Rents rise in St. Catharines and Welland, bucking national trend: Report

Rents in St. Catharines and Welland rose in July compared to June, bucking a national trend of rent decreases across the country. At the same time, rents in Niagara Falls fell, in line with the national trend. 

That’s all according to a new Rentals.ca report. 

Overall Canadian rents fell by 3.6 per cent in July compared to a year prior. 

The monthly Rentals.ca National Rent Report includes 60 cities across Canada and has recorded a year-over-year decline in national rents for 10 consecutive months. 

Out of those 60 cities, Niagara Region’s major urban centres rank among some of the most affordable in Canada, and certainly in Ontario. In fact, Welland is ranked as the second most affordable major city in Canada’s largest province, after Sarnia.

In terms of overall rankings, Welland ranks as Canada’s 46th most expensive city, while St. Catharines comes in at 40th and Niagara Falls at 38th.

That’s a change in rankings for all three cities. Welland fell by one spot in national rankings, meaning it became more affordable compared to other cities. At the same time, St. Catharines and Niagara Falls both rose by two spots, indicating they became more expensive compared to their peer cities. 

The average rent for a one-bedroom unit in Welland was $1,603 in July, up 1.0 per cent from June but down 6.8 per cent from July 2024.

Two-bedroom units were priced at an average of $1,869, which is down 1.1 per cent from June and down 7.8 per cent from July 2024. 

In St. Catharines, the average one-bedroom was up 1.6 cent from June to $1,704 but down 2.2 per cent from July 2024. 

Two-bedroom units were down 0.2 per cent from June and flat year-over-year to an average of $1,975. 

In Niagara Falls, the average one-bedroom was down 4.5 per cent from June to $1,716 but up 3.2 per cent from July 2024.

Two-bedroom units were priced at an average of $2,078, which is down 0.8 per cent month-over-month but up 1.7 per cent year-over-year.

The report notes that, despite 10 straight months of rent decreases, rents are still substantially higher than the lows experienced during the COVID era. 

“Despite the dip in rents during the past year, average asking rents in Canada remained two per cent higher than the level from two years earlier ($2,078) and 11.1 per cent higher than the level from three years earlier ($1,908).”  

The report also notes that the 3.6 per cent year-over-year rent decline in July is greater than the 2.7 per cent year-over-year rent decline in June, suggesting that rent declines are starting to compound. 

Out of all the Canadian listings examined in the Rentals.ca report, the average for a zero-bedroom studio for July was $1,616, a one-bedroom was $1,841, and the two-bedroom average was $2,219.

That means rents in all three of the Niagara Region cities looked at in the report fell below the national average. 

The report also notes that every province or region in Canada other than Saskatchewan saw year-over-year declines in apartment rents in July, with Ontario rentals down three per cent to an average of $2,325.

The five most expensive cities of the 60 examined in the report include one in British Columbia (North Vancouver, Vancouver, Coquitlam, and Burnaby) and one in Ontario (Toronto). 

The five most affordable cities of the 60 examined in the report include three in Alberta (Fort McMurray, Medicine Hat, and Lloydminster), one in Saskatchewan (Saskatoon), and one in Atlantic Canada (St. John’s). 

The data used in the Rentals.ca analysis is based on monthly listings from the Rentals.ca Network of Internet Listings Services (ILS). 

The rankings and report are written by real estate research firm Urbanation.

The Rentals.ca Network of ILS’s data covers both the primary and secondary rental markets and includes basement apartments, rental apartments, condominium apartments, townhouses, semi-detached houses, and single-detached houses.