Vacancy rates for purpose-built rentals in major Canadian cities rose to 3.1% nationally in 2025, up from 2.2% in 2024, due to high rental completions and slower population growth. Despite landlords offering incentives, affordability remains a challenge as rents increased, especially for two-bedroom units. Cities like Toronto, Vancouver, Montreal, Calgary, Edmonton, Ottawa, and Halifax saw varying vacancy and rent trends, with lower-income households facing ongoing affordability issues.
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