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Canada's Rent Slide Is Finally Stalling — What It Means If You Rent or Rent Out

  Published August 13, 2026 For nearly two years, "Canadian rents are falling" has been one of the safest headlines in personal finance. The August 2026 National Rent Report from Rentals.ca and Urbanation, released last week, suggests that streak may finally be running out of road — and the shift matters whether you're the one paying rent or the one collecting it. The Numbers National avg. asking rent (July) $2,037 Year-over-year change -4.0% (22nd straight monthly decline) Month-over-month change +0.2% (4th straight monthly rise) Toronto, month-over-month +1.6% to $2,577 Falling, But Not as Fast Rent is still dropping on a year-over-year basis nationally — that's now been true for 22 straight months. But the pace of the decline has been easing since it bottomed out in March, and July marked the smallest annual drop since February. On a month-to-month basis, rent has now risen for four months running, which typically happens every summer as the market hits its season...
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What’s Happening Across Ontario

Heavy rainfall mixed with melting snow could cause flooding this weekend, warns Environment Canada.


Summary

Environment Canada is calling for significant rainfall across many regions of Ontario, with totals generally in the 15–40 mm range depending on location. Several areas also face flood risks due to melting snow and frozen ground that can’t absorb water. 

Rainfall Amounts

  • 15–40 mm expected from Friday evening to Saturday evening in regions including:

    • Newmarket–Georgina–Northern York Region
    • Barrie–Orillia–Midland
    • Owen Sound–Blue Mountains
    • Perth County
    • Sault Ste. Marie, Elliot Lake, Temiskaming Shores, Manitoulin

  • Similar totals (15–40 mm) forecast for:

    • Greater Sudbury
    • North Bay–West Nipissing
    • Huntsville–Baysville
    • Kitchener–Waterloo

Flood Risk Factors

Environment Canada and the Insurance Bureau of Canada warn that:

  • Heavy rain + melting snow + frozen ground = high flood potential, especially in low‑lying areas and basements.
  • Southwestern and south‑central Ontario are particularly vulnerable.

Active Alerts

  • Rainfall warnings (yellow level) in multiple regions.
  • Flood advisories around Waterloo Region and Guelph.
  • General weather advisories across parts of Ontario.

What This Means for You (Ajax, Ontario)

While Ajax isn’t specifically named in the rainfall warnings above, the GTA is adjacent to several affected zones, and similar weather systems often spill over.

  • Expect periods of rain, possibly heavy at times.
  • Localized pooling is possible, especially where snow remains or drains are blocked.

Quick Safety Checklist

  • Clear storm drains and gutters.
  • Move valuables off basement floors.
  • Keep sump pumps powered and tested.
  • Avoid driving through pooled water.
  • Monitor Environment Canada alerts for your exact location.


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