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As the housing crisis persists, many Canadians are choosing to rent over buying a home.
A recent survey found that over half of Canadian renters doubt they’ll ever be able to own a home in Canada.
If you find yourself in that boat and are looking for the best cities to rent in the country, a new report could help the search be a little less miserable.
Apartment search website RentCafe released a report on Tuesday ranking Canada’s trending cities for renters in the third quarter of 2024.
To do this, the company analyzed millions of interactions on its search engine, focussing on four key indicators from listed properties:
- Availability of apartments
- Listing views
- Apartments saved as favourites
- Saved personalized searches
The number one city attracting the most interest from apartment hunters may surprise you.
According to the report, Winnipeg takes the top spot among the most sought-after cities for Canadians looking to rent. It earned the highest possible score of 100.
“The city also ranks second nationwide for favourited apartments, which suggests that renters interested in apartments in Winnipeg are decisive, often finding what they want without needing to save their searches for later,” reads the report.
RentCafe says the city’s diverse economy, including manufacturing, education, and healthcare sectors, attracts workers who often start as renters.
And it looks like Canadians from major cities are making the big move to Winnipeg.
“Besides local renters, those interested in Winnipeg apartments hail from Toronto, Calgary, and Vancouver,” reads the report.
The Prairies’ popularity doesn’t stop there.
Saskatoon, Saskatchewan, claimed the second spot with a score of 90.49 out of 100. RentCafe says this is largely driven by a 27 per cent increase in online traffic and a 34 per cent rise in favourited listings compared to last year.
“As one of Canada’s youngest and fastest-growing prairie cities, Saskatoon continues to attract newcomers and young families looking for affordable housing, as well as skilled workers seeking better job prospects,” reads the report.
Besides local interest, many people looking to rent in Saskatoon hail from Winnipeg, Calgary, and Regina.
Edmonton, with a score of 88.88, is in third place. RentCafe says it’s the largest city in the top 10 by population.
“Edmonton tops the list for favourited apartments, reflecting renters’ strong confidence in their choices when searching for a place to call home,” reads the report.
The city’s diverse economy, which includes industries like oil and gas, trade, manufacturing, education, and healthcare, attracts young professionals and families seeking job opportunities.
“Despite its size, Edmonton remains more affordable compared to other major Canadian cities,” reads a report. “As such, apartments in Edmonton are attracting increased interest, not just from local renters, but also from residents in other major cities like Vancouver, Toronto, and Calgary.”
This isn’t the only report highlighting Edmonton’s growing popularity. A Royal LePage report from May found that many Canadians are eyeing the Alberta city for relocation.
Victoria breaks the prairie streak, coming in fourth place, while Ottawa rounds out the top five, with increased demand from government workers searching for housing in the nation’s capital.
