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Kingston, Ont., has recorded the largest year-over-year decline in asking rents of any census metropolitan area in Canada, according to new data from Statistics Canada, offering what city officials describe as an encouraging sign after years of rising housing costs.
Statistics Canada says the average asking rent for a two-bedroom apartment in Kingston fell nearly six per cent in the first quarter of 2026 compared with the same period a year earlier. The figures are based on active rental listings from major online platforms, including Rentals.ca and Zumper.
“It’s a positive step in the right direction,” said Kingston Mayor Brian Paterson.
Officials say the decline reflects improving conditions in the local housing market, following recent decreases in home prices.
“I think what we’re seeing with the data right now is that we’re starting to move in the right direction,” said Mayor Paterson. “We’ve seen house prices come down. Now we’re seeing rents go down. That’s the direction we want to keep.”
Despite the decrease, Kingston remains one of Canada’s most expensive rental markets. The city ranks 10th nationally, with a median asking rent of about $1,745 for a one-bedroom apartment and nearly $2,200 for a two-bedroom unit.
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The city’s vacancy rate has also increased to 2.4 per cent as new housing developments bring more rental units onto the market.
Officials say the increase in supply is helping ease pressure on rental prices.
“I understand the laws of supply and demand — they matter,” said Mayor Paterson. “Whether you like the results or not, supply and demand will drive pricing. We’ve known for a number of years that there’s been a supply issue. We simply haven’t been building enough housing to keep up with demand, and that’s what has led to higher prices. We’ve worked hard over the last few years to reverse that trend.”
While more available housing appears to be slowing rent growth, affordability remains a significant concern for many residents as housing costs continue to strain household budgets.
“Unfortunately, affordability is still an issue across the country, and certainly in Ontario. We’re doing everything we can locally to tackle this problem,” said Mayor Paterson.
City officials say continued investment in new housing will be necessary to improve affordability and maintain downward pressure on rents in the years ahead.
© 2026 Global News, a division of Corus Entertainment Inc.
