Average Asking Rents Reached $2,185 in June as Growth Slows to Seven Percent: Report

A new report says the average asking rent for a home in Canada reached $2,185 in June, up seven percent compared with a year ago despite representing the slowest annual rate of growth in 13 months. The report by Urbanation and Rentals.ca, which analyzes monthly listings from the latter’s network, says average asking rents decreased 0.8 percent from May—the largest month-over-month decline since early 2021 and atypical compared with usual monthly increases this time of year. Based on the report, the average asking rent for a one-bedroom unit in Canada was $1,918 in June, up 7.7 percent from a year ago, while the average asking price for a two-bedroom unit was $2,301, up 9.6 percent....