Market Overview
Ottawa asking rents edged up in October 2026. The average asking rent for apartments and condominiums was $2,170 per month, up 0.3% from September and 0.3% from a year earlier, according to the Rentals.ca and Urbanation National Rent Report published November 5, 2026. That turns the annual change positive after a 1.2% decline in September. Among Toronto, Vancouver, Ottawa, Calgary and Edmonton, only Toronto (+1.6%) posted a larger annual gain. Ottawa rents remain 1.7% below their level two years ago and 1.2% below three years ago.
Nationwide, the average asking rent for apartments and condos was $2,041 in October, and the average across all property types was $2,036, down 3.2% year over year in the 25th consecutive month of annual declines. Ontario apartment and condo rents rose 0.5% from September to $2,242 and were down 2.5% over the year. Across all property types, Ontario's average was $2,252, down 3.4%, the largest annual decline among the provinces.
Vacancy remains relatively tight. The Canada Mortgage and Housing Corporation (CMHC) recorded a purpose-built rental vacancy rate of 2.9% in October 2025 for the Ottawa CMA, its most recent authoritative survey.
Average Rents by Unit Size
The table below shows CMHC's in-place averages for Ottawa's existing purpose-built stock as of October 2025. These reflect what current tenants pay across the market, not new-listing asking prices.
- Studio (CMHC, Oct 2025): $1,332 / month
- 1 Bedroom (CMHC, Oct 2025): $1,593 / month
- 2 Bedroom (CMHC, Oct 2025): $1,916 / month
- 3 Bedroom+ (CMHC, Oct 2025): $2,090 / month
- All apartments (CMHC, Oct 2025): $1,743 / month
On asking rents, Rentals.ca reported that Ottawa one-bedroom units rose 0.3% over the year to $1,967 in October, two-bedroom units fell 1.8% to $2,469, and three-bedroom units were $2,738, down 0.1%. CMHC's purpose-built averages sit below the $2,170 apartment and condo asking rent because asking rents capture new-listing prices, while CMHC's data reflects the broader purpose-built stock including existing tenancies. Both are useful, but they measure different things.
Neighborhood Breakdown
Central and inner-city neighborhoods continue to command the highest rents in Ottawa, while several suburban communities offer better value per bedroom. Walkable areas near downtown and the universities draw steady rental demand.
Higher-priced areas
- Centretown and Downtown, the walkable core
- The ByWard Market, historic core with nightlife and amenities
- The Glebe, premium mature neighborhood near the canal
- Sandy Hill, university-adjacent to uOttawa with strong rental demand
Best-value areas
- Barrhaven, in the south, newer suburban supply and value pricing
- Orleans, in the east, family-oriented suburban value
- Vanier, inner-city relative value close to the core
Around Ottawa (Rentals.ca, October 2026)
- Kanata: $2,538, up 9.2% over the year, one of the larger annual gains in the country outside the six largest cities
Neighborhood-level rent averages fluctuate month to month based on listing mix. For in-place rents by area, see the CMHC neighborhood rent tables which are updated on CMHC's schedule.
Supply and Vacancy
Ottawa's vacancy rate sat at 2.9% in October 2025 across the purpose-built rental stock, according to CMHC. That is a relatively balanced reading, loose enough to give renters some choice while remaining tight compared with the most oversupplied markets in the country.
Vacancy by unit type (CMHC, October 2025)
- Studio: 3.5%
- 1 bedroom: 3.0%
- 2 bedroom: 2.8%
- 3 bedroom or more: 1.7%
- Overall: 2.9%
Larger units, three bedrooms and up, remain the tightest segment at 1.7%. Shared accommodation is cooling: the average asking rent for a room in Ottawa fell 5.3% over the year to $1,048 in October, according to Rentals.ca, though that is still up 12.8% over two years. Nationally, purpose-built rental apartments posted the smallest annual decline of the three property types, down 2.1% to $2,040.
Outlook
Rentals.ca's November report says Toronto and Vancouver are turning first. Both posted their first annual increase in apartment and condo asking rents after long runs of decline. It says the markets that peaked first in 2023 are the first to stabilize, and that other markets are earlier in the same cycle. Ottawa's move back above last year's level fits that pattern, though at 0.3% the gain is small.
For most units covered by rent control, Ontario's rent-increase guideline is 2.1% for 2026 and 1.9% for 2027. Increases above it generally require Landlord and Tenant Board approval, and units first occupied after November 15, 2018 are exempt from the guideline.
What this means for renters
- Asking rents are 0.3% above last year's level, so the room to negotiate is narrowing
- Best value continues to sit in the suburbs (Barrhaven, Orleans) and Vanier
- Most annual increases on covered units are limited to Ontario's guideline
- Disputes go to Ontario's Landlord and Tenant Board
What this means for landlords
- Realistic pricing still matters, especially for two-bedroom units where asking rents are below last year
- Quality photos and detailed listings win the competition for attention
- Use the Ontario Standard Lease and stay within the guideline on increases
- Renewals are cheaper than turnover, offer existing tenants a fair renewal rate
SQRFT's November 2026 report will publish on the last business day of November.
What it means for you
Turn the market shift into a smarter decision
If you own a rental
LandlordsPrice to the market you're in. Ottawa apartment and condo asking rents rose 0.3% from September and are 0.3% above a year ago, but are still 1.7% below two years ago. Price to current comparables; overpricing costs weeks of vacancy as demand fades into winter.
Compete on retention. Renewing an existing tenant beats the turnover cost of a vacant month. Ontario's rent-increase guideline is 2.1% for 2026 and 1.9% for 2027 on covered units, so plan renewals within those limits.
Get the paperwork right. Ontario requires the Ontario Standard Lease for most residential tenancies. A written, timestamped move-in inspection is still your best defence against a damage dispute at move-out.
If you rent
TenantsCompare unit sizes. Ottawa two-bedroom asking rents were 1.8% lower than a year ago at $2,469 in October, while one-bedroom rents were $1,967, up 0.3%, according to Rentals.ca. The size you need changes the deal you can find.
Look outside the core. Barrhaven, Orleans, and Vanier typically offer the largest rent gaps per bedroom versus the Glebe and Centretown.
Know the guideline. For most units covered by rent control, Ontario's rent-increase guideline is 2.1% for 2026 and 1.9% for 2027. Units first occupied after November 15, 2018 are exempt, and disputes go to the Landlord and Tenant Board.
MORE MOVING MEANS MORE DISPUTES
A market holding steady still means plenty of move-outs. That is where rental disputes begin.
Many of the disputes that reach Ontario's Landlord and Tenant Board start around move-in and move-out, over rent, possession and damage. sqrft.ca gives Ontario landlords and tenants an Ontario Standard Lease compliant workflow, timestamped move-in and move-out inspections, and a full audit log per tenancy.