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. However, a deeper reading suggests it's more of a stabilization.

• Rentals.ca reports the national average asking rent dipped slightly from $2,137 in August to $2,123 in September. But as rents have had to adjust from the highs of the past two years, Rentals.ca thinks this monthly change should be viewed as a sign of “stability” not a dip.

• Ontario, the second-highest-priced province, recorded a 0.7% rent decrease to an average of $2,353.

• All six of Canada’s largest cities saw annual apartment rents decline in September. In Toronto, rents fell 2.9% year-over-year to an average of $2,592, the smallest decline recorded in the past 16 months.

• Meanwhile, the Canadian Real Estate Association (CREA) reports an average national home price of $676,154 in September – up 1.8% from August and 1% year over year.

• Ontario continues to have among the highest average home prices in the country (second only to British Columbia) at $828,896 – up 3% from last month’s average.

• According to CREA, home sales were down 1.7% from August to September.

• Alberta and Quebec joined PEI as balanced markets, based on sales-to-new-listings ratios, while Ontario saw a modest rebound after a quiet summer, moving the province back into buyer’s territory. Four provinces remain seller’s markets.

• The Canada Mortgage and Housing Corporation reports the six-month trend in housing starts increased 4.1% from August to 277,147 in September.

More rental market headlines

An update on the iPro Realty scandal – PayProp blog

Gen Z and Millennials increasingly rely on family for expenses – Wealth Professional

What will renters pay more for? Apartments that offer human connections – RENX