Rents dip slightly in Niagara Falls, nudge up a little in St. Catharines
Published October 16, 2023 at 10:43 am
The website Rentals.ca has released September rentals numbers and for the first time, Niagara Falls has been included on the list of the top 35 cities in Canada.
Previously, only St. Catharines, the largest city in the Niagara Region, made the list but the new inclusion of Niagara Falls made it clear that the two cities are remarkably close in rental rates.
In fact, on the list of 35 cities, Niagara Falls came in 24th while St. Catharines was just below it in 25th.
Month-to-month (August to September 2023), Niagara Falls saw one-bedroom apartments averaging $1,708 monthly, a 0.7 per cent drop from August. Year to year (September 2022 vs September 2023), the gaps widened as rents were 4.2 per cent lower.
In St. Catharines, the average one-bedroom unit went up 2.7 per cent, averaging $1,672 a month but actually dropped 1.4 per cent from September 2022.
It’ll cost renters a little more for a two-bedroom unit in Niagara Falls with the average monthly bill coming to $2,100 a month but that’s actually dropped 2.4 per cent from August’s cost. Year-to-year, those apartments saw a 0.1 per cent drop.
In St. Catharines, a two-bedroom unit averaged $1,956 a month, a 0.8 per cent drop from August and a 1.7 per cent drop compared to 2022.
On a positive note, both Niagara cities were well below the national figures where one-bedroom units averaged $1,889 a month and two-bedroom apartments came in at $2,342 a month.
