Renting This Week in Canada: Welcome to a Renters Market

As David Aizikov of Rentsync has been saying for months, Canada is officially a renters market, which is excellent news for all renters, but particularly for newcomers to Canada and international students arriving in Canada now and throughout 2025. 

However, affordability and availability remain key issues for many renters across the country. 

That is why knowing which cities and regions have the cheapest rents (and, by extension, the most affordable home buying prices) is vital for immigrants arriving in Canada.

As Canada ramps up after the holiday season, catch up on these rental trends and housing issues with our latest Renting This Week in Canada Roundup: 

According to the latest national rent survey from Rentals.ca and Urbanation, asking rents for all residential property types in Canada fell to a 15-month low of $2,139 in November. Experts say this trend will continue deep into 2025, and that's good news for newcomers.

Manuela Vega of The Toronto Star reports that rents are dropping in Mississauga, Brampton, Oakville, Oshawa and other Toronto area cities that are popular landing spots for newcomers and international students. But are they affordable?

What do renters across Canada want, and what are the key trends in 2025? Rentsync's latest Renter Preference Survey showed that renter satisfaction is improving and that rent searches take less time. Find out more.

 

 

Did you know Canada's rising cost of living and broader financial uncertainty led to a steep 29% reduction in active renters? Or, that the addition of newly completed rental units increased competition, leading landlords to prioritize tenant retention strategies and reprice their units to attract a limited renter pool? Here's what landlords and renters need to know. 

According to Candyd Mendoza of Canadian Mortgage Professional, rising housing costs and shifting lifestyles lead older Canadians to choose renting over homeownership. What does this mean for the rental and homebuying markets? Could homesharing be an option for older Canadians?

 

 

Dr. Mike Moffatt, Senior Director of the Smart Prosperity Institute and co-host of the podcast The Missing Middle, predicts that Canada will miss former housing minister Sean Fraser as he leaves politics. Some will certainly agree -  and disagree. Did he achieve anything for renters?

Which mid-sized Canadian cities, month over month, have the cheapest rents in the country? Most are out west, and here are 10 things to know about the cheapest (and yes, it's Fort McMurray) city.

 

 

Canada’s winter weather usually brings a “chill” to the country’s housing market, resulting in fewer rentals and house sales as people wait for spring’s warmer temperatures. However, Canada’s continuing housing crisis doesn’t permit housing hibernation. As this advice on Next Stop Canada's website points out,  finding affordable housing in Canada remains THE critical first challenge for newcomers looking for a successful new beginning.

 

Are high housing costs in Toronto forcing newcomers to flee to smaller cities?  Statistics Canada says that the number of immigrants who choose to stay in Toronto five years after getting here is declining, and renting and home prices are being blamed. 

For a look back at the Canadian rental market in the last quarter of 2024 (and to see where things are headed), check out CMHC's annual Rental Market Report. 

Looking for student accommodation in Canada? Here are some great tips for international students culled from the experts. 

Don't forget to check out our Monthly Housing Newsletter for Newcomers and International Students for trends, tips and rental housing solutions. 

*Rent prices were accurate when this article was published but may change over time.

© Rentals for Newcomers 2024