Great news for renters and investors alike: Canada’s rental market is shifting in your favor! According to the latest Rentals.ca report, average rental prices for 1- and 2-bedroom apartments across major Canadian cities have seen notable declines, meaning you can secure your ideal home for less—or make a smarter investment move right now.
Vancouver may lead at $2,522 for a 1-bedroom and $3,443 for a 2-bedroom, but the city’s year-over-year decreases of 6.0% and 4.1% signal a cooling market—your chance to lock in a better deal. Toronto follows at $2,353 (1-bed) and $3,063 (2-bed), with even steeper drops of 6.3% and 8.0%, giving you more negotiating power in Canada’s largest rental hub. Cities like Burnaby, BC, and Oakville, ON, also show significant annual declines, with Burnaby’s 2-bedroom rents down 9.1% to $3,009 and Oakville’s 1-bedroom rents falling 7.6% to $2,295.
For budget-conscious renters, cities like Barrie, ON ($2,020 for 1-bed, down 4.4% year-over-year), Waterloo, ON ($2,020 for 1-bed, up only 1.2%), and Halifax, NS ($2,008 for 1-bed, up 2.8%) offer affordability without sacrificing urban access. Meanwhile, Oakville, ON, stands out for investors with a 16.9% month-over-month surge in 2-bedroom rents to $3,194, hinting at strong demand and potential returns.
“This data is your roadmap to savings and opportunity,” said a Rentals.ca spokesperson. “Whether you’re renting in Brampton ($2,121 for 1-bed, down 3.1% annually) or eyeing an investment in Guelph ($2,056 for 1-bed, up 3.9% year-over-year), these trends help you make informed choices. You’re in the driver’s seat to find a home that fits your budget or a property that boosts your portfolio.”
Ready to act? Visit Rentals.ca to explore listings in these cities and more. With rental prices trending downward in key markets, you can save big, live better, and invest smarter—starting today.