Here’s the real cost to rent a home in Burlington, Oakville, Milton


Published June 21, 2024 at 10:40 am

Tenants call for province-wide stop to rental increase 'loopholes' in Ontario

Rental prices have never been higher in the GTA, and that is especially true in Burlington, Milton, Oakville and Halton Hills.

Over the summer, is going to take a closer look at the issue by bringing you the stories of those who deal with it every day.

Today we’ll start by looking at what rental units are actually going for on the market.

The average one-bedroom rental property in Halton is more than $2,000 a month. And you can add at least another $500 on top of that for a second bedroom.

But we all know there’s a big difference between what the average says and what’s really out there on the market for those looking for a place to live.

Fred Decarolis, a Milton Realtor for 15 years, the last four with Revel Realty Inc., shared with details of properties that have actually rented over the last two months in Halton.

Milton is the best place to find rentals of one or two-bedroom places, generally basement apartments or small townhouses. In Milton, basement apartments were rented for between $1,500 and $2,000 while two bedrooms were going for $1,650 to $2,250.

“That’s just for freehold properties,” said Decarolis. “Condos are more expensive.”

Generally, condo rentals are in buildings that have extra amenities and often include some of the utilities, hence the higher prices. One-bedroom rentals in that market ranged from $2,150 to $2,500 while two-bedrooms went from $2,500 to about $2,800.

Smaller two-bedroom townhouses rented for between $2,650 and $3,000. Three-bedrooms started at about $2,700 and the majority cost in the low $3,000s per month. A fully-detached three-bedroom went up to about $3,500 while something even larger, four bedrooms and up, ranged from about $3,500 to $4,400.

“Each of the municipalities in Halton is a little different when it comes to the rental market,” said Decarolis. “Milton has, by far, the most basement and smaller two-bedroom units. Burlington and Oakville don’t really have a lot of basement apartments, but far more condos and single-family homes.”

In Burlington, basement apartment supply is limited. One-bedrooms went for about $1,800 while two-bedrooms went up to $2,500. The condo market saw one-bedrooms go for $2,200 to $2,500 and two-bedrooms rent for $2,500 to $3,000.

Again in the two-bedroom townhouse market, Burlington simply doesn’t have the supply that Milton does.

“Milton’s growth is more recent, so they have more of these types of properties than Burlington.”

Three-bedroom townhouses go for $3,000 to $3,700 per month while larger houses range up to $5,000.

The Oakville market is even more extreme. There are basically no basement apartments there. “But so many condos, especially as the areas along Dundas Street continue to be developed.”

In fact, there was so much data that Decarolis could only provide 30 days worth. “There was too much to look at 60 days.”

One-bedroom condos were solidly in the $2,100 to $2,250 range with two-bedrooms going for $2,700 to $2,800.

Two-bedroom townhouses start at about $2,800 into the mid-$3,000s. Three-bedroom houses range from $3,000 to the low-$4,000s and four-bedrooms are above $3,600, well into the $5,000s.

Next time, we’ll tell you why it’s best to deal with a Realtor when looking for a rental.

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