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Canadian Renters Benefit as Asking Rents Drop to 31-Month Low

February 11, 2026

Canada's average asking rents fell for the 16th month to $2,057, the lowest in 31 months, with a 2.0% year-over-year decline. Average unit size shrank to 857 sq ft, while rent per square foot rose 1.4% to $2.46. The national rent-to-income ratio dropped below 30% for the first time in six years. All major markets saw rent decreases, except Saskatchewan, where rents rose 4.6%. Three-bedroom rents increased 1.1%.

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