{"id":700,"date":"2025-11-30T15:00:36","date_gmt":"2025-11-30T20:00:36","guid":{"rendered":"https:\/\/www.realestategtatoday.ca\/index.php\/2025\/11\/30\/gta-rents-continue-slide-13th-month-of-declines-in-october\/"},"modified":"2025-11-30T15:00:36","modified_gmt":"2025-11-30T20:00:36","slug":"gta-rents-continue-slide-13th-month-of-declines-in-october","status":"publish","type":"post","link":"https:\/\/www.realestategtatoday.ca\/index.php\/2025\/11\/30\/gta-rents-continue-slide-13th-month-of-declines-in-october\/","title":{"rendered":"GTA Rents Continue Slide: 13th Month of Declines in October"},"content":{"rendered":"

The Greater Toronto Area’s rental market continues to cool down, with the national average asking rent experiencing its 13th consecutive month of year-over-year declines. According to a recent report from Rentals.ca and Urbanation, the average asking rent in Canada fell 2.2% in October to $2,105<\/strong>. This trend is also reflected in the GTA, although specific regional data wasn’t highlighted in this particular report.<\/p>\n

The report breaks down the rental market further, revealing that asking rents for purpose-built apartments saw a slight decrease of 0.7% to an average of $2,085<\/strong>. Condominium apartments, a significant portion of the GTA rental landscape, experienced a more substantial drop of 4.3% year-over-year, with average asking rents at $2,167<\/strong>.<\/p>\n

While these declines offer some relief to prospective renters, it’s important to note that average asking rents remain elevated compared to pre-pandemic levels. The report indicates that current asking rents are still 6.2% higher than three years ago and a significant 14% above what they were in October 2019. This suggests that while the market is softening, affordability remains a key concern for many in the GTA.<\/p>\n

Looking ahead, Urbanation president Shaun Hildebrand suggests that the rental market may continue to face challenges. Factors such as slowing population growth, elevated unemployment rates, and a surge in new apartment completions could put downward pressure on rents in the near term. This increased supply, in particular, is a trend worth watching in the GTA, as new developments continue to add units to the rental pool.<\/p>\n

Outside the GTA, other major Canadian cities are experiencing similar trends. Vancouver saw a 7.4% decrease in apartment rents, bringing the average to $2,728, while Calgary experienced a 7.2% drop to $1,851. British Columbia and Alberta also saw significant year-over-year declines, with rents falling 5.8% and 5.3% respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian average asking rents fell for the 13th straight month in October, dropping 2.2% year-over-year. What does this mean for Toronto renters?<\/p>\n","protected":false},"author":2,"featured_media":699,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[178],"tags":[305,224,182,221,211,207],"class_list":["post-700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-data","tag-apartment-rentals","tag-condo-market","tag-gta","tag-housing-prices","tag-rental-market","tag-toronto"],"_links":{"self":[{"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/posts\/700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/comments?post=700"}],"version-history":[{"count":0,"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/posts\/700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/media\/699"}],"wp:attachment":[{"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/media?parent=700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/categories?post=700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realestategtatoday.ca\/index.php\/wp-json\/wp\/v2\/tags?post=700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}