Rental Market Trends in Peterborough, Ontario – What Landlords Should Watch For

The rental market in Peterborough, Ontario has been changing quickly, shaped by population growth, housing demand, and provincial regulations. For Ontario landlords and property investors, keeping up with these trends is essential to staying competitive and maximizing rental income.

Rising Demand from Students and Young Professionals

Peterborough’s student population continues to fuel rental demand, with Trent University and Fleming College attracting thousands of students each year. At the same time, young professionals and families relocating from the Greater Toronto Area (GTA) are seeking affordable rentals in Peterborough, adding pressure to the market.

What landlords should watch for:

• Properties near Trent, Fleming, or downtown Peterborough rent faster.

• Students often seek shared houses or smaller rental apartments.

• Young professionals prefer modern finishes, in-unit laundry, and proximity to transit.

Rental Prices on the Upswing

Like many mid-sized Ontario cities, Peterborough rental prices are climbing steadily. While still cheaper than Toronto or Ottawa, rental rates have risen as more people move to the area for affordability and quality of life.

What landlords should watch for:

• Review local rental listings in Peterborough regularly to stay competitive.

• Renovations and upgrades (new appliances, fresh paint, improved flooring) can justify higher rents.

• Offering utilities included can make your rental more attractive.

Policy and Regulation Changes

The Ontario Landlord and Tenant Board (LTB) continues to introduce adjustments that affect landlords. Rent control guidelines, eviction processes, and tenant rights legislation all impact how landlords in Peterborough manage their rental units.

What landlords should watch for:

• Stay informed on Ontario’s annual rent increase guidelines.

• Document tenant interactions and lease agreements thoroughly.

• Consider joining a local landlords’ association in Peterborough for updates and support

Growth in Purpose-Built Rentals

Developers are increasingly interested in building rental apartments in Peterborough, which could increase supply over time. While this gives renters more options, independent landlords may face stiffer competition.

What landlords should watch for:

• Keep your units well-maintained and updated to stand out.

• Focus on tenant retention with quick responses to repairs and clear communication.

• Highlight the benefits of private ownership (flexibility, personal relationships) when marketing rentals.

Secondary Units and ADUs on the Rise

Many homeowners in Peterborough are creating basement apartments and accessory dwelling units (ADUs) to meet housing demand. This opens opportunities but also increases competition in the Peterborough rental market.

What landlords should watch for:

• Ensure secondary units comply with City of Peterborough zoning bylaws and safety codes.

• Highlight features like private entrances, full kitchens, and parking.

• Position ADUs as affordable yet comfortable rental options.

Final Thoughts

The Peterborough rental market is dynamic and full of opportunity. Rising demand from students, young professionals, and GTA relocators continues to fuel growth, while new housing policies and developments bring challenges for landlords in Ontario.

By keeping rental properties well-maintained, staying competitive with pricing, and staying up to date with Ontario landlord regulations, property owners can thrive in this evolving market. Whether you manage a single apartment or multiple rental homes, being proactive will help you succeed in Peterborough’s growing rental housing sector.