Rent in Canada has surged over the past several years, outpacing wage growth in most provinces. Here’s what Canadians are actually paying.
Average Rent by Province (2-Bedroom)
| Province/Territory | Average 2-Bedroom Rent | Year-Over-Year Change |
|---|---|---|
| British Columbia | $2,575 | +5.2% |
| Ontario | $2,435 | +4.8% |
| Alberta | $1,780 | +9.5% |
| Quebec | $1,530 | +6.3% |
| Manitoba | $1,380 | +5.1% |
| Saskatchewan | $1,270 | +4.5% |
| New Brunswick | $1,340 | +7.8% |
| Nova Scotia | $1,620 | +6.9% |
| Prince Edward Island | $1,380 | +5.8% |
| Newfoundland & Labrador | $1,100 | +3.2% |
| Northwest Territories | $1,650 | +2.1% |
| Nunavut | $2,100 | +1.5% |
| Yukon | $1,580 | +3.5% |
| National Average | $2,187 | +5.6% |
Source: Canada Mortgage and Housing Corporation (CMHC) Rental Market Report, Rentals.ca, 2025-2026 data.
Average Rent by Major City
| City | 1-Bedroom | 2-Bedroom | Studio |
|---|---|---|---|
| Vancouver | $2,650 | $3,450 | $2,200 |
| Toronto | $2,480 | $3,150 | $1,950 |
| Victoria | $2,100 | $2,680 | $1,750 |
| Ottawa | $1,850 | $2,350 | $1,520 |
| Calgary | $1,680 | $2,050 | $1,350 |
| Edmonton | $1,380 | $1,720 | $1,100 |
| Montreal | $1,550 | $1,870 | $1,250 |
| Halifax | $1,680 | $2,100 | $1,350 |
| Winnipeg | $1,220 | $1,480 | $980 |
| Saskatoon | $1,150 | $1,380 | $920 |
| Regina | $1,100 | $1,320 | $880 |
| St. John’s | $1,050 | $1,280 | $850 |
Rent vs. Income by Province
How much of the median household income goes to rent (2-bedroom):
| Province | Avg. 2-BR Rent (Monthly) | Annual Rent | Median Household Income | Rent as % of Income |
|---|---|---|---|---|
| British Columbia | $2,575 | $30,900 | $76,000 | 40.7% |
| Ontario | $2,435 | $29,220 | $82,000 | 35.6% |
| Alberta | $1,780 | $21,360 | $88,000 | 24.3% |
| Quebec | $1,530 | $18,360 | $64,000 | 28.7% |
| Manitoba | $1,380 | $16,560 | $65,000 | 25.5% |
| Saskatchewan | $1,270 | $15,240 | $70,000 | 21.8% |
| Nova Scotia | $1,620 | $19,440 | $62,000 | 31.4% |
The 30% of income rule for “affordable” rent is exceeded in British Columbia, Ontario, and Nova Scotia — for the median household.
Rent Growth Over the Past 5 Years
National average 2-bedroom rent over time:
| Year | Average 2-BR Rent | Annual Change |
|---|---|---|
| 2020 | $1,380 | -1.2% |
| 2021 | $1,450 | +5.1% |
| 2022 | $1,680 | +15.9% |
| 2023 | $1,920 | +14.3% |
| 2024 | $2,070 | +7.8% |
| 2025 | $2,187 | +5.6% |
Rents have increased roughly 58% since 2020, while wages have grown approximately 15-20% over the same period.
Average Rent by Bedroom Count (National)
| Unit Type | Average Rent | Median Rent |
|---|---|---|
| Studio/Bachelor | $1,420 | $1,350 |
| 1-Bedroom | $1,810 | $1,720 |
| 2-Bedroom | $2,187 | $2,050 |
| 3-Bedroom | $2,650 | $2,450 |
| 4+ Bedroom | $3,100 | $2,850 |
Rent vs. Own
Is it better to rent or buy? Comparing total monthly costs:
| City | Rent (2-BR) | Own (Condo, 10% down, 25yr) | Difference |
|---|---|---|---|
| Vancouver | $3,450 | $5,200 (incl. strata, property tax) | Own costs 51% more |
| Toronto | $3,150 | $4,800 | Own costs 52% more |
| Calgary | $2,050 | $2,650 | Own costs 29% more |
| Montreal | $1,870 | $2,900 | Own costs 55% more |
| Edmonton | $1,720 | $2,100 | Own costs 22% more |
In most Canadian cities, the monthly cost of owning exceeds renting — but owners build equity. The math depends heavily on how long you plan to stay and future price appreciation.
For a detailed comparison, use our mortgage payment calculator and mortgage affordability calculator.
Key Takeaways
- National average rent is $2,187/month for a 2-bedroom — up 58% since 2020
- Vancouver and Toronto remain the most expensive rental markets, with 2-bedrooms at $3,150-$3,450
- Alberta and Saskatchewan offer the most affordable rents relative to income
- Rent exceeds 30% of income in BC, Ontario, and Nova Scotia for median-income households
- Renting is currently cheaper than owning on a monthly basis in most cities, but does not build equity