Toronto 
Rents across Canada may not be rising as quickly as before, but a new analysis suggests renters are quietly giving up something else. Space.
A new analysis from Rentals.ca and Urbanation shows the average rental unit has shrunk from 754 square feet in 2024 to 719 square feet in 2026. That is a drop of about 35 square feet, or 4.6 per cent.
At the same time, rent per square foot remains steady at a national average of $2.53, meaning people are often paying similar amounts for less room.
The contrast becomes clearer across major cities. Vancouver has the smallest units at about 650 square feet, but also the highest cost at $4.11 per square foot. Toronto sits at 712 square feet with rents around $3.52 per square foot. Ottawa averages 701 square feet and just over $3 per square foot. Montreal offers slightly more space at 725 square feet with rents at $2.73.
Further west, Calgary units average 754 square feet at $2.46 per square foot, while Edmonton provides the most space at roughly 771 square feet and the lowest cost at $1.99 per square foot.
Shaun Hildebrand, President of Urbanation, says this creates a disconnect. Rents may look stable at a glance, but many renters still feel stretched because the space they get for that price has shrunk.
So what is behind the shift. The report points to changing supply. More studios and one-bedroom units are being built, particularly in condo developments. At the same time, larger units come with higher development costs, giving builders an incentive to go smaller.
The result is subtle but real. Even when the monthly rent stays about the same, the amount of space it covers is gradually getting smaller.
