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
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%.