Canadian Rental Market Update: September 2026 Asking Rents Fall 4.2%

Canada’s average asking rent fell to $2,034 per month in September 2026, down 4.2% from a year earlier. It was the 24th consecutive month of annual declines, according to the Rentals.ca–Urbanation report released October 7.

The monthly change was much smaller: just $1 below August’s average of $2,035. Advertised rents remained below last year’s levels, but the national average was essentially unchanged heading into autumn.

The National Rental Snapshot

National rental indicator	September 2026
Average monthly asking rent	$2,034
Year-over-year change	−4.2%
Change from August	−$1
Consecutive months of annual declines	24

These figures measure advertised asking rents across residential property types. They do not represent what every existing tenant pays or the cost of a particular home.

Provincial Conditions Remained Uneven

Ontario recorded the largest annual decline among the provinces listed below. British Columbia, Manitoba, Alberta and Quebec also saw decreases, while Nova Scotia and Saskatchewan recorded increases.

Province	Annual change in average asking rent
Ontario	−4.8%
Manitoba	−3.2%
British Columbia	−2.9%
Alberta	−2.6%
Quebec	−1.7%
Nova Scotia	+1.4%
Saskatchewan	+1.4%

For households comparing destinations, these differences matter. A softer national market does not mean rents are falling in every community.

Condominium Rents Recorded the Steepest Decline

Condominium apartment asking rents fell 7.8% annually, compared with a 2.7% decline for purpose-built rental apartments. Other secondary-market rentals, including houses and townhomes, declined 7.4%.

Rental category	Average monthly asking rent	Annual change
Purpose-built rental apartments	$2,036	−2.7%
Condominium apartments	$2,052	−7.8%
Other secondary-market rentals, including houses and townhomes	$2,016	−7.4%

Each category includes different locations and unit sizes. The averages show market direction; they do not establish that comparable condos, apartments and houses cost roughly the same.

What This Means for Housing and Relocation Planning

Lower advertised rents may create opportunities for households preparing to move. The practical question is whether suitable homes are available within the budget, location and timing the household needs.

For a relocating employee, that means looking beyond the advertised monthly rent:

• Work destination: Is the commute practical for the employee’s actual schedule?

• Total housing cost: What do parking, utilities, internet and transportation add?

• Household requirements: Does the home accommodate children, pets, accessibility needs or other priorities?

• Move-in timing: Will the lease begin when needed, or will temporary accommodation be necessary?

A less expensive unit can lose its advantage if it creates a costly commute or an extended temporary stay.

AHOM’s Perspective

September’s figures provide a useful benchmark for reviewing housing budgets. They also reinforce why relocation planning needs to connect the home, the workplace and everyday life.

At AHOM, we use market information to guide housing research around the household’s requirements and the employee’s work destination. The goal is to identify options that fit the move—and remain practical after arrival.

Source: Rentals.ca–Urbanation October 2026 National Rent Report, published October 7, 2026, reporting September asking rents. Figures reflect advertised rental prices rather than rents paid by all existing tenants.