Is rent going down in Canada in 2026?

Yes, average rent in Canada has shown a downward trend in 2026.

According to data from Rentals.ca and Urbanation released in May 2026, the average rent across Canada fell by 5% in April 2026. This decline has brought average rental rates back down to levels last seen three years ago.

Key Details to Consider:

• Market Variances: While the national average has decreased, trends vary significantly by province and city. Major metropolitan areas may not feel the decline as sharply as other regions.
• Future Supply Risks: Despite the current dip in rent, the Canada Mortgage and Housing Corporation (CMHC) projects that housing starts—particularly in Ontario—will fall to near two-decade lows in 2026 due to slow condominium pre-construction sales. This slowdown in new construction could limit rental supply and impact rates in the future.