Market update Nov 2025: Rent prices hold steady
As industry experts predicted, the decline in non-permanent residents and a softening job market have continued to weigh on rent prices.
Affordability continues to dominate the conversation, with renters pointing to high rents, relatively low incomes, and financially-driven moves
But beyond cost pressures, the survey sheds light on who today’s renters are and what they’re looking for.
Singles make up the majority of renters at 42%, followed by couples without children at 26%, which helps explain why one- and two-bedroom units (38% and 35%) are most in demand.
Apartments remain the preferred property type at 52%, especially among single renters. Three-bedroom demand (14%) is concentrated among older, family-age renters.
The smallest segment – just 9% of respondents – are first-time renters. Typically younger and moving for work or school, they also tend to budget slightly higher than most respondents – often in the $1,500–$1,999 range – because today’s prices are all they’ve really known.
When it comes to amenities, in-unit laundry has effectively moved from perk to expectation, with 67% of renters willing to pay more for it. Air conditioning, outdoor space, and parking follow closely behind.
Free utilities remain the most appealing move-in incentive (43%), though nearly 20% of renters say they aren’t influenced by incentives at all.
AI has officially entered the search process: 29% of renters now use AI tools like ChatGPT in their search, with most reporting a positive experience. AI adoption is highest in major markets like Toronto.
For property managers, that means building listings around how renters actually search: making properties easy to find, descriptions easy to understand, and features selected based on providing genuine value.
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