Gross rental yields in Canada: Montréal and 5 other cities
The average gross rental yield in Canada stands at 5.10% (2024, Q2). Previously, in Q3, 2023 the average gross rental yield stood at 4.83%.
- Montréal
- Toronto
- Vancouver
- Ottawa
- Hamilton
- Calgary
| Last Updated: May. 03, 2024 | |||
| MONTREAL - QUEBEC - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Mercier-Hochelaga-Maisonneuve | |||
| 2-Bedroom | $306,622 | $1,391 | 5.44% |
| 3-Bedroom | $365,166 | $1,683 | 5.53% |
| Côte-des-Neiges–Notre-Dame-de-Grâce | |||
| 1-Bedroom | $285,400 | $1,127 | 4.74% |
| 2-Bedroom | $365,824 | $1,683 | 5.52% |
| 3-Bedroom | $526,161 | $2,086 | 4.76% |
| 4+Bedroom | $728,136 | $2,525 | 4.16% |
| Le Sud-Ouest | |||
| 1-Bedroom | $291,986 | $1,317 | 5.41% |
| 2-Bedroom | $512,257 | $1,829 | 4.28% |
| 3-Bedroom | $768,385 | $2,122 | 3.31% |
| Villeray–Saint-Michel–Parc-Extension | |||
| 1-Bedroom | $267,105 | $1,244 | 5.59% |
| 2-Bedroom | $318,330 | $1,478 | 5.57% |
| Rosemont–La Petite-Patrie | |||
| 1-Bedroom | $291,986 | $1,275 | 5.24% |
| 2-Bedroom | $384,192 | $1,500 | 4.69% |
| Ahuntsic-Cartierville | |||
| 1-Bedroom | $262,714 | $1,098 | 5.02% |
| 2-Bedroom | $311,012 | $1,405 | 5.42% |
| All Locations (Island) | |||
| 1-Bedroom | $314,870 | $1,355 | 5.16% |
| 2-Bedroom | $457,659 | $1,827 | 4.79% |
| 3-Bedroom | $614,362 | $2,124 | 4.15% |
| 4+Bedroom | $864,061 | $2,819 | 3.92% |
| Montréal-Quebec avg. Rental Yields | 4.50% | ||
| TORONTO - ONTARIO - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Etobicoke | |||
| 1-Bedroom | $427,471 | $1,754 | 4.92% |
| 2-Bedroom | $493,320 | $2,120 | 5.16% |
| 3-Bedroom | $510,860 | $2,558 | 6.01% |
| 4+Bedroom | $876,283 | $4,312 | 5.90% |
| Scarborough | |||
| 1-Bedroom | $292,337 | $1,681 | 6.90% |
| 2-Bedroom | $473,963 | $1,900 | 4.81% |
| 3-Bedroom | $512,056 | $2,666 | 6.25% |
| 4+Bedroom | $585,897 | $3,516 | 7.20% |
| North York | |||
| 1-Bedroom | $401,964 | $1,754 | 5.24% |
| 2-Bedroom | $511,445 | $2,046 | 4.80% |
| 3-Bedroom | $584,602 | $2,339 | 4.80% |
| 4+Bedroom | $949,367 | $2,506 | 3.17% |
| York | |||
| 1-Bedroom | $347,151 | $1,389 | 4.80% |
| 2-Bedroom | $540,679 | $1,791 | 3.98% |
| 3-Bedroom | $585,311 | $2,010 | 4.12% |
| Downtown | |||
| 1-Bedroom | $453,124 | $1,754 | 4.65% |
| 2-Bedroom | $583,945 | $2,083 | 4.28% |
| 3-Bedroom | $730,844 | $2,887 | 4.74% |
| 4+Bedroom | $1,023,109 | $3,454 | 4.05% |
| Entertainment District | |||
| 1-Bedroom | $438,500 | $1,754 | 4.80% |
| 2-Bedroom | $515,245 | $2,192 | 5.11% |
| 3-Bedroom | $839,732 | $2,923 | 4.18% |
| East York | |||
| 1-Bedroom | $291,607 | $1,607 | 6.61% |
| 2-Bedroom | $627,649 | $1,900 | 3.63% |
| 3-Bedroom | $1,280,732 | $3,289 | 3.08% |
| Toronto - Ontario avg. Rental Yields | 4.93% | ||
| VANCOUVER - BRITISH COLUMBIA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Vancouver-British Columbia (all locations) | |||
| 1-Bedroom | $511,524 | $1,943 | 4.56% |
| 2-Bedroom | $877,349 | $2,744 | 3.75% |
| 3-Bedroom | $1,302,595 | $4,683 | 4.31% |
| Vancouver-British Columbia avg. Rental Yields | 4.21% | ||
| HAMILTON - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Hamilton (all locations) | |||
| 1-Bedroom | $351,188 | $1,445 | 4.94% |
| 2-Bedroom | $420,709 | $1,683 | 4.80% |
| 3-Bedroom | $475,594 | $2,003 | 5.05% |
| Hamilton avg. Rental Yields | 4.93% | ||
| OTTAWA - ONTARIO - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Ottawa - Ontario (all locations) | |||
| 1-Bedroom | $318,257 | $1,427 | 5.38% |
| 2-Bedroom | $332,966 | $1,610 | 5.80% |
| 3-Bedroom | $329,234 | $1,647 | 6.00% |
| Ottawa - Ontario avg. Rental Yields | 5.73% | ||
| CALGARY - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Calgary (all locations) | |||
| 1-Bedroom | $225,681 | $1,205 | 6.41% |
| 2-Bedroom | $291,294 | $1,496 | 6.16% |
| Calgary avg. Rental Yields | 6.29% | ||
| All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you'll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and Centris.ca |
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Canada's Historic Rental Yield Data
Rental returns on apartments in Toronto tend to outpace those in Montreal. Montreal yields between 2.15% to 5.29% with an average of 4.17%, where as in Toronto the yields fall between 2.77% and 7.64% with an average of 4.49%. In this low-return era, in a low-risk country such as Canada, that is a really acceptable yield.
In Vancouver, gross rental yields are lower, at between 2.96%% to 3.71%. Taking account of the fact that we give gross figures - a guess might be that net yields would be around 2% or lower.
Hamilton produces yields between 3.94% to 4.98%. Ottawa yields are the strongest with 4.57% to 5.63%. Calgary yields are between 2.93% and 6.11%, with an average of 4.92%.