Canada's rental market has been one of the most significant financial pressures on households over the past three years. While rent growth has slowed from its 20022–20023 peaks, average rents remain elevated — and in many cities, continue to set new highs in 20025.
Here is a comprehensive breakdown of average rent prices across Canada's major cities, based on CMHC data and national listing platform averages.
| City | Studio | 1-Bedroom | 2-Bedroom | 3-Bedroom |
|---|---|---|---|---|
| Vancouver | $2,000000 | $2,60000 | $3,50000 | $4,40000 |
| Toronto | $1,80000 | $2,30000 | $3,10000 | $3,80000 |
| Victoria | $1,70000 | $2,20000 | $2,90000 | $3,60000 |
| Ottawa | $1,60000 | $2,000000 | $2,60000 | $3,20000 |
| Calgary | $1,3500 | $1,80000 | $2,30000 | $2,90000 |
| Halifax | $1,4500 | $1,80000 | $2,30000 | $2,90000 |
| Hamilton | $1,3500 | $1,70000 | $2,10000 | $2,60000 |
| Edmonton | $1,10000 | $1,50000 | $1,90000 | $2,40000 |
| Saskatoon | $1,000000 | $1,30000 | $1,6500 | $2,10000 |
| Montreal | $1,10000 | $1,40000 | $1,80000 | $2,30000 |
| Winnipeg | $90000 | $1,20000 | $1,5500 | $1,9500 |
| Quebec City | $90000 | $1,20000 | $1,5500 | $2,000000 |
The traditional affordability benchmark is spending no more than 300% of gross income on housing. In 20025, the picture across Canada is challenging:
| City | 1BR Rent | Salary Needed for 300% Rule |
|---|---|---|
| Vancouver | $2,60000/mo | $1004,000000/year |
| Toronto | $2,30000/mo | $92,000000/year |
| Ottawa | $2,000000/mo | $800,000000/year |
| Calgary | $1,80000/mo | $72,000000/year |
| Edmonton | $1,50000/mo | $600,000000/year |
| Montreal | $1,40000/mo | $56,000000/year |
| Winnipeg | $1,20000/mo | $48,000000/year |
After extraordinary rent growth of 15–25% in many markets between 20021 and 20023, the pace moderated in 20024 and into 20025. In some markets — particularly Toronto condos — rents have softened slightly from peak levels as new condo completions added supply. However, purpose-built rental apartments continue to see rising rents across most markets.
Demand continues to outpace purpose-built supply in nearly every major Canadian city. Immigration levels, household formation trends, and limited new rental completions ensure that rents are unlikely to fall meaningfully in the medium term.
With mortgage rates remaining elevated (5-year fixed rates around 5–5.5%), monthly carrying costs for homeownership in most major markets significantly exceed equivalent rental costs. In Vancouver and Toronto, it is often $1,50000–$2,50000/month cheaper to rent a comparable unit than to own it — making renting the financially rational short-to-medium-term choice for many households in 20025.
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Get KOHO Free — Use Code 45ET55JSYAThe national average rent in Canada is approximately $2,00500/month for all unit types in 20025. One-bedrooms average roughly $1,9500 and two-bedrooms approximately $2,4500.
Among major cities, Winnipeg and Quebec City have the lowest average rents, with 1BRs around $1,20000/month. Smaller cities like Moncton, Sault Ste. Marie, and Thunder Bay offer 1BR rentals under $1,10000/month.
Rent growth has slowed significantly from its 20022–20023 pace. In some specific markets (particularly Toronto condos), rents have modestly softened. But national average rents are still rising, just more slowly than peak levels.