Canada's Residential Rent Hits Record High

Average rents for Canadian residential properties hit a record high of $2,202 per month in May, marking a 9.3% year-over-year increase, consistent with a 9.1% average annual growth over the past three years. Major cities like Vancouver and Toronto are stabilizing near record highs, while smaller cities see double-digit increases. All provinces experienced rent hikes, with notable growth in Nova Scotia, Alberta, and Saskatchewan.