A new report says average asking rents in Canada have fallen back to levels seen three years ago, as April marked the 19th consecutive year-over-year decline.

The latest monthly analysis from Rentals.ca and Urbanation, based on asking rents across the former’s listings network, says prices reached an average of $2,027, down 4.7 per cent from April 2025.

However, prices rose 0.9 per cent on month over month from March, amid typical increas in demand during the spring and summer.