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Story summary
- Rentals.ca and Urbanation report Canada’s average asking rent fell to $2,034 in September, 4.2% lower than 2025.
- The decline marks the 24th consecutive month, completing two full years of falling rents.
- Urbanation president Shaun Hildebrand says over-supply in Toronto and Vancouver drives the nationwide rent drop.
- Condo rents fell 7.8% to $2,052, with studio condos down 9.6%.
- Purpose-built rentals were most resilient, down only 2.7% to $2,036.