Ontario Rental Market Report – February 22, 2025
In this article
- Introduction
- Trenton, ON Rental Market Overview
- Belleville, ON Rental Market Overview
- Kingston, ON Rental Market Update
- Cobourg, ON Rental Market Overview
- Oshawa, ON Rental Market Overview
- Scarborough, ON Rental Market Overview
- Guelph, ON Rental Market Overview
- Richmond Hill, ON Rental Market Overview
- Hamilton, ON Rental Market Overview
- London, ON Rental Market Overview
- Gananoque, ON Rental Market Overview
- Niagara Falls, ON Rental Market Overview
- Peterborough, ON Rental Market Overview
- Conclusion
Introduction
The Ontario rental market is dynamic and ever-changing. This report offers a detailed snapshot of rental trends across key cities as of February 22, 2025. Whether you’re an investor, landlord, or renter, understanding these trends can help you make informed decisions in Ontario.
At Blue Anchor Property Management, we have extensive experience serving investors and tenants throughout Central Ontario. Our expertise spans Northumberland County, Hastings County, and Prince Edward County. To learn more about our local reach, visit our Areas We Serve page. If you’re specifically interested in Trenton, check out our dedicated Trenton page.
Trenton, ON Rental Market Overview
| Unit Type | Number of Listings | Average Rent |
|---|---|---|
| 1 Bedroom Units | 4 | $1,677 |
| 2 Bedroom Units | 7 | $1,827 |
| 3 Bedroom Units | 4 | $2,263 |
Key Highlights: Studio apartments are also available, with prices starting from $1,200. Some listings include utilities in the rent price. A variety of locations are available, from downtown to quieter neighborhoods. Many units offer amenities like parking, in-unit laundry, and balconies.
For more insights on local market conditions, consider reviewing Trenton Ontario Real Estate Market Home Buyer Tips.
Belleville, ON Rental Market Overview
| Unit Type | Number of Listings | Average Rent |
|---|---|---|
| 1 Bedroom Units | 6 | $1,637 |
| 2 Bedroom Units | 10 | $1,967 |
| 3 Bedroom Units | 5 | $2,269 |
Key Points: Overall average rent in Belleville is approximately $1,800. Rent has increased by 11% in the last year, and the median rent of $1,940 is 3% higher than the national average. Notable listings include The Magnolia (1 bed at $1,860, 2 beds at $2,285) and Prince William Apartments (2 beds at $2,450). Neighborhood averages are approximately $1,979 in Central East, $1,843 in Downtown Belleville, and $1,855 in West Belleville.
For comprehensive market data, see Belleville, Ontario Real Estate Market Data.
Kingston, ON Rental Market Update
| Unit Type | Number of Listings | Average Rent |
|---|---|---|
| 1 Bedroom Units | 8 | $1,596 |
| 2 Bedroom Units | 5 | $2,015 |
| 3 Bedroom Units | 3 | $2,619 |
Key Points: A total of 16 units were analyzed with an overall average rent of approximately $1,792. Recent trends show a 1.3% decrease in rent prices over the last month and a 12% decrease over the last year. Popular neighborhoods include Downtown Kingston (around $1,785), Queens (around $1,782), and Williamsville (around $1,569).
For additional insights, refer to 2024: What to Expect in the Quinte Area’s Real Estate Market.
Cobourg, ON Rental Market Overview
| Unit Type | Number of Listings | Average Rent |
|---|---|---|
| 1 Bedroom Units | 3 | $1,767 |
| 2 Bedroom Units | 4 | $2,163 |
| 3 Bedroom Units | 1 | $3,200 |
Key Insights: Overall average rent in Cobourg is approximately $2,300. Rent prices range from $1,600 to $3,600. There has been a $50 increase in average rent month-over-month, and the market has seen a $600 decrease year-over-year. Currently, there are 25 available rental properties.
Oshawa, ON Rental Market Overview
| Unit Type | Number of Listings | Average Rent |
|---|---|---|
| 1 Bedroom Units | 11 | $1,635 |
| 2 Bedroom Units | 9 | $2,089 |
| 3 Bedroom Units | 5 | $2,797 |
Key Insights: Overall average rent in Oshawa is approximately $2,280. Rent prices range from $800 to $4,700. There has been a $70 decrease in average rent month-over-month, and a $170 decrease year-over-year. Total available properties: 496.
