Finding the perfect rental home that balances affordability, location, and quality of life is no easy feat, especially in today’s housing market.
However, some cities across Canada stand out for offering a renter’s dream combination of features that make life smoother and more enjoyable. According to a recent survey from Point2Homes, these cities have emerged as top destinations for renters in 2024.
Point2Homes conducted a comprehensive analysis of 24 different metrics across three main categories to determine the best cities for renters in 2024. This study included Canada’s 100 largest census subdivisions, as reported by Statistics Canada’s 2021 Census of Population.
The metrics were categorized into economy and housing (including unemployment rate and rentership rate), quality of life (such as crime severity index, air quality, and walk score), and community (measured by the number of museums and restaurants per 10,000 people).
Despite the allure of Canada’s top 10 largest cities like Toronto and Vancouver, none made it to the list of the best cities for renters in 2024. Instead, smaller cities across the country, particularly in Quebec have earned the spotlight.
Key Takeaways:
• St. John’s, NL, tops the list as the best city for renters, followed by Sherbrooke, QC, and Québec City, QC.
• Quebec leads the rankings with seven cities in the top 10 best places for renters.
• New Brunswick also stands out, with Fredericton and St. John making it into the top 10.
• Housing & Economy Hotspots: Quebec dominates this category, with the top 10 cities scoring highest in housing affordability, unemployment rate, and rental inventory all hailing from this province.
• Quality of Life Hotspots: Quebec excels again, with five cities in the top 10 best places for life satisfaction, perceived level of stress, and air quality. Ontario also performs well, securing three spots.
• Community Hotspots: Victoria, BC leads this category, followed by St. John’s, NL, and Vancouver, BC, as cities where residents feel the strongest sense of belonging.
Canada's top 10 cities for renters in 2024:
- St. John's, NL
- Sherbrooke, QC
- Québec City, QC
- Trois-Rivières, QC
- Saguenay, QC
- Granby, QC
- Fredericton, NB
- Saint John, NB
- Saint-Hyacinthe, QC
- Lévis, QC
In Ontario, cities like Whitby, Oshawa, and Clarington were praised for their high quality of life, while North Bay, Aurora, and Kingston were recognized for their strong community scores. These cities offer a blend of affordability, safety, and vibrant community life, making them ideal for renters.
Greater Sudbury claimed the top spot for renters in Ontario, with average rents at $1,159 per month. In comparison, renters in St. John’s, the best city overall for renting, can expect to pay an average of $1,073 each month.
Ontario's top 10 cities for renters in 2024:
- Greater Sudbury (22nd overall)
- Whitby (25th overall)
- North Bay (27th overall)
- Guelph (29th overall)
- Ottawa (30th overall)
- Niagara Falls (32nd overall)
- Kitchener (35th overall)
- Welland (36th overall)
- St. Catharines (37th overall)
- Chatham-Kent (38th overall)
For renters looking to find their ideal home, these insights from Point2Homes offer a valuable guide to the top spots in Canada, where renters can find the right balance of affordability, quality of life, and community engagement to create an exceptional living experience.
You can learn more about the report's findings here.
