Canada Renter Interest Report – Q4 2025
Moncton Leads the Nation as Rental Demand Holds Firm into Year-End
Despite the typical seasonal slowdown in late fall and early winter, renter demand across Canada remained resilient in the fourth quarter of 2025. While peak moving season had passed, affordability pressures and limited housing supply continued to keep many Canadians in the rental market.
According to recent national renter engagement data, Moncton, New Brunswick, retained its position as the most in-demand rental market in Canada for Q4 2025. Meanwhile, several mid-sized cities made notable gains — and Vancouver re-entered the national top 10.
Key Highlights from Q4 2025
- Moncton, NB ranked #1 nationally for renter interest.
- Hamilton, ON posted the largest jump, climbing 10 positions to #2.
- Halifax, NS held strong at #3.
- Vancouver, BC moved up four spots to #7.
- Renter demand was broadly distributed across provinces, rather than concentrated in a single region.
The data suggests that renters are increasingly exploring markets beyond Canada’s largest urban centres, particularly where affordability and availability offer stronger value.
Canada’s Top 10 Cities for Renter Interest – Q4 2025
- Moncton, NB
- Hamilton, ON
- Halifax, NS
- Saskatoon, SK
- Regina, SK
- Victoria, BC
- Vancouver, BC
- Winnipeg, MB
- Ottawa, ON
- Edmonton, AB
Atlantic Canada Continues to Punch Above Its Weight
Moncton once again topped the national rankings, reflecting sustained engagement from renters both locally and from other provinces. Activity indicators showed:
- A significant increase in listing views year-over-year
- A decline in available inventory
- Stable search engagement and favourited listings
The city’s relative affordability, growing economy, and lifestyle appeal continue to attract attention — even outperforming much larger metropolitan markets.
Vancouver Rebounds; Calgary Moderates
Among Canada’s largest cities, engagement levels varied heading into year-end.
Vancouver, BC
Vancouver climbed into the top 10 as available inventory tightened. Reduced supply appears to have accelerated renter decision-making, with fewer listings remaining on the market for long.
Edmonton, AB
Edmonton maintained a top-10 presence. While renter engagement softened slightly toward the end of the year, the city continues to attract attention as a more affordable western Canadian option.
Calgary, AB
Calgary experienced a moderate easing in renter activity compared to earlier in the year. After a strong 2024 and early 2025 surge driven by interprovincial migration and economic momentum, Q4 signals a more balanced market. Increased supply and a normalization of search activity suggest conditions are stabilizing rather than weakening.
For Alberta investors, this moderation represents market maturity rather than decline.
Smaller Cities Stepping Into the Spotlight
Several mid-sized markets recorded outsized gains in renter interest:
Saskatoon, SK
Climbed into the top five as affordability and tightening availability drew increased engagement.
Victoria, BC
Continued to perform strongly, supported by lifestyle appeal and stable demand.
Hamilton, ON
The quarter’s standout performer, Hamilton surged to #2 nationally. Spillover demand from the Greater Toronto Area continues to support its rental market.
These cities demonstrate that renter demand is increasingly distributed — renters are willing to look beyond traditional major hubs in search of value and opportunity.
Cooling Markets & Market Rebalancing
Not every market saw gains. Some Ontario and Québec cities experienced softer engagement in Q4 as renters became more selective. Nationally:
- Vacancy rates edged upward
- Turnover rates increased
- Search activity normalized following peak season
This indicates gradual rebalancing — not contraction — in Canada’s rental market.
Provincial Snapshot
Ontario placed two cities in the national top 10, while British Columbia and Saskatchewan also secured multiple spots. Alberta, Manitoba, Nova Scotia, and New Brunswick each placed one city in the top tier.
Renter demand remains geographically diverse.
What This Means for Alberta Property Owners
For owners in Calgary and Edmonton:
- Demand remains present, though more measured.
- Pricing accuracy is increasingly important.
- High-quality marketing and professional screening are critical differentiators.
- Vacancy management strategies matter more in a stabilizing market.
As rental markets move from peak intensity toward balance, experienced property management becomes even more valuable.
Looking Ahead to 2026
With homeownership costs remaining elevated and supply constraints persisting in many regions, renting will continue to play a central role in Canada’s housing landscape.
While seasonal slowdowns are expected in late-year quarters, the broader trend points to sustained rental demand — particularly in markets that balance affordability, employment opportunities, and quality of life.
For investors and landlords, understanding these shifting renter patterns is key to maximizing occupancy and long-term returns.
