Average asking rent sinks to lowest June figure in four years
At the provincial level, British Columbia and Ontario led the national retreat, each posting a 5.3% year-over-year decline to average asking rents of $2,377 and $2,233, respectively.
Alberta fell 4.2% to $1,766, while Quebec saw a 2.2% drop to $1,929. The sole regional exception was Atlantic Canada, where average asking prices rose 5.3% to $2,271.
Manitoba and Saskatchewan each posted a 0.8% month-over-month increase, reaching average asks of $1,673 and $1,458, respectively.
Affordability challenges remain and will take time to address
The broader supply picture helps explain why asking rent declines have not translated into a felt improvement. A CMHC mid-year rental market update released in June 2026 found that vacancy increases are concentrated in newer, more expensive buildings, with older stabilised stock and family-sized units remaining tight.
