The 10 Canadian Cities with the Cheapest Rents

Which Canadian cities have the cheapest rent prices for immigrants to Canada and international students?

Finding cheap and affordable rental housing remains a significant challenge facing newcomers to Canada.

Locating that first place to rent is an increasingly significant part of the settlement process (in addition to finding a job) when choosing a city to call home.

A 2024 Rentals.ca survey of renters showed price increasingly matters to newcomers and domestic Canadians.

The Rentals.ca survey also discovered that 69 percent of respondents cited the unaffordability of rentals in their region as their reason for moving. Also, 19 percent of survey participants indicated interest in moving to a new (cheaper) city.

Part of the challenge for newcomers is that rent prices across Canada continue to rise, although more slowly now, particularly in the popular gateway cities of Toronto/GTA and Vancouver/GVA.

Also, vacancy rates in the most popular Canadian cities are at historic lows (nearing 1 percent), though some cities, particularly large ones such as Toronto and Vancouver, and cities with universities have witnessed a slowing of rent price increases and slightly more availability.

Popular Toronto is Canada's third most expensive city for rent prices

According to the most recent report from Rentals.ca and Urbanation, in August of 2024, many major markets across Canada saw annual rent increases, which led to an average national high of $2,187, down slightly from $2,201 per month in July.

Nationally, the average asking rent for all residential property types in Canada rose by 3.3 percent year-over-year.

Immigration has increased rental demand

Canada's population grew by 96,000 in August, and the country is on track to welcome 485,000 newcomers in 2024 and another 500,000 in 2025.

Canada also remains home to a record number of international students and temporary workers (although the admission quotas for the number of students and temporary workers have been tightened).

Immigration has helped make Canada's rental market very competitive.

So, where should newcomers and students arriving in Canada settle and rent?

Western cities have the cheapest rents

According to the Rentals.ca report, in August 2024, the mid-sized cities with the cheapest rents were in Western Canada.

Five of the ten cheapest mid-sized cities are in the western provinces of Manitoba, Saskatchewan and Alberta.

Windsor is still the cheapest place to rent among Ontario's popular mid-sized cities, followed closely by St. Catharines.

According to the latest 2024 Rentals.ca report, in August, six of the top 10 most expensive Canadian cities for rent were in Ontario, all in the GTA.

Here are the 10 Canadian mid-sized cities with the cheapest rents, according to Rentals.ca:

1 - Saskatoon, Saskatchewan

The province's largest city, home to the University of Saskatchewan, is where a one-bedroom apartment rents for $1,218. Saskatoon consistently ranks among Canada's cheapest mid-sized cities for housing prices.

Located on the banks of the South Saskatchewan River, Saskatoon is a multicultural city affectionately known as the City of Bridges.

A two-bedroom in Saskatoon costs an average of $1,469 a month. That's up 0.7 percent from July.

Cheapest mid-sized cities for rent in Canada

2 - Fort McMurray, Alberta

Fort McMurray, Alberta, is closely associated with the oil sands industry, which is the city's No. 1 employer. The service area is the heart of one of Canada’s major oil production hubs.

"Fort Mac" is in northern Alberta, 435 km northeast of Edmonton and 60 km west of the Saskatchewan border.

A one-bedroom apartment in Fort McMurray currently rents for $1,255, up 0.5 percent from July. A two-bedroom is $1,449, up 1.6 percent.

3 - Regina, Saskatchewan

In Regina (the province's second-largest city in the heart of the Prairies), a one-bedroom apartment costs $1,317 monthly, down 1.3 percent from July. A two-bedroom apartment costs $1,536, down 0.3 percent month over month.

4 - Winnipeg, Manitoba

Known as the “Gateway to the West,” Winnipeg is Manitoba's capital and the province's largest city. It is located in the eastern part of the Canadian Prairies in Western Canada.

Originally a trading post for Indigenous people before the arrival of European settlers, The 'Peg is a railway and transportation hub with a diversified economy. Winnipeg became home to thousands of newcomers and is known as a multicultural city (Canada's sixth largest).

A one-bedroom apartment in Winnipeg, home to the Winnipeg Jets of the National Hockey League, costs $1,399 (down 3 percent from July). A two-bedroom apartment rents for $1,775, down 1.3 percent.

The Winnipeg Jets of the National Hockey League play in one of the fastest-growing cities in Canada

5 - Edmonton, Alberta

Edmonton is the capital of Alberta and the second-largest city in the province after Calgary. Rich in Alberta's massive oil, gas, and oil sand reserves, Edmonton is called the “Oil Capital of Canada.” It's also home to the NHL's recent Stanley Cup finalists, Edmonton Oilers.

A one-bedroom rents for $1,376 (down 0.9 percent from July), while a two-bedroom rents for $1,704 (down 0.7 percent).

6 - Quebec City, Quebec

According to Rentals.ca, Quebec City, the capital of La Belle Province, offers one-bedroom apartments for $1,504 and two-bedroom apartments for $1,727.

7 - Windsor, Ontario

located in Southwestern Ontario on the United States border with Detroit, Michigan, Windsor is known as the “Automotive Capital of Canada.” A rich agricultural region in Essex County also surrounds the city. Windsor is Canada's southernmost city and is undergoing an economic resurgence. Rent for a one-bedroom is $1,538, and $1,867 for a two-bedroom.

8 - St. Catharines, Ontario

St. Catharines is located on Lake Ontario

Located right beside the City of Niagara Falls in one of Canada's most famous wine-growing regions, St. Catharines is home to Brock University, the Welland Canal (connecting Lakes Erie and Ontario) and within commuting distance of Hamilton and the GTA.

According to Rentals.ca, a one-bedroom is $1,677, while a two-bedroom is $1,967.

9 - Brantford, Ontario

Located near Hamilton on the Grand River, Brantford is named after Joseph Brant, a Mohawk leader, soldier, farmer, and slave owner. A one-bedroom in Brantford costs $1,765 monthly, while a two-bedroom rents for $1,996.

10 - Montreal, Quebec

Montreal, Quebec is one of Canada's oldest settlements

Montreal, the largest city in Quebec, is set on an island in the Saint Lawrence River. It is named after Mt. Royal, a triple-peaked hill. A one-bedroom apartment costs $1,740, and a two-bedroom apartment costs $2,276.

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And what are the top three most expensive places to rent in Canada? Vancouver is No. 1, at $2,708 a month for a one-bedroom (down 1.9 percent from July); Burnaby, B.C. is No. 2, at $2,500 a month (down 2.6 percent), and Toronto is No. 3, at $2,428 monthly (down 0.6 percent).

Top 10 most expensive Canadian cities

Canada's most expensive large and mid-sized cities for rent prices

Based on August rent prices, immigrants and international students searching for the cheapest rents should head to the Prairies or southwestern Ontario.

Action Plan for Newcomers:

Register for FREE for Rentals for Newcomers.
Register for our FREE Accommodation in Canada webinar.
Read our latest Housing Newsletter for Newcomers and International Students.

If you have a question, please email us at rentals@prepareforcanada.com

Steve Tustin is the Editor for Rentals for Newcomers and a contributing editor for Prepare for Canada. He is also the former managing editor of Storeys.com and a former senior editor at the Globe and Mail and the Toronto Star.

*No AI-generated content was used in the writing of this story, and all sources are cited and credited where possible.