Early 2026 avg asking rent: 1-bedroom $2,183; 2-bedroom $2,801, the city’s lowest averages in 4 years.
Canada’s avg asking rent fell 16 straight months to $2,057, a 31-month low.
Experts cite more condo supply: newly completed projects and investors renting pre-construction units instead of selling.
Tenants gaining leverage: lower rates, 1 month free rent, utilities or internet included, and more flexible leases.
No immediate rebound expected, creating rare negotiating power for renters.