Vancouver was the most expensive Canadian city for one-bedroom apartment rentals, with a median rent of about 2,348 Canadian dollars in January 2024. Toronto followed behind with a median rent of 2,048 Canadian dollars.

This table contains data described by the following dimensions (Not all combinations are available): Geography (247 items: Carbonear; Newfoundland and Labrador; Corner Brook; Newfoundland and Labrador; Grand Falls-Windsor; Newfoundland and Labrador; Gander; Newfoundland and Labrador ...), Type of structure (4 items: Apartment structures of three units and over; Apartment structures of six units and over; Row and apartment structures of three units and over; Row structures of three units and over ...), Type of unit (4 items: Two bedroom units; Three bedroom units; One bedroom units; Bachelor units ...).

Vancouver, Toronto, and Mississauga were the most expensive cities to rent a two-bedroom apartment in Canada in January 2024. In all three cities, the average two-bedroom rent exceeded 2,700 Canadian dollars and in Vancouver, it was as high as 3,831 Canadian dollars per month.

Residential rental rates by municipality, year, and type of unit (bachelor suites, one-bedroom, two-bedroom and three-bedroom units) in non-subsidized rental buildings that have three or more rental units.

The rental price index in Canada increased by 3.1 index points (+2.5%) since the previous quarter. Therefore, the index reached a peak in the fourth quarter of 2023 with 124.9 index points.The rent paid on average by households in a certain territory. These figures are seasonally adjusted, which means that the effect of seasonal variations was eliminated from the data.

Commercial rents services price index (CRSPI) by North American Industry Classification System (NAICS). Monthly data are available from January 2006 for the total index and from January 2019 for all other indexes. The table presents data for the most recent reference period and the last five periods. The base period for the index is (2019=100).

Price to Rent Ratio in Canada decreased to 134.71 in the first quarter of 2025 from 134.87 in the fourth quarter of 2024. This dataset includes a chart with historical data for Canada Price to Rent Ratio.

The house price to rent ratio in Canada decreased 2023 onwards, after peaking in 2022. In the third quarter of 2024, the index amounted to 134.8 index points, down from 144.1 index points in the third quarter of 2023, when the highest value was recorded. The index tracks the development of house prices relative to rents, with 2015 chosen as a base year with an index value of 2015. This ratio was calculated by dividing median house prices by median annual rents. A ratio of 140 percent means that the gap between median house prices and median annual rents widened by 40 percent since 2015.

Revenue for Canadian apartment lessors has gained through the end of 2025. Apartment lessors collect rental income from rental properties, so market forces largely determine their rates. The supply of apartment rentals has grown slower than demand, which has elevated rental rates for lessors' benefit. Favourable economic conditions and demographic trends during most of the period have driven growth in demand. In 2020, the spread of COVID-19 lessened demand for apartment rentals, but the nature of apartment leases prevented a dip in revenue until 2021. Revenue has climbed since 2022 as higher prices and strong demand have fuelled a robust rental market. Revenue has climbed at a CAGR of 1.7% over the past five years and will reach $67.6 billion through the end of 2025. This includes a 1.6% swell in 2025 alone. Climbing vacancies fueled by a historic increase in rental supply will limit rent growth in 2025. The urban population in Canada has continued to expand, fuelling demand for housing in recent years. The supply of apartment rental units has lagged behind demand growth, reflected in low vacancy rates across Canada. Major urban centres have had especially low vacancy rates in recent years. Disposable income has also grown despite significant economic volatility. This has given individuals more funds to cover living expenses, which has enabled lessors to raise rental rates. Despite skyrocketing rental prices, profit has declined because of rising operating costs and property taxes. Favourable macroeconomic conditions are expected to fuel demand for apartment rentals moving forward. Per capita disposable income will climb while vacancy rates remain low. Furthermore, immigration and urbanization growth will fuel rent growth in major cities, benefiting apartment rental providers. Demand will continue to outpace supply growth, prompting a revenue gain. Revenue will expand at a CAGR of 1.3% through the end of 2030, reaching $71.9 billion in 2030.

Average rents for areas with a population of 10,000 and over

This table contains data described by the following dimensions (Not all combinations are available): Geography (37 items: Census metropolitan areas; Saguenay; Quebec; Calgary; Alberta; Edmonton; Alberta ...).

Average rents for private row houses and apartments in urban centres with 2,500 to 10,000 people. Organized by centre and number of bedrooms to help rental market professionals make informed business decisions. Note: Data in this series is updated every 5 years in advance of each Census year. This table has been updated from January 28, 2021 to now reflect final data.

