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 is perhaps the major challenge facing immigrants in Canada.

Tracking down 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).

The results of this U.S. renter survey mirror a 2024 poll by Rentals.ca

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

Nationally, average asking rents rose 0.8 percent month-over-month in July.

Newcomers continue to drive rental demand

Canada plans to welcome 485,000 newcomers in 2024 and 500,000 in 2025.

Canada remains home to a record number of international students and temporary workers (although the rules for the number of students and temporary workers being admitted have been tightened).

So, where should newcomers and students settle and rent?

Cheapest Places to Live Are in Western Canada

Once again, in July 2024, the mid-sized cities with the cheapest rents were in Western Canada.

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

Windsor is the cheapest place to rent among Ontario's popular mid-sized cities ($1,528 for a one-bedroom), followed closely by Niagara Falls, another city on the U.S.-Canada border, where you'll pay $1,631.

According to the July 2024 Rentals.ca report, seven of the top 10 most expensive Canadian cities for rent are in Ontario, almost 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 $1,216. 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 $1,458 a month. That's down 0.3 percent from June.

The 10 Canadian mid-sized cities with the cheapest rents in July 2024

2 - Fort McMurray, Alberta

Fort McMurray, Alberta, is closely associated with the oil sands industry. The oil industry is Fort McMurray'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 $1,249, down slightly from June. A two-bedroom is $1,426, also up slightly.

3 - Regina, Saskatchewan

In Regina (the province's second-largest city in the heart of the Prairies), a one-bedroom apartment costs $1,334 monthly, up 1.0 percent from June. A two-bedroom apartment costs $1,541, up 0.2 percent month over month.

4 - 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 $1,389 (up 1.5 percent from June), while a two-bedroom rents for $1,716 (up 0.4 percent).

5 - 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 $1,442 (down 0.1 percent from June). A two-bedroom apartment rents for $1,799, down 2.1 percent.

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

6 - Quebec City, Quebec

According to Rentals.ca, Quebec City, the capital of La Belle Province, offers one-bedroom apartments for $1,458 and two-bedroom apartments for $1,649.

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 $1,528, and $1,855 for a two-bedroom.

8 - Laval, Quebec

Situated in the southwest of the province, north of Montreal, Laval is the largest suburb of Montreal and the third-largest city in the province after Montreal and Quebec City. A one-bedroom apartment in Laval costs $1,592, and a two-bedroom apartment costs $2,089.

9 - Niagara Falls, Ontario

This city is a world-famous tourist destination. It also features some of the best housing deals in the province and is within commuting distance of Hamilton and the GTA. It's also across the Niagara River from New York State (and Buffalo, N.Y.). A one-bedroom rents for $1,631; a two-bedroom rents for $2,021.

10 - 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 $1,713, while a two-bedroom is $1,969.

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In the future, Canada's continuing ambitious immigration targets and the flow of refugees from Ukraine, Afghanistan (and perhaps Gaza and Israel) are expected to have a significant impact on rental markets and prices.

And what are the top three most expensive places to rent in Canada? Vancouver is No. 1, at $2,761 a month for a one-bedroom; Burnaby, B.C. is No. 2, at $2,566 a month, and Toronto is No. 3, at $2,443 monthly.

Canada's most expensive cities for rents

The 10 Most Expensive Cities in Canada for Rent Prices, July 2024

Based on July rent prices, immigrants and international students may want to head to the Prairies or southwestern Ontario for those cheap rents.

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.