Cost of living and housing at a glance
- 2 bedroom rent
- $2,155 a month, new lease
- 1 bedroom rent
- $1,738 a month, new lease
- Vacancy rate
- 3% a balanced market
- Median home value
- $624K 2021 Census, owner-estimated value
- Government closing fees
- $8,960 on the median home
Renting or buying in Ottawa
The median home in Ottawa is valued at $624K. A typical two-bedroom apartment on a new lease rents for $2,155 a month, or $25,860 a year. That puts the median home at about 24.1 years of two-bedroom rent.
That ratio is only a starting point. Owning adds property tax, one-time government closing fees of about $8,960, insurance, maintenance and, for condos, monthly fees. Renting adds none of those, but it gives you no equity and rents can rise. Whether buying makes sense depends on your deposit, your mortgage rate and how long you will stay, which this guide does not model.
What renting costs
| Apartment size | Average rent, new lease |
|---|---|
| Studio | $1,469 |
| 1 bedroom | $1,738 |
| 2 bedroom | $2,155 |
| 3 bedroom | $2,538 |
Source: CMHC Rental Market Survey, Ottawa-Gatineau CMA (Ontario part), October 2025, privately initiated apartment buildings of three or more units. Houses, basement suites and rooms are not included, and listing prices can be higher.
The cheapest and most expensive neighbourhoods
Home values range widely inside Ottawa. These are the lowest and highest medians among neighbourhoods with at least 1,500 residents.
Lowest median home values
| Neighbourhood | Median home | Renters | Walkability |
|---|---|---|---|
| Ledbury and Heron Gate | $367K* | 72% | 60 |
| Bells Corners West | $378K* | 27% | 49 |
| Britannia | $402K* | 71% | 61 |
| South Keys | $402K* | 24% | 41 |
| Beacon Hill South and Cardinal Heights | $403K* | 32% | 44 |
Highest median home values
| Neighbourhood | Median home | Renters | Walkability |
|---|---|---|---|
| Rockcliffe Park | $1.54M* | 13% | 34 |
| The Glebe | $996K* | 50% | 73 |
| New Edinburgh | $934K* | 45% | 63 |
| Old Ottawa South | $925K* | 25% | 66 |
| Island Park | $910K* | 25% | 61 |
Where renting is common
The share of households that rent changes a lot from one neighbourhood to the next. Renting is most common in Sandy Hill (78%), Centretown (76%), Vanier South (76%), and least common in Riverside Park South and Revelstoke (6%), North Gower and Kars (8%), Greely (8%).
Getting around without a car
Across 96 neighbourhoods, the typical everyday walkability score is 43 out of 100, and 9% score 70 or more. Each guide shows the score, the transit time to the main hubs and the commute.
Frequently asked questions
Is it cheaper to rent or buy in Ottawa?
Renting is cheaper month to month. A typical two-bedroom apartment on a new lease costs about $2,155 a month, while the median home is valued at $624K, or about 24.1 years of that rent. Buying also adds property tax, closing fees, insurance and maintenance, so the right choice depends on your deposit, mortgage rate and how long you plan to stay.
How much is rent in Ottawa?
Average rents for new leases are $1,469 for a studio, $1,738 for a one-bedroom, $2,155 for a two-bedroom and $2,538 for a three-bedroom, according to the CMHC Rental Market Survey of October 2025. The vacancy rate is 3%.
Which neighbourhoods are the most affordable in Ottawa?
Among neighbourhoods with at least 1,500 residents, the lowest median home values are in Ledbury and Heron Gate ($367K), Bells Corners West ($378K), Britannia ($402K). See the full ranking on our most affordable neighbourhoods page.
What are the closing costs when buying in Ottawa?
Ontario charges a tiered land transfer tax, up to 2.5% on the part of a home over $2 million. On the median home of $624K, government fees come to about $8,960. Legal fees, title insurance and adjustments are extra.
Can you live in Ottawa without a car?
It depends where you live. Across 96 neighbourhoods, the typical everyday walkability score is 43 out of 100, and 9% of them score 70 or more. Check each guide for the score and for transit times to the main hubs.
Next steps
- All 96 neighbourhoods
- Match me to a neighbourhood
- Compare neighbourhoods
- Most walkable
- Most affordable
- Best for families
- Lowest reported crime
Home values are assessed or benchmark values, not sale prices, and rents are survey averages for the whole metro area. Figures are for general information, not financial, tax or legal advice: check current listings and talk to a mortgage professional or lawyer before you decide. Sources are on each neighbourhood guide and on the About the data page.
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