As rental prices across the Greater Toronto Area continue to skyrocket, more renters are looking beyond Toronto for affordable apartments, quality property management, and better overall value. One region consistently appearing in these searches is Kitchener-Waterloo.
From lower rent to enjoying the benefits of a purpose-built rental building, Kitchener-Waterloo has become one of the most popular alternatives for renters who are feeling priced out of Toronto and the surrounding area.
Kitchener-Waterloo Offers Lower Rent than Toronto & the GTA
According to the Canada Mortgage & Housing Corporation, average rents in Kitchener-Waterloo have been roughly $250-$350 cheaper per month than Toronto over the last 5 years - that's about a 20% difference. Renters searching for cheap apartments near Toronto or affordable rentals in Ontario often discover that Kitchener-Waterloo provides significantly more space and amenities for the same monthly rent.
If you're a renter who cares about average rent in Kitchener vs Toronto, or finding apartments cheaper than Toronto, you may be interesting in learning more about the cost of living in Kitchener-Waterloo vs the GTA. The market stands out as a lower-cost region while still remaining in Southern Ontario.
Enjoy the Advantage of Purpose-Built Rental Buildings
Another major draw is the number of new apartment buildings in Kitchener-Waterloo that are built for rentals - not retrofitted condos. Unlike many older GTA rentals, Waterloo region has seen increased development of:
- purpose-built rental communities
- new apartment buildings
- modern rental homes
- mid-rise and high-rise apartments
Renters searching for new apartments near Toronto or modern apartments in Ontario often find more availability and newer construction in Kitchener-Waterloo.
Kitchener-Waterloo is Close Enough to Toronto with More Affordable Housing
Moving to Waterloo Region doesn't necessarily mean you can't work in Toronto! Depending on where you work, your hours, and your tolerance for traffic, you can join many other Waterloo-Kitchener natives who commute every morning. Kitchener-Waterloo isn't just it's own self-sustaining town, but it also seen by many as:
- a commuter city near Toronto
- a place to live outside the GTA with cheaper rent and living expenses
- a good place to raise a family near Toronto
With easy highway access, a direct rail connection courtesy of Go Transit, and plenty of backroad routes, Kitchener-Waterloo allows renters to stay connected to the GTA while avoiding the higher cost of living.
Employment Opportunities and Long-Term Rental Availability
Not looking to commute? Kitchener-Waterloo also has a growing local economy that allows many to work locally. The region is known for jobs in technology and communications, being a good university town to live in, and long-term population growth.
The combination of features is known to attract renters searching for apartments near tech jobs in Ontario or rentals near employment opportunities outside Toronto. This has helped Kitchener-Waterloo cultivate its reputation as a stable rental market.
If you find yourself looking for apartments in Kitchener-Waterloo, as a cheaper alternative to new apartments in Toronto, you should consider the region a viable alternative. Don't know where to start? Consider Kingsley Management, and our wide range of properties across Waterloo Region.