Alberta leads rent decline as prices coming down across Canada

By MEDICINE HAT NEWS on September 12, 2025.

newsdesk@medicinehatnews.com

According to the latest National Rent Report from Rentals.ca and Urbanation, the cost of rent for residential properties in Canada has declined for the 11th consecutive month.

The average asking rent fell 2.3% year-over-year in August to $2,137.

Alberta led Canadian provinces in annual rent declines for apartments, with a decline of 3.5%. The next sharpest declines belonged to British Columbia, where annual rent costs fell 2.7%, and Ontario, where it fell 2.5%.

“Rents have decreased in Canada on an annual basis for almost a year now. However, reductions have been mild for the most part, with the steepest declines found in Vancouver, Toronto, and Calgary, where rents are high and new apartment supply has been growing quickly,” said Shaun Hildebrand, President of Urbanation.

“Conditions should continue to favour renters in the coming months as the market enters its slower season.”

Despite the drop, average asking rents in the country remained 1.0% higher than they were two years ago.

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