. For instance, the Canada Mortgage and Housing Corporation (CMHC) reported the average rent for a two-bedroom apartment was $1,447 per month in 2024. Rental prices have generally been on an upward trajectory, with a 22% increase in the last two years, equating to an average monthly rise of $390. While some areas show signs of a cooling market, the general trend indicates continued pressure on rental costs nationwide.

Key Factors Influencing Rent Prices

Several factors influence Canadian rent prices. A fundamental driver is the imbalance between housing supply and demand, where population growth, particularly from immigration, often outpaces new rental unit construction. This creates a competitive environment, allowing landlords to command higher rents due to limited availability. Local economic conditions also play a significant role, as strong job markets and economic growth correlate with increased rental demand and higher prices.

Interest rates and inflation further influence rental costs. Higher interest rates can make homeownership less accessible, pushing more individuals into the rental market and increasing demand. Inflationary pressures also raise landlords’ operating costs, which can be passed on to tenants through rent increases. Beyond these broad economic forces, specific property characteristics such as location, unit type, size, and amenities directly impact rental values. Properties in desirable neighborhoods with access to public transportation, schools, and services command higher rents. Different unit types, like studios, one-bedroom, or two-bedroom apartments, have different price points, with larger units being more expensive.

Regional Rent Variations Across Canada

Canada’s vast geography and diverse economic landscapes result in significant regional differences in rental prices, making a national average a broad generalization. Major urban centers consistently exhibit higher rental costs compared to smaller cities or rural areas. For instance, Vancouver and Toronto frequently rank as the most expensive rental markets in the country.

In Vancouver, the average rent for a one-bedroom unfurnished unit was around $2,297 in December 2024. Other reports for Vancouver indicated average monthly rents of approximately $2,200 for studios, $2,750 for one-bedroom, and $4,050 for two-bedroom units in July 2024. Toronto also maintains high rental costs, with the average monthly rent for an unfurnished one-bedroom unit around $2,161 in December 2024, and an overall average for all property types reaching $2,588 in August 2025.

Montreal presents a more moderate rental market compared to its larger counterparts. The average rent for a one-bedroom unfurnished unit was $1,731 in December 2024, with an overall average of approximately $1,800 as of August 2025. In Calgary, the average monthly rent for an unfurnished one-bedroom unit was about $1,613 in December 2024, and the overall median rent was $1,867 in August 2025.

Halifax has also experienced notable rent increases, with the average monthly apartment rent at $1,636 in 2024 and one-bedroom units averaging around $1,925 in June 2024. These examples highlight the wide disparity across Canadian cities, underscoring why local market research is important for renters.

How Rent Data is Collected and Reported

Information on average rent in Canada comes from various sources, each employing different methodologies to compile their data. The Canada Mortgage and Housing Corporation (CMHC) is a prominent source, conducting annual surveys to collect data on vacancy rates, available units, and average rents in both primary and secondary rental markets. Their process involves methods such as telephone calls, site visits, and information gathered directly from property owners. CMHC also distinguishes between “in-place rents,” which refer to rents for existing tenants, and “asking rents,” which are the prices advertised for new listings.

Private rental listing platforms and real estate analytics firms also contribute significantly to reported rent averages. Companies such as Rentals.ca, Zumper, and liv.rent aggregate data from hundreds of thousands of active listings. These reports reflect “asking rents” for units currently on the market, which can differ from the actual rents paid by long-term tenants. Statistics Canada, often in collaboration with CMHC, also provides rent statistics, including experimental estimates on asking rents from major rental platforms. Consulting multiple, recent sources is advisable for the most current and localized rent information, as market conditions can change rapidly.