Being a renter these days is no walk in the park. Finding the right apartment or house for rent in the ideal city, within a walkable neighborhood and at an affordable price is a formidable challenge. However, some cities stand out by offering features that make a renter’s lifestyle exceptionally smooth.
While renters can adapt to any home or city, after analyzing hundreds of data points, Point2 analysts discovered that certain cities have perfected the recipe for a well-balanced rental experience. In these renter hotspots, tenants don’t have to live in limbo until they get to buy a home, but are actually free to enjoy the renter life.
By looking at 24 metrics spanning three categories (Housing & Economy; Quality of Life; and Community), we ranked Canada’s 100 largest cities to see which emerged as true havens for those who embrace the renter’s lifestyle.
Key Takeaways:
- St. John’s, NL, is the best city for renters, followed by Sherbrooke, QC and Québec City, QC.
- Québec leads with a total of seven cities in the top 10 best places for renters.
- New Brunswick follows from a distance, with two cities in the top 10: Fredericton and St. John.
- Despite standing out for certain metrics, none of Canada’s top 10 largest cities are among the best cities for renters.
- Housing & Economy Hotspots: Québec is undefeated — the top 10 cities that score highest for metrics like housing affordability, unemployment rate, and rental inventory are exclusively from this province.
- Quality of Life Hotspots: Again, Québec comes out on top, with five cities in the top 10 best places for life satisfaction, perceived level of stress and air quality, among others, but Ontario manages to snatch three places as well.
- Community Hotspots: Victoria, BC leads in this category, followed by St. John’s, NL and Vancouver, BC as the cities where residents feel the strongest sense of belonging to the community.
The Best Cities for Renters Offer the Best of All Worlds
St. John’s, NL ranks first, while Québec simply outshines all other provinces
No fewer than seven cities in Québec, along with Cape Breton, NS boast the lowest average rents, all under $1,000. Toronto, ON; Oakville, ON and Montréal, QC have the biggest inventories of homes for rent, while North Vancouver, BC has the highest number of new rental unit starts. Wood Buffalo, AB stands out because it’s an affordability haven: Here, 83% of all renters spend less than 30% of their income on housing costs.
But then again, Oakville, ON boasts the highest number of schools per 10,000 people and residents of Québec City, QC report the highest levels of life satisfaction.
However, the best cities for renters should have it all. Or, they should offer the perfect blend of economic opportunity, life satisfaction and community involvement to make tenants’ lives as accomplished as possible.
And it seems St. John's, NL managed to find the right balance: The strong fishing industry, doubled by the gas and oil industries in Newfoundland and Labrador's charming capital create the strong economic backbone of the city, with its vibrant arts and cultural community representing the beating heart of the province's main urban hub.
Next, Québec seems to be fighting for a monopoly when it comes to the welfare of its renters: Seven cities in the province secured a place in the top 10, bringing together the best ingredients for the most satisfying renter lifestyle. Sherbrooke; Québec City; Trois-Rivières; Saguenay; Granby; Saint-Hyacinthe; and Lévis are creating an environment where tenants aren't just making do until their homeownership dreams come true, but are actually thriving all through their renter years.
Economy & Housing Hotspots: Québec Renters Are Most Privileged
Québec's winning streak goes on uninterrupted, with only Saint John, NB and Moncton, NB getting near this feat and breaking into the top at #19 and #20
It's astounding that 18 of the 19 Québec cities included in the analysis boast the best economic and housing scores, taking up the first 18 spots in the Economy & Housing category.
However, what makes this even more remarkable is that these 18 cities represent almost all the Québec cities analyzed, with Brossard the only exception coming in at #21. Québec dominated the Economy & Housing rankings, occupying the first 18 positions and highlighting the exceptional quality of life for renters in the province.
When it comes to affordability, Wood Buffalo, AB is the absolute leader, with an impressive 82.8% of renters here spending 30% or less of their income to cover housing costs. Unsurprisingly, given their high scores in this category, Québec cities follow suit, barely leaving room for Saint John, NB and Prince George, BC to squeeze into the top 20 cities for this metric.
Saguenay, QC; Drummondville, QC; Saint-Jean-sur-Richelieu, QC; Cape Breton, NS; Granby, QC; Sherbrooke, QC; Saint-Hyacinthe, QC have the most renter-friendly monthly rental rates of Canada's 100 most populous cities. Renters here pay, on average, less than $1,000 to cover rent each month.
And given that some of the most important economic factors are working in their favour, it's no wonder the renter lifestyle is gaining ground in Canada: Between 2011 and 2021, the number of renters went up 21,5%, from 4,078,225 in 2011 to 4,953,835 per the latest Statcan figures.
