Rental prices in Ontario have risen over the past few years, but new data from Rentals.ca showed that some of Ontario's major cities have actually seen a decrease in prices over the past few months.

However, Ontario still leads Canadian provinces with the highest annual rent inflation, with a staggering growth rate estimated at 16.2% in February.

Ontario is closely followed by Alberta and British Columbia, which saw huge rent increases of 14.5% and 11.4%, respectively.

According to the data, the 12 most expensive mid-sized rental markets in February were in Metro Vancouver and the Greater Toronto Area (GTA).

In March, Toronto recorded the highest average monthly rent of $2,501, followed by Oakville and Burlington with $2,268 and $2,220 respectively.

Similarly, Quebec and Ontario recorded the highest rent increases over the past three months, with Quebec seeing a 2.9% increase and Ontario 1%.

Here are some Ontario cities where the rent for a one-bedroom apartment is less than $2,000:

Ottawa: approximately $1,959

Kitchener: approximately $1,932

Barrie: approximately $1,929

Cambridge: approximately $1,870

Brampton: approximately $1,867

Hamilton: approximately $1,828

London: approximately $1,774

Oshawa: approximately $1,731

Kingston: approximately $1,669

St. Catharines: approximately $1,631

Despite the recent decrease in rental prices in some cities, tenants in Ontario should still expect ongoing price increases.

This is especially true for Toronto residents, who saw the second fastest annual rent growth rate at 22.8%, despite a slight 0.9% decrease over the past three months, with the average rent in Toronto now at $2,838.