Vancouver recorded the highest average asking rent for a two-bedroom apartment in the first quarter 

June 25,2025

RED FM News Desk

According to Statistics Canada, Vancouver had the highest average asking rent for a two-bedroom apartment in the first quarter. The average asking price in B.C.’s largest city was $3,170, a decrease from $3,440 in the same period in 2024. 

In Toronto, the average asking rent for a two-bedroom unit was $2,690, down from $2,850 a year earlier, while Victoria’s average was $2,680, slightly down from $2,690. 

Ottawa, on the other hand, saw an increase, with the average rent rising to $2,490 from $2,290 in the first quarter of 2024. Compared to the first quarter of 2019, average asking rents in Vancouver have risen by 27.3 per cent, while Toronto has seen a 5.1 per cent increase.