The 10 Canadian Cities with the Cheapest Rents

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

Finding cheap and affordable rental housing is a significant goal and challenge for newcomers to Canada.

Renting that first home is a critical part of the settlement process (in addition to finding a job) for newcomers to Canada when choosing a city to call home.

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

The Rentals.ca survey also found that 69 percent of respondents cited the unaffordability of rental properties 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—although falling steadily in the large gateway cities and regions of Toronto/GTA and Vancouver/GVA—remain high, making affordability an obstacle.

Rental prices and demand are falling

Also, vacancy rates in the most popular Canadian cities remain at historic lows (some nearing 1 percent!). However, some cities, such as Toronto and Vancouver, and cities with universities, are witnessing a slowing of rent price increases and more rental availability.

However, prices across Canada remain high and continue to rise in some mid-sized cities in Ontario and B.C. For example, rent prices for a one-bedroom in Niagara Falls rose 3.1 percent in October. Newcomers must do their homework.

Toronto remains popular with newcomers despite being expensive

According to the most recent report from Rentals.ca and Urbanation, in October 2024, asking rents for all residential property types in Canada averaged $2,152, a 1.2 percent drop from October 2023. That's the first year-over-year rent decline since July 2021.

The average national high in September was $2,193, up slightly from $2,187 per month in August.

So, for now, asking rents are trending downward as Canada transitions slowly into a renters market.

Newcomers have helped drive rental demand

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

Now, partly to ease the rental housing crisis, Canada has reduced its permanent resident target from 500,000 to 395,000 in 2025, down to 380,00 in 2026, and set a target of 365,000 in 2027.

The Canadian government has also capped international student permits and limited the number of temporary foreign workers allowed into Canada.

These revised policies and lower inflation and interest rates are expected to impact rental demand and prices through 2025.

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

Western Canada has the cheapest rents

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

Six 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.

Two Rentals Solutions for International Students

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

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

These are the mid-sized Canadian cities with the cheapest rents in October, according to Rentals.ca

1 - Fort McMurray, Alberta

Fort McMurray, Alberta, is closely associated with the oil sands industry, 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. It is currently Canada's cheapest mid-sized city for rent prices.

A one-bedroom apartment in Fort McMurray currently rents for $1,218, down 1.7 percent from September. A two-bedroom is $1,404, down 0.6 percent.

2 - Saskatoon, Saskatchewan

The province's largest city, home to the University of Saskatchewan, is where a one-bedroom apartment rents for $1,293 (down 1.5 percent from September). 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.

An average two-bedroom in Saskatoon costs $1,404 a month, down 0.6 percent from September.

3 - Regina, Saskatchewan

In Regina (the province's second-largest city in the heart of the Prairies), a one-bedroom apartment costs $1,296 monthly, down 2.5 percent from September. A two-bedroom apartment costs $1,467, down 4.7 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 $1,382 (down 2.8 percent from September). A two-bedroom apartment rents for $1,770, 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 $1,384 (down 1.7 percent from September), while a two-bedroom rents for $1,703 (down 0.8 percent).

6 - Quebec City, Quebec

According to Rentals.ca, Quebec City, the capital of La Belle Province, offers one-bedroom apartments for $1,429 and two-bedroom apartments for $1,811.

7 - Windsor, Ontario

Windsor currently has the cheapest mid-sized city rent prices in 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 $1,549 (down 0.8 percent from September), and $1,786 for a two-bedroom (down 2.3 percent).

8 - Calgary, Alberta

Calgary is Alberta's largest city, with a population of about 1.5 million. In recent years, it has become a popular landing spot for immigrants to Canada and Canadians living in other provinces mainly because of housing costs that are much lower than those in Toronto and Vancouver. It is home to the Calgary Flames of the National Hockey League. A one-bedroom unit in Calgary rents for $1,658, down 2.0 percent from September. A two-bedroom costs $2,004, also down 3.4 percent from September.

Drone footage by LvFree Adventures

9 - Laval, Quebec

Laval is the largest suburb of Montreal and the third-largest city in Quebec, with a population of 443,192. Laval's economy is centred around the service sector and has a solid manufacturing base. A one-bedroom unit in Laval costs $1,672, while a two-bedroom is $2,135.

10 - St. Catharines, Ontario

St. Catharines hosts a major grape and wine festival in September

St. Catharines is located in the Niagara Region of Ontario on the shores of Lake Ontario, right beside Niagara Falls and in the heart of Ontario wine country. Known as the Garden City, it is also minutes from the Canada-U.S. border, 128 kilometres from Toronto and just 37 kilometres from Buffalo, New York. It connects to Toronto and the GTA by GO Train and the Queen Elizabeth Highway. A one-bedroom in St. Catharines rents for $1,681 (down 1.1 percent from September). A two-bedroom is $1,994, down 0.9 percent.

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And what are the top three most expensive places to rent in Canada? Vancouver is still No. 1, at $2,610 a month for a one-bedroom (down 1.5 percent from September); Burnaby, B.C. is No. 2, at $2,398 a month (down 3.8 percent), and Toronto is No. 3, at $2,380 monthly (down 0.9 percent).

Top 10 most expensive Canadian cities

These cities had the most expensive rents in Canada in October 2024

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

Action Plan for Newcomers:

Research rental housing prices and properties in Canada before arriving
Plan how to make a good impression on a landlord
Budget AT LEAST 30 percent of your monthly income for rent
Cities with cheaper asking rents usually have lower house prices as well
Consider using a settlement agency to help with your transition to Canada

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.