the area where you live sounds like the exception, not the rule (and this is an article from last year): https://www.cbc.ca/news/business/rising-rent-housing-market-canada-1.6525075

Interest rates are rising and the house-buying market is cooling off, putting more strain on rentals

The cost of rental housing is rising throughout Canada, according to Rental.ca. Analysts say rising interest rates are part of the problem.