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Asking rents and paid rents can move in opposite directions

2025 Q4; published June 2026 · Quarterly asking-rent index, Q1 2024=100

Unit: index; Q1 2024 = 100
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Asking rents and paid rents can move in opposite directionsBy Q4 2025, advertised two-bedroom rents were below Q1 2024 levels in several major cities. Unit: index; Q1 2024 = 100. Quarterly asking-rent index, Q1 2024=100. Use left and right arrow keys to inspect observations. The data table follows the chart.Asking rents and paid rents can move in opposite directionsTorontoVancouverMontréalCalgaryindex; Q1 2024 = 100859095100105Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025Homies Research, using CMHC calculations from Statistics Canada asking rents · Through 2025 Q4; published June 2026Quarterly asking-rent index, Q1 2024=100HOMIES RESEARCH
Dec 2025Toronto 93.7Vancouver 89.8Montréal 99Calgary 92.3

By Q4 2025, advertised two-bedroom rents were below Q1 2024 levels in several major cities.

Source: Homies Research, using CMHC calculations from Statistics Canada asking rents. Reference: 2025 Q4; published June 2026. Released 2026-06-09. Retrieved 2026-09-28.

Quarterly asking-rent index, Q1 2024=100 · Lagged quarterly advertised rents, not September 2026 rents or rents paid by sitting tenants. Quarter-end month is used for the date axis. Incentives may not be fully captured.

View accessible data table · 4 series, 8 observations
Asking rents and paid rents can move in opposite directions. Unit: index; Q1 2024 = 100. Quarterly asking-rent index, Q1 2024=100
PeriodTorontoVancouverMontréalCalgary
Mar 2024100100100100
Jun 202499.397.797.4102.9
Sep 202499.398.5100.598.1
Dec 202496.194.599.593.3
Mar 202594.492.299.591.9
Jun 202593.791.99996.7
Sep 202595.492.799.596.2
Dec 202593.789.89992.3

Homies Research × Real Estate Magazine · Read the September 2026 Market Call ↗