Canada's rental market shows rising vacancy rates, reaching 5.1% nationally, with bachelor units at 8.3%. Calgary leads with 7.3% vacancy. Average rent rose slightly but new lease rents fell by 1%. Housing completions increased 22.3%, with apartment starts up nearly 10%. Population declined by over 100,000 in 2025, easing shortages but raising vacancies in immigrant-heavy areas. Turnover rose to 25.8%, while average resident stay lengthened. Operating costs increased faster than income, pressuring landlords amid cooling market fundamentals.