Rents across the country have fallen to their lowest level since July 2023.

The average rent for apartments fell to just over $2000 last month, according to a national rent report from Rentals.ca and Urbanation.

Every month since February of last year, rents have gone down by about $105.

Despite the recent decline, rents are still on average 5.2 per cent higher than two years ago. Prices are also about $300 higher than they were five years ago.

Ontario saw the sharpest decline since last year, with British Columbia in second and Quebec in third.

Manitoba and Saskatchewan had massive growth, but rents were still well below the national average.

Alberta is still growing, and so is Nova Scotia, where rents grew about 1.2 per cent since last year.