The rental market in Canada is shifting, with mid-sized cities becoming hotspots for renter interest, according to the latest RentCafe report.
Winnipeg has emerged as the most sought-after city for renters in the third quarter of 2024, topping the list of Canada’s trending rental destinations.
Trailing Winnipeg, cities like Saskatoon and Edmonton garnered love from renters, while Victoria and Ottawa rounded out the top five. RentCafe scored cities based on availability, listing views and saved searches.
Affordable living in the Prairies draws renters nationwide
Winnipeg earned a perfect score of 100 in RentCafe’s analysis, marking it as the top destination for renters. Key factors include the city’s affordability, and an economy spanning manufacturing, education, and healthcare. Renters from across Canada—particularly from Toronto, Calgary and Vancouver— frequently saved listings as favourites
Similarly, Saskatoon claimed the second spot with a score of 90.49. The city saw a 27 per cent increase in listing views and a 34 per cent rise in favourited properties compared to last year. Saskatoon appeals to young families and professionals, offering a combination of affordable housing and economic opportunity.
Edmonton stands out among major cities
Among Canada’s larger cities, Edmonton is a clear standout, ranking third overall with a score of 88.88. Edmonton’s energy-based economy, affordability and growing population have made it a magnet for renters. The city recorded the highest number of favourited apartment listings nationwide, reflecting renters’ confidence in their housing options.
This contrasts sharply with the performance of Toronto, Vancouver and Montreal, where renter interest has “plateaued.” While these major cities remain popular, their year-over-year growth in engagement is more subdued due to their already well-established rental markets.
Smaller cities see bigger gains
Beyond the Prairies, other mid-sized cities like Victoria and Ottawa are also trending. Victoria ranked fourth thanks to a 34 per cent rise in favourited listings and significant interest from renters in Toronto and Vancouver. Meanwhile, Ottawa secured fifth place despite a decline in page views as listings were frequently favourited.
Ontario dominates the top 10
Ontario solidified its position as a prime rental market, with Kingston, London and Niagara Falls joining Ottawa in the top 10. According to RentCafe, Kingston’s appeal lies in its tight rental market and proximity to major academic institutions, while London benefits from its affordability and growing tech and agri-food industries.
Toronto, Vancouver and Montreal rank 21, 22 and 23, respectively. RentCafe notes the majority of renter interest comes from locals and in-province apartment hunters.