Scarborough, ON Rental Market Overview
1 Bedroom Units: Average rent: $2,066
2 Bedroom Units: Average rent: $2,230
3 Bedroom Units: Average rent: $2,386
Key Insights: Overall median rent is approximately $2,300. Approximately 324 apartments are available in Scarborough. Rent prices have decreased by 1% in the last month and 15% in the last year, and the median rent is 22% higher than the national average.
Guelph, ON Rental Market Overview
| Unit Type | Number of Listings | Average Rent |
|---|---|---|
| 1 Bedroom Units | 4 | $956 |
| 2 Bedroom Units | 3 | $2,347 |
| 3 Bedroom Units | 1 | $2,200 |
For more local insights, refer to current trends and data available on the local market.
Richmond Hill, ON Rental Market Overview
| Unit Type | Average Rent |
|---|---|
| 1 Bedroom Units | $2,000 |
| 2 Bedroom Units | $2,586 |
| 3 Bedroom Units | $3,307 |
Key Points: Overall median rent is approximately $2,600. Rental prices have decreased by 26% year-over-year. There are 178 rentals available. Market trends indicate a 2% increase last month and a 26% decrease over the last year, with an average apartment size of 655 sq ft.
Hamilton, ON Rental Market Overview
| Unit Type | Average Rent |
|---|---|
| 1 Bedroom Units | $1,795 |
| 2 Bedroom Units | $2,183 |
| 3 Bedroom Units | $2,105 |
Key Insights: Overall median rent is approximately $1,960, slightly lower than the national average. There are 34+ houses available for rent. Market trends show a 1.6% decrease last month and a 15% decrease over the last year, with an average apartment size of 599 sq ft.
London, ON Rental Market Overview
| Unit Type | Average Rent |
|---|---|
| 1 Bedroom Units | $1,717 |
| 2 Bedroom Units | $2,160 |
| 3 Bedroom Units | $2,444 |
Key Points: Overall median rent is approximately $1,895. Rental prices have increased modestly (2% to 4% year-over-year). There are 308 rentals available on MLS®. Market trends indicate a 1% decrease last month and a 3% decrease over the last year.
Gananoque, ON Rental Market Overview
| Unit Type | Average Rent |
|---|---|
| 1 Bedroom Units | $2,132 |
| 2 Bedroom Units | $2,322 |
| 3 Bedroom Units | $1,542 |
Other Options: Studio apartments average around $1,971. 4 Bedroom houses average about $1,338.
Renter’s Tip: Aim to spend no more than 30% of your monthly income on rent.
Niagara Falls, ON Rental Market Overview
| Unit Type | Average Rent |
|---|---|
| 1 Bedroom Units | $1,801 (YoY: +10.2% increase) |
| 2 Bedroom Units | $2,096 (YoY: +8.7% increase) |
| 3 Bedroom Units | $2,444 (estimated) |
Key Insights: Overall median rent is approximately $2,035. The market shows a slight month-over-month decrease and a 7% increase over the last year. Average apartment rent is approximately $1,745.
Peterborough, ON Rental Market Overview
| Unit Type | Number of Listings | Average Rent | Rent Range |
|---|---|---|---|
| 1 Bedroom Units | 4 | $1,684 | $1,542 – $1,796 |
| 2 Bedroom Units | 5 | $2,041 | $1,800 – $2,203 |
| 3 Bedroom Units | 7 | $2,314 | $1,850 – $2,900 |
Market Insights: Total listings analyzed: 16. Popular areas include North End and West End. Common amenities include in-unit laundry, parking, and balconies. Renter’s Tip: Confirm what utilities and internet services are included before signing a lease.
Conclusion
This Ontario Rental Market Report offers a detailed snapshot of rental trends as of February 22, 2025. Whether you’re looking at Trenton, Belleville, Kingston, Cobourg, Oshawa, Scarborough, Guelph, Richmond Hill, Hamilton, London, Gananoque, Niagara Falls, or Peterborough, each market presents unique opportunities and challenges. Understanding the number of listings, average rents, and key highlights for each area can help investors, landlords, and renters make informed decisions.
For more localized insights and expert assistance in navigating these markets, reach out to Blue Anchor Property Management. Our expertise in Central Ontario, along with our detailed knowledge of regional rental trends, ensures you receive the guidance you need to succeed. To learn more about our service areas, visit our Areas We Serve page, and if you’re interested in specific details for Trenton, check out our Trenton page.
Stay informed, plan carefully, and leverage these insights to make smart rental decisions in Ontario.