Houses for Rent in Ottawa, ON

In Ottawa, the housing stock is split between owners, who live primarily in single detached homes that occupy the majority of the City's land, and renters, who live primarily in apartments concentrated in transit-accessible districts. Between 2016 and 2018, the number of rental units on the market increased by about 1%, but the population of people living in rental housing increased at a greater rate of 2.9% during the same time period. Due to this, apartment rents increased by 7.8% over that period, home rents increased by 7.8% over that period, and home rents increased by 11.3%.

The increase in rent is due to the population growing more quickly than the housing supply, earnings generally rising, and in some regions, the quick expansion of short-term rentals as an alternative usage. Rental stock market report for Ottawa. The geographic concentration of rental housing mirrors the geographic concentration of the households under pressure to find affordable accommodation. Currently, 40% of households are renters, and it is anticipated that number will go up in the long run.

For those seeking for a property in a large city that is less expensive than most, Ottawa has historically been a favourite. However, that is currently altering. The lack of housing in the city is currently causing bidding wars for buyers and increasing rent prices. Before it gets better, this scenario is simply going to grow worse. Given that, if you're having problems locating a place in the city, you might want to seek outside of Ottawa itself for choices.

Average Rental Price by Property Size in Ottawa

Since 2016, rentals have increased significantly for the City of Ottawa, jumping by 11.2% for detached homes and 7.8% over a two-year period for apartments. Consequently, the typical rent for a three-bedroom home rose from $1,547 in 2016 to $1,737 in 2018.

When examining particular home types, geographic analysis of typical rentals in the City of Ottawa reveals consistent trends. However, Ottawa offers an intriguing contrast in that some suburban areas exhibit relatively expensive rental markets – Kanata/Stittsville, for example, has higher rental costs than downtown neighbourhoods like the Glebe. Rents are typically higher near the downtown core and in areas close to public transportation.

Top Neighbourhoods with Best Rentals in Ottawa

Top neighbourhoods with the best rentals in Ottawa are listed below:

Avg. Furnished & Un-Furnished Rentals in Ottawa

Not all living arrangements are created equal, just as not all housing possibilities are. Your house must accommodate your demands and way of life. To discover the ideal fit, look through the choices below.

• Furnished

Are you moving to Ottawa but lack furniture? Ottawa furnished apartments for rent offer a wide range of choices for you. Ask for fresh photos and information on the property's amenities because not all furniture is of the same calibre. The average rent for furnished rentals ranges from $2,000 to $ 3,500.

• Un-Furnished

One of Canada's fastest-growing cities, Ottawa, has experienced rapid expansion. Every area of the city has apartments for rent in Ottawa, so choose your preferred neighbourhood and start looking. One can find a good un-furnished apartment in Ottawa at an average rent of $1,000 to $2,500.

Rental Avg Price History in Ottawa

Currently, $1,679 is the average monthly rent for a 1-bedroom apartment in Ottawa, Ontario. Comparing this to the prior year, there has been a 14% increase. The typical rent for a studio apartment in Ottawa stayed unchanged over the previous month. One-bedroom apartments saw a -1% decline in average rent to $1,679, while two-bedroom apartments saw no change in average rent.

Best Areas / Communities for Rental Properties in Ottawa

Best areas/communities for rental properties in Ottawa are listed below:

• The Glebe
• Sandy Hill
• Centretown
• Little Italy
• Nepean
• New Edinburgh
• Wellington West
• Westboro
• Kanata

Pet -Friendly Rental Homes Options in Ottawa

The city of Ottawa was designed to be particularly pet-friendly. Every neighbourhood has access to parks and recreational places. Look through Ottawa's pet-friendly apartments to locate the perfect one for your requirements. Always enquire about the landlord's pet policies to avoid unpleasant surprises later.