The average rents for private row houses and apartments in urban centres with 2,500 to 10,000 people. Organized by province and number of bedrooms to help rental market professionals make informed business decisions. Note: Data in this series is updated every 5 years in advance of each Census year. This table has been updated from January 28, 2021 to now reflect final data.

Commercial rents services price index (CRSPI) by North American Industry Classification System (NAICS). Quarterly data are available from the first quarter of 2006 for the total index and from the first quarter of 2019 for all other indexes. The table presents data for the most recent reference period and the last five periods. The base period for the index is (2019=100).

Rent Inflation in Canada decreased to 4.50 percent in May from 5.20 percent in April of 2025. This dataset includes a chart with historical data for Canada Rent Inflation.

The Canada Condominiums and Apartments Market is segmented by city (Toronto, Montreal, Vancouver, Ottawa, Calgary, Hamilton, and other cities). The report offers market size and forecasts in value (USD billion) for all the above segments.

Potential renters, property owners and even property development professionals can gain valuable information from CMHC’s Rental Market Data. It can be used to price properties, stay competitive and even help determine ideal areas to build or rent. These tables offer a detailed statistical overview of Canada’s urban and rural rental markets. They offer housing professionals, researchers and renters detailed rental market data at the national, provincial and local levels. This includes data on vacancy rates, average rents and more for various types of rental housing across Canada.

The summary statistics by North American Industry Classification System (NAICS) which include: operating revenue (dollars x 1,000,000), operating expenses (dollars x 1,000,000), salaries wages and benefits (dollars x 1,000,000), and operating profit margin (by percent), of lessors of residential buildings and dwellings (except social housing projects) (NAICS 531111), annual, for five years of data.

The Canadian condominiums and apartments market, valued at approximately $XX million in 2025, exhibits robust growth potential, driven by a CAGR exceeding 8% from 2025 to 2033. This expansion is fueled by several key factors. Urbanization, particularly in major cities like Toronto, Vancouver, and Montreal, continues to increase demand for housing, pushing up prices and attracting significant investment. Furthermore, a growing millennial population and increasing immigration rates contribute to a surge in housing needs, particularly within the condominium and apartment sectors. Government policies aimed at stimulating housing development, albeit often complex and regionally varied, further influence market dynamics. However, challenges remain. Rising construction costs, material shortages, and potential interest rate fluctuations pose significant restraints on market expansion. The ongoing impact of these factors must be considered when forecasting future market performance. Competition is intense amongst major players such as Onni Group, Concert Properties Ltd, and The Minto Group, necessitating innovative strategies to acquire land, manage construction costs, and attract buyers in a highly dynamic market. Segmentation by city reveals that Toronto, Vancouver, and Montreal are dominant markets, capturing a significant share of the overall value. Differentiation in terms of pricing, amenities, and location significantly affects market share within each city. The forecast period (2025-2033) suggests continued growth, albeit with potential volatility depending on macro-economic conditions and regulatory changes. A key aspect for future growth involves the diversification of housing options to address the needs of diverse population segments, including affordable housing initiatives to combat rising housing costs. The success of developers will hinge on adapting to changing demographics, regulatory landscapes, and evolving consumer preferences. The market's resilience in the face of economic headwinds will be a key determinant of its future trajectory, emphasizing the need for continuous monitoring of external factors and careful strategic planning. Analyzing the performance of individual companies within each city segment allows for a more granular understanding of competitive pressures and market trends. Recent developments include: December 2022: The Equiton Residential Income Fund Trust (The Apartment Fund) acquired a multi-family residential property in Toronto, Ontario. The property was purchased for USD 50 million. The Ravine Park Apartments will include seven stories, 169 units, and 183 combined indoor and outdoor parking spaces. It's close to public transportation, directly across the street from the upcoming Eglinton LRT Ionview Station, within walking distance of the Kennedy Subway and GO stations, and various amenities., October 2022: Rentsync and Urbanation collaborated to create a comprehensive market data platform for rental housing properties in Canada. The two companies were discussing a partnership for over a year. Urbanation and Rentsync will publish monthly reports that aggregate and analyze rental data across all market segments. They will include data-driven information on overall rents, rents by unit type, rents per sq ft, availability, turnover rates, and more.. Notable trends are: Increased demand for affordable housing driving the market.

Find the results from CMHC’s 2022 Rental Market Survey (presented in Microsoft Excel tables). These data tables complement the analysis found in the Rental Market Report. Data contained in these tables include: vacancy rate estimates average rents turnover rates universe counts These results are available for Canada, all provinces, and major centres. For 17 Canadian centres, the tables also include results from our Condominium Apartment Survey. This survey covers condominium apartments offered for rent on the secondary rental market in these centres. Datasets available for download