Housing: Average asking rent price hit $2,174 in November

A report says the average asking price for a rental unit in Canada was $2,174 in November, relatively flat from the previous month but an 8.4 per cent increase year-over-year.

The data released Friday by Rentals.ca and Urbanation, which analyzes monthly listings from the former's network, showed the annual rate of rent growth in Canada continues to slow, following increases of 9.9 per cent in October and 11.1 per cent in September.

The average cost of a one-bedroom unit in November was $1,911, up 13.6 per cent from the same month in 2022, while the average asking price for a two-bedroom was $2,260, up 10.5 per cent annually.

There were notable slowdowns in two of Canada's most expensive major cities for renters, according to the report.