Canadian Rents Grew 6.5% YoY In May, The Smallest Rise Since 2021

According to the report, Canadian rents appreciated 6.5% year over year in May, with Alberta becoming the "provincial leader for annual rent growth" and Ontario trailing not far behind. BC remains the most expensive province for renters, but Toronto saw the steepest rate of annual rent inflation in May, at 15.5%. Oakville is the most expensive mid-sized market, followed by three suburbs of Vancouver. Scarborough is the fastest appreciating mid-sized rental market, with rents jumping 29.1% year over year.

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