New Housing Developments in Peterborough, Ontario: What They Mean for Landlords
- Peterborough Landlords Association
- Oct 30
- 4 min read
If you rent out property in – or are considering investing in – the City of Peterborough, Ontario market, it's worth paying close attention to the recent wave of new-housing developments in the region. These shifts are reshaping supply, demand, and landlord strategy. This post digs into what’s happening, and what it means for you as a landlord.
What’s going on in Peterborough
Housing starts and new construction are increasing
Recent data from the Canada Mortgage and Housing Corporation (CMHC) show that in Q4 2024 the City of Peterborough saw 1 single‐unit, 15 row units, and 51 apartment/condo units start construction. The region (city + surrounding municipalities) reported 98 new starts with 86 completions in the quarter. This suggests a meaningful uptick in housing supply entering the market.
Infrastructure and government investment are enabling growth
The city is not just supporting large new subdivisions. For example, a six‐storey, 53-unit affordable rental project at 681 Monaghan Rd was recently completed.
Also, the city’s “Missing Middle” policy work is encouraging infill typologies (triplexes, fourplexes, sixplexes) to increase rental housing supply. These changes may have different implications than suburban detached‐house builds
What these developments mean for landlords
Here are some key takeaways if you’re a landlord (or thinking of becoming one) in Peterborough.
A. Increased competition in rental supply
With more apartments, row units and infill rental options coming online, you may face more competition for tenants.
Especially in segments where many units enter the market at once (e.g., new apartment buildings) you might need to differentiate or adjust pricing to remain competitive.
If your property is older or less well maintained, the “new build” banner of competing units could attract tenants away.
B. Opportunity for selective premium positioning
On the flip side, new supply can raise the bar for renter expectations (amenities, finishes, efficiency). Landlords who upgrade their units (modern appliances, good location, accessibility) may justify higher rents.
Given the city’s push for infill and mixed‐use, properties in desirable locations (near transit, downtown, amenities) may capture strong demand.
C. Location and housing type matter more
The new builds include larger apartment/condo projects and also row units and infill missing-middle typologies.
If you own or plan to acquire a typical detached rental home, the dynamics will differ from a new purpose-built multi-unit building.
For example: older detached homes may appeal to families (looking for 2-3 bedroom units) while a lot of new supply may be one‐bed and two‐bed apartments targeting singles or couples.
So, consider how your property fits into the changing mix of supply and match accordingly (target tenant type, price point, features).
D. Long‐term growth and hold strategy
The infrastructure investments (roads, water/sewer) unlocked by the city/province suggest Peterborough is positioning for growth. That can mean potential property value appreciation over time.
For landlords, that supports a buy‐and‐hold strategy: steady rental income plus capital growth.
That said: you’ll still need to manage cash‐flow, maintenance, tenant turnover etc.
E. Be alert to regulation and policy change
Be alert to regulation and policy change
The City of Peterborough’s “Strategic Direction – Building Housing” sets out targets (for example, 2,680 new affordable rental units by 2029 in city and county).
Also the “Missing Middle” Community Improvement Plan encourages the construction of smaller multi‐units and infill.
This regulatory environment may mean more changes (zoning, incentives, tax/regulation) that you’ll want to monitor. Being a proactive landlord means understanding how these shifts may affect your property value, rental market, or compliance requirements.
Practical tips for landlords in Peterborough
Here are some actionable suggestions:
Audit your property & tenant offering
Check if your unit(s) need upgrades (kitchen, bathroom, flooring, energy efficiency) to stay competitive with newer builds.
Evaluate what amenities your target tenant wants (e.g., parking, storage, outdoor space, accessibility) and how you compare.
Research local sub‐markets
Location matters: units in areas where new housing is being built or where infrastructure is improving may have better outlook.
Understand what tenant types you’re catering to (students, families, professionals) and how local supply is evolving.
Set realistic rental rates
With increased supply, you may not be able to push rents up aggressively unless your property is distinct. Predict modest growth or even rent pressure in certain segments.
But if you’ve got a premium offering (location, finish, features) you can maintain or improve rent capture.
Plan for long‐term holding
If you’re in for the long haul, consider how your property will continue to perform as more housing supply comes online.
Factor in maintenance, capital improvements, and potential shifts in tenant demand.
Stay abreast of policy & zoning changes
Monitor city planning documents (zoning changes, development approvals) in Peterborough, as this can affect neighbourhood dynamics and supply.
If new large developments are approved nearby, anticipate how that may affect your property (positives: improved amenities, transport; negatives: competition, density change).
Consider diversification
If you own one type of property (say older detached home), evaluate if adding a second unit or converting/investing in a different housing type (row unit, duplex, small multi) makes sense given the “missing middle” push in Peterborough.
Final Thoughts
The housing landscape in the City of Peterborough, Ontario is shifting. With substantial construction activity, infrastructure investment, and policy focus on increasing housing supply, landlords in the region are facing both opportunities and challenges.
If you’re a landlord: the key is to adapt, maintain your property’s competitive edge, and understand how broader supply trends will affect your tenant market and rental dynamics.
If you’re thinking of becoming a landlord: Peterborough appears to be a market with momentum and structural support for growth — but success will mean being strategic about property type, location, rent level, and tenant profile. Keep the conversation going, join the Peterborough Landlords Association and network with local fellow Landlords to get the latest news, tips, and access to valuable resources, and guest speakers, visit us at: www.ptbolandlords.ca