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With Square Yards Canada, you can explore ideal properties in Peterborough. Search for your options 1 rental condo apartment, 0 townhouse condos for rent, 4 rental townhouse, office space for lease, 18 detached and 0 semi-detached houses for rent in Peterborough.
About 128 km northeast of the great Toronto lies the beautiful township of Peterborough, neatly situated on the banks of the Otonabee River of Ontario. The fact that there is a myriad of amenities available in this township gives reasonable grounds for anyone to look for homes, whether they are new purchases or rentals. Whatever the scenario, Peterborough is a hot locality for the real estate market in terms of growth potential and investment diversification. Currently, the township has 83,651 people as of the 2021 census read. Moreover, the locality covers about 64.76 km2 (25.00 sq mi) of land, 12.67 km2 (4.89 sq mi) of water, 54.58 km2 (21.07 sq mi) of the urban area, and 1,508.44 km2 (582.41 sq mi) of the metropolitan area.
The Peterborough housing market consists of residential communities, farmlands, towns, villages, hotels, and lake-side resorts. Residential properties for rent in Peterborough include all the property types, such as detached houses, semi-detached houses, townhouses, condos, apartments, and so on.
One of the major factors affecting the average rental price of properties in Peterborough is not only the size of the property but also the location.
If a person needs to afford the housing rentals provided, experts came up with a calculated income threshold which is as follows.
The county of Peterborough is divided further into eight municipalities or townships, which are a great prospect for home-buying and renting. Here is a list of the top Peterborough neighbourhood with the best rentals.
The average lease price in Peterborough county can range from CAD 1,350 to CAD 2,199. The price by property type is as detailed below.
| Studio Apartments | CAD 1,350 |
| 1-Bedroom | CAD 1,581 |
| 2-Bedroom | CAD 1,846 |
| 3-Bedroom | CAD 2,199 |
| 4-Bedroom | Not disclosed due to confidentiality |
With the studio rooms, one can expect a 50% year-on-year change. The prices can fluctuate as much due to market conditions and locality.
Furthermore, the same cannot be said about 1-bedroom apartments as there is only a 13% year-on-year change. This is because studios are more preferred by individuals and more frequently vacated. Slightly more is the 2-bedroom and 3-bedroom apartments, as there is a 14% hike every year as families prefer these.
Before further addressing the current Peterborough real estate market scenario, take a moment to understand how the market prices stood a couple of years ago. This can be vital as we will know how the current market conditions came to be. Speaking of the pandemic year, which was the most volatile period in the real estate market, the rental structure kept increasing in terms of pricing. The following particulars can be summed up about Peterborough rent price.
The average rate increased steadily for the fourth back-to-back year. Seeing this increase, authorities also expressed their concerns by saying that increasing rental prices are merely taken for granted by people with privilege. This, however, can affect people with lower incomes. This had some impact on the data that is explored below.
The county of Peterborough is divided further into eight municipalities or townships, which are a great prospect for home-buying and renting. Here is a list of the top Peterborough neighbourhood with the best rentals.
If one is looking for pet-friendly homes in Peterborough, the best option perhaps will be detached and semi-detached home types. This can be instrumental in giving pets ample space to move around and feel more comfortable. In an apartment setting, pets can feel a bit clustered and claustrophobic.
Peterborough is mostly occupied by people from other places and settling. This mainly owes to the fact that the township of Peterborough is more closely located in some of the densely populated towns in Ontario, such as Toronto, Kawarthas Lakes, and Kingston. To show in data, the following details apply.
The average indigenous occupant’s occupants household income has been noted as CAD 40,701 with a median household income as CAD 31,499 and an average rent pay as CAD 930. The non-indigenous renter’s household income has been noted as CAD 43,082, with a median household income of CAD 34,018 and an average rent they pay as CAD 961.
Moreover, about 57% of indigenous occupants are noted to be paying more than 30% of their household income on rent, with only 52% of non-indigenous occupants doing the same. Lastly, about 27% of the indigenous occupants are noted to be paying more than 50% of their household income on rent, with only 23% of non-indigenous renters doing the same. This clearly shows that non-indigenous individuals and families are more likely to rent a place in Peterborough county because of their popularity in the township.
The average monthly rental in Peterborough ranges from CAD 1,300 to CAD 1,600.
Renters will be required to produce a business license as per the law.
The average rent for two and 3-bedroom houses in Peterborough range from CAD 1,846 to CAD 2,199.
The most popular space to rent out in Peterborough has been the studio apartment types which span about 37 sq. m.
Yes, free rental listings can be explored with the Squareyards brokerage in Peterborough.
The landlords in Peterborough have been hiking the rentals yearly due to the pressure of keeping up with the market trends.
One may rent a property for a year in Peterborough with advance notice.
There are studio apartments, 1-bedroom apartments, 2-bedroom apartments, 3-bedroom apartments, and 4-bedroom apartments available in Peterborough county on a rental basis.
A condo rent can cost a person from CAD 2,049 to CAD 3,100.
A townhouse can be rented in Peterborough for about starting price of CAD 2,250.
