Where Are Canadian Renters Getting the Most Space Per Dollar?

Sunrise in Saskatoon, Saskatchewan with buildings along the river.

Finding a rental that balances price and space is a challenge these days, especially in Canada’s bustling housing market. With rents skyrocketing, renters across the country are eager to find cities that offer affordable, spacious living options.

A study by the ViewHomes Team — a division of London, ON-based real estate firm Nu-Vista Premiere Realty Inc. — took a deep dive into rental data from 41 Canadian cities to assist potential tenants in making better choices. It uncovered the best spots for renters to get the biggest bang for their buck in terms of square footage.

Let’s take a look at the cities that made the Top 10.

Buildings and a park at night in Regina, Saskatchewan. — Getty Images

1. Regina, SK

If you’re looking for value, Regina is the place to be! At $1.76 per square foot, you can snag a 756-square-foot apartment for about $1,333 monthly. The provincial capital boasts a more affordable cost of living than many other Canadian cities, a growing economy and a friendly, community-oriented atmosphere.

2. Sherbrooke, QC

Sherbrooke is the runner-up with a price of $1.93 per square foot. Renters in this southern-Quebec city get a bit more space, with average apartments around 825 square feet costing about $1,595 each month. In addition to the lower cost of living, Sherbrooke offers a unique blend of Quebecois culture, a vibrant university town atmosphere and beautiful natural landscapes.

Sunset in Laval over Illumi — Getty Images

3. Laval, QC

Laval takes the third spot, providing almost 900 square feet for $1.96 per square foot, which totals around $1,756 a month. It’s a great way to stretch your budget compared to living right in Montreal, and you still have the convenience of the Metro to get into the city whenever you want.

4. Fort McMurray, AB

Alberta’s Fort McMurray earns the fourth spot on the list with a rental cost of $2.04 per square foot. Renters here pay $1,576 per month for apartments averaging 773 square feet. The city offers a high earning potential in the resource sector, a close-knit community and access to vast wilderness areas for outdoor enthusiasts.

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5. Brossard, QC

In fifth place is Brossard, QC, where you can enjoy large 893-square-foot apartments for a rate of $2.13 per square foot, which comes to roughly $1,907 a month. Brossard is part of the Greater Montreal area, located right across the St. Lawrence River on the South Shore. It’s a great spot to enjoy city access while paying less than half the price per square foot compared to the island.

Early morning skyline and South Saskatchewan River in Saskatoon. — Getty Images

6. Saskatoon, SK

Coming in sixth place, Saskatoon in Saskatchewan has a rate of $2.14 per square foot. Renters can expect to pay about $1,765 for an average apartment that measures 823 square feet. Saskatoon offers a unique blend of affordability, a thriving job market and a friendly atmosphere, making it an attractive option for renters seeking a balanced lifestyle.

7. Peterborough, ON

In Peterborough, you’ll pay $2.33 per square foot, and the typical mid-sized apartment is around 855 square feet, costing $1,990 a month. Peterborough offers renters a more affordable cost of living compared to larger Ontario cities, combined with access to beautiful natural surroundings and good schools like Trent University.

Waterfront luxury condominiums and Harbor in Downtown Nanaimo, British Columbia. — Getty Images

8. Nanaimo, BC

Renters in Nanaimo, BC, are looking at a cost of about $2.36 per square foot for apartments that usually span 794 square feet, making the monthly rent about $1,872. Located on the east coast of Vancouver Island, Nanaimo offers a desirable blend of island living, stunning natural beauty, a relatively mild climate and a more relaxed pace of life.

9. London, ON

If you’re renting in London, ON, expect to pay around $2.46 per square foot, which means the average rent comes to about $2,077 for a space of 843 square feet. It has a balance of big-city amenities along with a vibrant arts and culture scene and access to green spaces.

Car drives past stores in downtown St Catharines Ontario Canada on a sunny day — Getty Images

10. St. Catharines, ON

St. Catharines makes it into the top 10, where renters are paying $2.55 for every square foot. The average monthly rent in this biggest city in the Niagara Region sits at $1,929, with typical apartment sizes around 755 square feet. The combination of affordable housing, proximity to nearby wineries and natural attractions as well as a growing job market make it a good place to live.

Where Are Canada’s Major Cities on the List?

Curious about rental prices in Canada’s major cities? Edmonton ranks 19th, with renters paying $3.36 per square foot. Halifax is 21st, where the cost is $3.48 per square foot. Winnipeg is at 22nd, with a rate of $3.53 per square foot. Vancouver comes in at 31st, with an average monthly rent of $2,510 for a 576 square foot apartment, which works out to $4.35 per square foot. Montreal renters face $5.35 per square foot, putting them in 35th place. Finally, Toronto is at 37th, with a rate of $5.89 per square foot.

Wondering which city is the most expensive? Calgary, AB, sits at number 41st on the list. If you’re renting there, be ready to pay around $9.04 per square foot. For an average apartment of 648 square feet, that translates to a monthly rent of about $5,858.50.

There’s some positive news on the horizon for renters in Canada! The February 2025 National Rent Report by Rentals.ca reveals that the average asking rent for residential properties hit $2,100 in January, a 4.4 per cent drop from last year and an 18-month low.

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