Overview
- Zumper’s November report records a full year of year‑over‑year declines for one‑ and two‑bedroom asking rents across Canada.
- Toronto posted the steepest annual drops nationwide, with one‑bedroom medians down 9.6% to $2,170 and two‑bedrooms down 11% to $2,760, yet it remains the third‑priciest one‑bedroom market.
- Smaller Ontario markets also fell sharply: Barrie’s one‑bedrooms slid 8.2% to $1,800 (two‑bedrooms −9.1% to $2,000) and London’s one‑bedrooms dropped 8% to $1,600 (two‑bedrooms −9.7% to $1,950).
- Vancouver still has the highest one‑bedroom median at $2,500 but is down nearly 4% year over year, as Kelowna’s one‑bedrooms fell 7% to $1,860 and Burnaby’s two‑bedrooms declined 8.2% to $2,800.
- National medians edged lower to $1,809 for one‑bedrooms and $2,234 for two‑bedrooms, and Victoria’s rents also eased with one‑bedrooms at $2,010 and two‑bedrooms at $2,620.