Renters in Canada may have felt more of a financial squeeze last month as 2023 wrapped up with average rents hitting a new high. According to the latest National Rent Report from Rentals.ca and Urbanation, December saw the average asking rent for all property types reach a record $2,178. That marks an 8.6% increase from the previous year, continuing an upward trend that has seen rents rise by 22% over the past two years, and translating to an additional $390 per month on average for Canadian tenants.