These Are Some Of The Cheapest Spots To Rent An Apartment Outside The GTA Right Now
If you want affordable city living, these spots are a good place to start.
A new report from liv.rent is helping Ontarians find affordable rent outside the GTA, and you don't even have to move to the middle of nowhere.
According to the rental platform, some of the cheapest cities outside the Toronto area include London, Hamilton, Kitchener, and Niagara, with one-bedroom apartments going for as low as $1,196.
Niagara Falls was the most affordable area listed, with surprisingly low rates for unfurnished two-bedroom units at an average of $1,334 per month, and three-bedroom units at $2,445 per month. These are much cheaper than unfurnished units in Toronto, which average out to $2,453 and $2,617 per month, respectively.
Trailing right behind is London, Ontario, where the average rent for an unfurnished one-bedroom apartment is $1,255 per month, with a two-bedroom apartment going for $1,819 and a three-bedroom going for $2,611.
Meanwhile, the average rents of one-bedroom apartments in Kitchener and Hamilton, which are located just outside the GTA, are at higher rates of $1,591 and $1,386 per month, respectively — which is still nowhere the 6ix.
However, it's worth noting that the Greater Toronto Area has seen rental rates drop this month after spiking in December.
"Prices have largely returned to more normal levels in key areas, led by sweeping drops in rental averages in Downtown Toronto itself," liv.rent states in their report.
In December, the Zumper Canadian Rent Report, a study that monitors rental data from the 24 most populated metropolitan areas in Canada, also singled out London and Hamilton among the cheapest spots to rent in Ontario, alongside St. Catharines in the Niagara region, Kingston and Windsor.