Among the nearly one million new renters nationwide, quite a few are probably residents whose struggles with high mortgage rates and prohibitive home prices keep them on the sidelines. However, many of them are also holding on to their renter status due to the flexibility and the mortgage-free, hassle-free lifestyle that renting offers.
Quality of Life Hotspots: Québec & Ontario Set the Pace
Whitby, ON; Oshawa, ON; and Sherbrooke, QC offer the best when it comes to a balanced, well-rounded lifestyle
Aspects like monthly rent, total housing costs, income and affordability always take precedence for renters no matter where they live. But matters like safety, air quality, walkability, commute time and access to nature and green spaces within the city quickly gain in importance and relevance as well. It's actually these factors that can make or break a city's overall appeal and standard of living.
British Columbia is winning major points in the walkability area: Four cities from this province lead the way with the highest walk scores of all the cities in the analysis. Vancouver; North Vancouver City; Victoria; and New Westminster all have walk scores above 70.
When it comes to the level of greenness, which basically measures how close to nature an urban, man-made space can get, it's Ontario's time to shine. The province's Caledon is the only city on the list that boasts a perfect score of 100.
Analyzing metrics like Life Satisfaction and Perceived Life Stress adds another layer to residents' perceived quality of life, offering insights into their day to day life and how fulfilled they feel. Québec City, QC and Lévis, QC have the highest levels of life satisfaction, with near perfect scores. The top three is rounded out by St. John's, NL, the city that also leads the overall ranking.
And where are the least stressed residents? The cities that make life the most comfortable are St. John's, NL; Saskatoon, SK; and Oshawa, ON.
Community Hotspots: Victoria, BC Takes the Top Spot
St. John's, NL and Vancouver, BC are also on the podium due to their fulfilling sense of community
A strong sense of community is essential for fostering connections, support, and well-being. It creates a network of mutual trust and cooperation, enhancing the quality of life for everyone involved. Communities provide a shared identity, promote social cohesion, and empower individuals, making them feel valued and more resilient in facing challenges.
Factors like StatCan's Sense of Belonging to the Community, access to parks and museums and a variety of education, but also entertainment options are key elements in building and sustaining that sense of connectedness.
Taking into consideration these aspects, renters in Victoria, BC might just have the richest, most fulfilling lifestyle of all the cities analyzed. With the highest or some of the highest scores for metrics like the number of restaurants and museums, but also share of population with post-secondary education, Victoria definitely wins in this category.
One aspect that stands out in this category is that there is at least one city from almost all the provinces in the top 20. Although provinces like British Columbia and Ontario have the most appearances, it really doesn't look like any province has a near monopoly on the Community category. This means that each Canadian province has at least one city that is considered to be closer to residents' hearts.
In Canada's top 100 hotspots for renters, a mix of reasonable housing costs, job opportunities and access to recreation activities and entertainment options makes for a great quality of life. And whether renters are drawn to the vibrant energy and liveliness of a big city or the relaxed atmosphere and the sense of community of a small town, they can probably find the perfect place that offers what they need and want most in any of Canada's provinces.
Methodology
- For this report, we considered the 100 largest Census Subdivisions (Cities) based on the most recent data from Statistics Canada 2021 Census of Population.
- To discover the best cities for renters, we analyzed 24 different metrics grouped into three categories:
1. Economy & Housing:
o Rentership Rate
o Total Rental Units Starts (1 Year)
o Inequality Index (GINI)
o Unemployment Rate
o Rental Inventory per 10,000 people from REALTOR.ca and Point2
o Share of Renter Households Spending less than 30% of Income on Shelter Costs
o Tenant Insurance Costs at the province level
o Average Rent from CMHC latest data
2. Quality of Life
o Life Satisfaction
o Perceived Life Stress
o Crime Severity Index
o Air quality
o Greenness Index
o Commute Time
o Walk Score
3. Community
o Share of People with Post-Secondary Education
o Sense of Belonging to Community
o Spectator Sports per 10,000 People
o Hospitals per 10,000 People
o Museums per 10,000 People
o Restaurants per 10,000 People
o Elementary and Secondary Schools per 10,000 People
o Recreational and Amusement Parks per 10,000 People
o Grocery and Convenience Retailers per 10,000 People
- The report uses a combination of ranking scores and weighted averages. We analyzed 23 metrics, each graded on a 100-point scale, with 100 representing the most proficient city with regards to that specific metric.
- Data per Statistics Canada is at city level, with exceptions where lack thereof led to data at metro level being used instead.
- Walk Score® as per walkscore.com; The study uses a Walk Score estimate based on 15 geographical points distributed citywide for the following locations: Greater Sudbury and Halifax.
Fair use and redistribution
We encourage and freely grant permission to reuse, host or repost this article. When doing so, we only ask that you kindly attribute the authors by linking to Point2Homes.com or this page, so that your readers can learn more about this project, the research behind it and its methodology.
