Canadian Asking Rents for Two-Bedroom Apartments Fall 3.6% in Q2 2026
The average asking rent for a two-bedroom apartment across Canadian census metropolitan areas dropped to $2,130 per month in the second quarter of 2026, a 3.6% year-over-year decline. While major cities like Vancouver and Calgary saw decreases, markets such as Thunder Bay and Halifax recorded increases. New data also compares asking rents with what tenants actually pay.
The average asking rent for a two-bedroom apartment across all Canadian census metropolitan areas (CMAs) combined was $2,130 per month in the second quarter of 2026, representing a 3.6% decrease compared to the same period in 2025.
Vancouver recorded the highest average monthly asking rent at $3,030, followed by Toronto at $2,650, Victoria at $2,640, and Halifax at $2,400. Despite these high price points, several major markets experienced year-over-year declines. Abbotsford–Mission and Calgary both posted decreases of 6.4%, Montréal fell 5.2%, and Vancouver dropped 4.1%.
Conversely, other CMAs saw asking rents climb over the same period. Thunder Bay led the increases at 6.5%, followed by Sherbrooke at 5.7%, Halifax at 5.3%, and Saskatoon at 5.2%.
For the first time, paid rent estimates derived from the Labour Force Survey were made available for 18 CMAs for the second quarter of 2026. The data showed that average monthly paid rent for a two-bedroom apartment was highest in Vancouver at $2,470 and Toronto at $2,160. In most markets, asking rents exceeded paid rents, reflecting the influence of existing lease agreements and provincial price controls.
Notable exceptions emerged in Alberta and Saskatchewan. In Calgary, the average asking rent of $1,890 was lower than the average paid rent of $1,930. A similar pattern appeared in Regina, where the asking rent of $1,480 trailed the paid rent of $1,580. In Edmonton, both the asking and paid rents stood at $1,570.
The Quarterly Rent Statistics program producing these figures is conducted in collaboration with the Canada Mortgage and Housing Corporation.