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June 25, 2025APARTMENT RENTS, Q1 2025 Statistics Canada and the Canada Mortgage and Housing Corporation have launched a new data series on quarterly apartment rents. Information on the monthly asking price of available apartments units is collected from major rental platforms. Average asking rents are reported for Canada's Census Metropolitan Areas (though not all CMAs have data for each apartment type). Asking rents are not adjusted for included services, amenities, quality or location of units. Differences in average rents from one period to another may therefore reflect differences in apartment qualities. Average rents are available for studio apartments (ie: apartments with no bedroom), 1-bedroom apartments, 2-bedroom apartments and 3+ bedroom apartments as well as rooms to rent. Collective dwellings, vacation homes, mobile homes and subsidized units are not included in estimates of average rents. This data is new and still considered to be 'experimental estimates'.
In Halifax, the average asking rent for a studio apartment was $1,520 in Q1 2025. The highest asking rents for studio apartments were in Vancouver while the lowest rents for studios among reporting CMAs were in Sherbrooke.
The average asking rent for a 1-bedroom apartment in Halifax was $1,770 in Q1 2025. Among CMAs, the average asking rents for 1-bedroom apartments were highest in Vancouver, Toronto, Victoria and Ottawa. Trois-Rivières and Sherbrooke reported the lowest asking rents for 1-bedroom apartments in Q1.
In Halifax, the average asking rent for a 2-bedroom apartment was $2,230 in Q1 2025. As with 1-bedroom apartments, asking rents for 2-bedroom apartments were highest in Vancouver, Toronto, Victoria and Ottawa. The lowest asking rents for 2-bedroom units in Q1 2025 were in Sherbrooke and Drummondville.
The average asking rent for 3 or more bedroom units in Halifax was $2,720 in Q1 2025. The highest rents for these units were in Vancouver, Victoria, Toronto and Ottawa while the lowest rents were in Sherbrooke.
Compared with Q1 2024, Halifax average asking rents were down for all types of apartments except studios (+0.7%). Rents for studio apartments were down across several CMAs, with Saskatoon reporting the steepest decline. Sherbrooke and Regina reported the largest percentage increases in asking rents for studio apartments.
Asking rents were down 3.8% for 1-bedroom apartments in Halifax, compared with Q1 2024. Kelowna reported the steepest decline in asking rents for 1-bedroom apartments while Lethbridge, Regina and Trois-Rivières reported the largest percentage growth in asking rents for 1-bedroom apartments.
The asking rent for a 2-bedroom apartment in Halifax was down 6.3% year-over-year. Lethbridge reported the sharpest percentage increase in asking rent for a 2-bedroom apartment while Kelowna reported the steepest decline.
The asking rent for apartments with 3 or more bedrooms was down 7.5% in Halifax from Q1 2024 to Q1 2025. Peterborough reported the steepest percentage decline in asking rent for larger apartments while Fredericton experienced the fastest growth.
Compared with the average asking rent from 2019, Halifax studio apartment rents were up 68.4% in Q1 2025. Only Sherbrooke reported faster growth in asking rents for studio apartments over this period (though not all CMAs reported average asking rents for studio apartments). Growth in asking rents for studio apartments was slowest in Toronto (among reporting CMAs).
The average asking rent for a 1-bedroom apartment increased by 59.5% from 2019 to Q1 2025. Over this period, asking rents for 1-bedroom apartments grew fastest in Trois-Rivières and Sherbrooke. The slowest rent increases were in Toronto.
The average asking rent for a 2-bedroom apartment increased by 63.4% in Halifax from 2019 to Q1 2025. Asking rents for 2-bedroom apartments were up the most in Drummondville and Sherbrooke over this period while Toronto reported the slowest growth.
Larger apartments (3+ bedrooms) in Halifax reported a 65.6% increase in asking rents from 2019 to Q1 2025. The fastest growth in asking rents for larger apartments was in Sherbrooke while the slowest increases were in Toronto and Vancouver.
Source: Statistics Canada. Table 46-10-0092-01 Asking rent prices, by rental unit type and number of bedrooms, experimental estimates
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