The Ajax Rental Market remained largely unchanged in July, even as average asking rents continued to decline across Canada for a 22nd consecutive month.
Ajax was the only Durham Region municipality included in the latest National Rent Report city rankings from Rentals.ca and Urbanation. The town’s overall average asking rent was reported at approximately $2,234 per month.
Average one-bedroom rent in Ajax stood at $1,878, while two-bedroom units averaged $2,218. Both figures were essentially unchanged from June and from the same period one year earlier, according to the supplied report.
Ajax rents show little movement
Ajax ranked 17th among the Canadian rental markets surveyed based on its overall average asking rent.
For individual apartment sizes, the town ranked 20th nationally for one-bedroom rents and 19th for two-bedroom units.
The lack of monthly or annual movement suggests the local market was relatively balanced during July. Renters were not seeing major reductions, but landlords were also not achieving the sharp increases common during earlier periods of limited supply and rapidly rising demand.
The figures represent asking rents on available listings rather than the amounts paid by every existing tenant. Long-term renters may pay substantially different prices depending on when their tenancy began, the building type and whether provincial rent-control rules apply.
Canadian rents continue annual decline
Nationally, the average asking rent for all residential property types was $2,037 in July. That was four per cent lower than one year earlier and marked the 22nd consecutive month of annual rent decreases.
The rate of decline was the smallest recorded since February, suggesting the national rental market may be beginning to stabilize.
Average rents also increased 0.2 per cent from June, marking the fourth consecutive monthly increase after reaching a 35-month low in March. Seasonal demand often strengthens during the summer and before the beginning of the school year.
Urbanation President Shaun Hildebrand described the market as stabilizing but not yet recovering, noting that annual rent declines remained widespread despite several months of modest month-over-month growth.
Toronto moves in different direction
Toronto was the only major urban market identified in the report with a notable monthly increase.
Average Toronto asking rents rose 1.6 per cent to approximately $2,580, making it the third-most expensive major market included in the rankings.
The report suggested Toronto could become an early indicator of a broader market shift because its rental supply is tightening while average prices move closer to year-over-year growth.
That trend may eventually influence communities across the Greater Toronto Area, including Ajax, particularly if renters search outside Toronto for relatively more affordable housing.
Rental types post different results
Purpose-built rental properties proved more resilient than other housing categories.
Average asking rents for purpose-built units declined 2.6 per cent annually to approximately $2,041. Three-bedroom purpose-built rents were essentially unchanged from the previous year.
Houses and townhouses experienced the sharpest annual decrease, falling 7.5 per cent to an average of approximately $2,007.
Across purpose-built and condominium apartments, the national average asking rent was $2,043 in July, representing a 0.3 per cent monthly increase.
Ontario recorded the largest monthly provincial rent increase, rising 0.6 per cent across all property types.
What the figures mean for Ajax renters
The stable Ajax Rental Market offers limited immediate relief for people searching for housing.
A one-bedroom apartment averaging $1,878 remains below the national overall rental average, but it may still be unaffordable for many residents once utilities, transportation, insurance and other monthly costs are included.
Prospective tenants should compare similar listings, review whether utilities and parking are included and confirm the full monthly cost before signing a lease.
Landlords should recognize that tenants have more options than during the strongest rental-market periods. Competitive pricing, property condition and included amenities may play a greater role in attracting applicants.
Although July’s numbers were flat, future Ajax rents could change as seasonal demand, housing supply, interest rates and population trends affect the wider Greater Toronto Area market.
