Canadian Renters Benefit as Rents Slightly Decrease

Average rents in Canada showed slight declines or stability in August, benefiting renters. One-bedroom rents averaged $1,775, flat month over month but down 2.4% year over year. Two-bedroom rents averaged $2,201, also flat monthly but down 2.5% annually. Vancouver had the highest rents, with one-bedrooms at $2,390 and two-bedrooms at $3,300, both declining year over year. Calgary and Edmonton saw lower rents, with Calgary's one-bedroom at $1,600 and Edmonton's at $1,260.