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's data, some of the cheapest cities outside the Toronto area include London, Hamilton, Kitchener, and Niagara, with one-bedrooms 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 $1,334 and three-bedroom units at $2,445. These are much cheaper than units in Toronto, which average out to $2,453 and $2,617 respectively in both categories.
Trailing right behind is the City of London, Ontario, where the typical unfurnished one-bedroom goes for $1,255, with two bedrooms going for $1,819 and three bedrooms going for $2,611.
Meanwhile, one-bedroom apartments in Kitchener and Hamilton, which are located just outside the GTA, go for higher rates of $1,591 and $1,386 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 located in the Niagara region, Kingston and Windsor.