Canada names cities with affordable rents
National rent rankings published – three Ontario cities have made the list of most affordable.
Rental prices are slowly recovering from a decline during the pandemic. This has led to some Canadian residents migrating out of Toronto in search of more affordable housing.
Right now, the most affordable cities to rent in Ontario are London, Windsor and Kingston. While you can rent a one-bedroom apartment in Toronto for $1,938 CAD, you will pay $1,304 CAD for the same apartment in London, $1,325 CAD in Windsor and $1,358 CAD in Kingston.
A representative of the Rentals.ca platform, on the basis of which the rating was compiled: If a renter decides to move to Windsor, a 500 sq ft (46.5 sq m) apartment would be $500 CAD cheaper than one in Toronto. An 800 sq ft (74 sq m) apartment would be $900 CAD and a 1,000 sq ft (93 sq m) apartment would be $1,300 CAD cheaper.
It is obvious that real estate prices will only increase. Many people are seriously considering whether it is really worth buying their own home now. We decided to tell you how you can save more than $700 CAD per month by making the tough choice between buying or renting. Read more here.
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