Market update March 2026: Renters have the upper hand

Continued declines in rent prices is providing renters with a mild competitive edge.

• Rentals.ca reports the national average asking rent declined for the 16th straight month in January to its lowest level in two and a half years, to $2,057.

• The average asking rent in Ontario stayed virtually flat month over month, from $2,277 in December to $2,275 in January.

• Due to softening overall rent prices, rental affordability is at its healthiest in years: the rent-to-income ratio now sits at 29.5%, its lowest level in six years and below the 30% industry benchmark.

• Renters may have the edge today, but signs of a national housing squeeze to match that in Ontario could soon tip the balance back to landlords. Read our full analysis on landlord sentiment to see what’s ahead.

• Meanwhile, the Canadian Real Estate Association (CREA) reports an average national home price of $652,941 in January – down 3% from December and 2.6% year over year.

• No surprises in Ontario, which continues to have among the highest average home prices in the country (second only to British Columbia) at $778,102 – down 2.8% from last month’s average.

• According to CREA, home sales declined 5.8% from December to January.

• The Canada Mortgage and Housing Corporation reports the six-month trend in housing starts decreased 3.5% from December to 254,794 units in January.

More housing market headlines

The rise of lifelong renters in Canada – PayProp blog

Build Canada Homes announces what to expect in the year ahead – Storeys

Why housing starts are sizzling in Alberta, while they fizzle in Ontario – MSN