In February, Canada's average asking rent price reached $2,193, a 10.5% increase from 2023, with Alberta having the fastest-growing rents.
The average asking rent price in Canada reached $2,193 in February, up 10.5% from 2023, marking the fastest annual growth since September 2023. One-bedroom units increased 12.9% to $1,920, while two-bedroom units rose 11.3% to $2,293. These increases resulted in a total 21% overall increase in rents since two years ago, just before interest rate hikes by the Bank of Canada. Alberta maintained its position as the province with the fastest-growing rents.
March 11, 2024
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