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London Ontario one of the most affordable Ontario cities for renters

For Rent London Ontario

The average monthly asking rent for Canada rose 4.3 percent year over year at the end of December, according to the January National Rent Report from and Bullpen Research & Consulting.

London tied for 17th of 30 cities listed with Fort McMurray for average monthly rent for a one-bedroom in December at $1,195 but had much higher average monthly rent than the Alberta city ($1,250) for a two-bedroom at $1,643. 

Only Kitchener finished lower than London of 12 Ontario cities for average monthly rent for a one-bedroom home in December at $1,189.

The nation’s three largest cities experienced significant rent increases in 2019 for all property types listed on Toronto at 9 percent; Montreal at 25 percent and Vancouver at 11 percent. 

In Vancouver, higher-rent condominium apartment listings on in 2019 exceeded those in 2018 which pulled up the average rents. But Vancouver rent growth was impressive given the slump in the for-sale housing market in the early part of 2019. 

And what about Toronto? It’s just expensive to find a place to live there. 

Young tenants in all three municipalities are looking for walkable downtown communities where they can live without the expense of owning and parking a car  — and without a crippling commute. To deal with affordability, young professionals are squeezing into smaller units and living with roommates well into their 30s. 

Rental affordability is expected to get worse in 2020 in Ontario and British Columbia, despite an increase in new rental apartment construction, and the crackdown on empty units and AirBnB in several markets. is forecasting more modest rental growth in 2020 versus 2019, but the expectation is average rents will grow faster than inflation in most major markets outside of Alberta and Saskatchewan.’s recently published 2020 Rental Market Predictions report, forecasts Canada’s average rental rates will increase 3 percent year over year. 

With Bullpen Research & Consulting, also forecasts annual rental rates could increase in 2020 by as much as 7 percent in Toronto, 5 percent in Montreal, 4 percent in Ottawa and 3 percent in Vancouver.

In the January report, Toronto had the priciest average monthly rent of the 30 cities on the list for a one-bedroom home at $2,299 and for a two-bedroom at $2,914.

St. John’s had the lowest average monthly rent of the 30 cities for a one-bedroom home at $885, and Lethbridge finished with the most affordable average monthly rent for a two-bedroom at $1,022. 

The average rent for Canadian properties listed on in December 2019 was $1,854 per month, a decrease of 3.3% monthly (even with an annual increase of 4.3 percent). 

“As more families continue to rent as opposed to buying, we see renters for larger homes are willing to sacrifice their ability to take transit or walk to get their groceries in favour of being near a quality school,” says Vincent-Charles Hodder, CEO of Local Logic. “We expect the rental markets to perform strongly in areas close to schools in 2020.” Below is a Toronto specific chart showing renters’ interest. The sample includes about 5.5 million listing views coming from around four million users.

Other takeaways from the January National Rent Report include: 

  • Eight of the top 10 most expensive cities for renters searching for a one-bedroom home are in Ontario.
  • On a provincial level, Ontario had the highest rental rates in the fourth quarter of 2019, with landlords seeking $2,318 per month on average for all property types. Ontario also has the highest share of condominium apartment listings at 37 percent of the provincial total.  British Columbia had the second-highest rental rate at $1,928 per month, while Newfoundland and Labrador had the lowest at $954. 

 “Many Canadians both young and old are choosing to rent for lifestyle reasons,” says Ben Myers, president of Bullpen Research & Consulting. “Evan Siddall, president and chief executive of Canada Mortgage and Housing Corporation, recently said that the glorification of homeownership is counterproductive economically and socially.

“Developers across the country are recognizing this shift in mentality away from homeownership, as the number of rental apartment starts topped 54,000 in Canada in 2019, marking the 10th consecutive year of rising new construction activity.” 

“A logjam of tenants is clogging the bottom of the market,” says Matt Danison, CEO of  “They are seeking the least expensive properties, often far from transit and their jobs.

I work with quite a few investors and the vacancy rate is less than 2% in London, my clients have zero vacancies with waiting lists. 

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Ty Lacroix

"Not All Realtors Are The Same"! This website and content are for you and are designed and constantly upgraded with the latest real estate trends, how-tos, and what is for sale on MLS. Our primary focus is guiding home buyers and sellers to make good decisions. We believe selling real estate is a process, not an event or knee-jerk reaction; we sleep well at night and ensure our clients do as well! We are not for everybody, nor can we please everybody, nor do we tell people what they want to hear; I know that may be old-fashioned and boring, but we are dealing with hundreds of thousands of your hard-earned money. Would you rather be happy, excited and bored or unhappy, excited and make a poor choice? About Ty I am a Broker with Sutton Group Preferred Realty Inc., Brokerage and the team leader for The Envelope Real Estate Group, that's enough about me! You see, this is about you, you do not want to hear blah blah stuff about awards, designations, or that we walk older adults across the street (I used to help old ladies cross the street, but as I got older I did not want my wife to think I was flirting) the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; success leaves clues!

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