3 cheapest cities for renters in Ontario

A new rental trends report reveals where to find the cheapest places in Ontario and Canada.

The just-released 2026 Annual Rental Trend Report from digital rental platform, liv.rent, provides an overview of rental market trends across Canada.

The report looks at rent declines, housing supply slowdowns and shifting migration patterns.

Across Canada, the rental vacancy rose to 3.1 per cent as immigration declined 18 per cent year-over-year, the report found. At the same time, housing-start activity has weakened in many cities.

“Combined with rising project cancellations and multi-year development timelines, today’s slowdown in construction could risk creating a renewed supply shortfall within the next two to three years,” the report notes.

In 2025, Ontario recorded a net loss of 178,978 non-permanent residents, reversing a net gain of 99,347 in 2024.

Housing starts in Ontario fell 17 per cent year-over-year in 2025, with declines recorded across all housing types, including a nine per cent drop in apartment construction.

“The province is facing a significant slowdown in homebuilding, driven by a combination of high taxes and fees and weakening demand for condominium units, which has led many projects to be delayed or cancelled,” the  report notes.

Rents are down across Canada. Ontario’s average monthly rent for an unfurnished one-bedroom unit is $1,888, down by  per cent year-over-year.

But the Greater Toronto Area remains expensive for renters, with the top three most expensive cities being Markham, Burlington and Mississauga.

The cheapest city is St. Catharines, with an average rent for a one-bedroom place at $1,599. London and Hamilton round out the top three.

Despite appearing in the top three most expensive places, Mississauga is also among the cities with the biggest price declines. York Region, Vaughan, Richmond Hill and Scarborough also saw big price declines.

Niagara Falls was an outlier in Ontario.

“Niagara Falls was the only city in Ontario to buck the downward rental trend, posting year-over-year rent increases across all rental types,” the report found.

Across Canada, the most expensive places to rent are all in British Columbia. The cheapest city is Winnipeg with an average rent of $1,291 for a one-bedroom place.

See the 2026 Annual Rental Trend Report here.