EN - Real Estate

These Are Ontario’s Cheapest Big Cities To Rent In Right Now

You could be renting for as low as $910.

If you're looking to rent your own apartment, prices in Toronto can seem impossible. However, some of Ontario's cheapest big cities to live in have one-bedrooms renting for under $1,000. So, if you're willing to move out of Toronto, you can get so much more bang for your buck. Padmapper put out a May 2020 Canadian Rent Report and the prices in some cities look ridiculously low compared to the intimidating rates we're seeing in the 6ix. Although Padmapper revealed that Toronto's rent prices have actually gone down 2.2% due to COVID-19, the median for a one-bedroom apartment is still going for a steep $2,200 a month. 

Despite the high prices, there are still tons of big cities around Ontario that offer apartments for cheap.

Padmapper took the 24 "most populous metro areas" around Canada and revealed which ones are actually the cheapest. 

If you're looking to save your wallet, Windsor is one of the cheapest big cities to rent from throughout Ontario. 

With the median rent price of $910 a month, that's less than half of what the average Torontonian pays. 

London, Kingston and St. Catharines, all also have one-bedrooms going for under $1,300 a month.

In fact, the median price for an apartment in London is $1,200, making it the second cheapest big city in Ontario. 

Hamilton and Kitchener's apartments are also decently priced, and they go for a median of $1,380 in both cities.

According to Padmapper data, Toronto is the most expensive city in all of Canada if you are looking for a place to rent. 

Another surprisingly expensive city to live in is Barrie, where rent has grown by 4.8% since COVID-19. The rent median in Barrie is now $1,530 as of May 2020. 

However, if you're looking to buy instead of rent, condo prices in Toronto are actually going down.

Some neighbourhoods across the 6ix now have some properties going for under $400,000, so it might be time to start packing your bags!