Whether you’re an Aurora/Newmarket, Ontario, residential property owner who’s looking to rent out your basement or an attached apartment or an investor who’s looking to rent out houses or units in an apartment building or condominium, knowing your local rental market is absolutely critical. Without this information, you could incorrectly price and market your unit, which could result in any number of problems like drawing in the wrong tenants, unnecessary turnover and vacancy, and inadequate margins; that is, if you’re inadequately prepared, your investment could be unprofitable or even costly!
In addition, as a property owner and business professional, you know that successful renting doesn’t only come from data, statistics, and other information; success comes from knowing what to do with the information you have. This is where Frontline Property Management comes in. As a part of our services, we’ll gather all of the relevant data and information, determine the optimal price for your unit, effectively market the unit in order to draw in the right kinds of tenants, select the best tenant, and manage what can be a very complex and challenging relationship.
Want to make renting your property easy? Contact us and it’ll be our pleasure to do the work for you! But if you want to do everything yourself instead, the following data and other information should help you prepare to rent your property in Aurora/Newmarket, Ontario.
Note: Each data source uses different definitions and methodologies in order to compile and report their data. As a result, some sources may be more or less accurate, consistent, and/or timely. In turn, it is important to—and we recommend that you—assign different weightings to each source of data in order to determine the exact numbers you will use. Also note that where cells in tables are empty, no data was reported or found. Lastly, in this case, some data is based on the region (Aurora, Newmarket, Whitchurch-Stouffville, and other locations), but will otherwise be separated into each city.
Rental Universe
The “Rental Universe” is defined by the Canada Mortgage and Housing Corporation (CMHC) as “all row projects and apartment structures with three or more units” and “the universe is presented as a sum of all rental units.” Aurora/Newmarket’s Rental Universe consists of the following number of units:
| Year | ||||||
| Unit Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| Bachelor/ Studio | Aurora 10 Newmarket 39 | Aurora 10 Newmarket 38 | Aurora 10 Newmarket 38 | Aurora 10 Newmarket 38 | Aurora 10 Newmarket 37 | Aurora 10 Newmarket 37 |
| One Bedroom | Aurora 216 Newmarket 541 | Aurora 215 Newmarket 540 | Aurora 216 Newmarket 541 | Aurora 217 Newmarket 538 | Aurora 217 Newmarket 539 | Aurora 215 Newmarket 629 |
| Two Bedroom | Aurora 302 Newmarket 442 | Aurora 304 Newmarket 435 | Aurora 302 Newmarket 435 | Aurora 301 Newmarket 435 | Aurora 301 Newmarket 435 | Aurora 298 Newmarket 483 |
| Three Bedroom | Aurora 276 Newmarket 64 | Aurora 276 Newmarket 66 | Aurora 276 Newmarket 66 | Aurora 276 Newmarket 64 | Aurora 276 Newmarket 63 | Aurora 280 Newmarket 86 |
*Note that the data for “Newmarket” above includes East Gwillimbury.
Affordable Rent
According to the City of Barrie’s Affordable Housing Monitoring Report, from both the Provincial Government’s and City’s perspectives, affordable rental housing is the least expensive of:
- “A unit for which the rent does not exceed 30% of gross annual income for low to moderate income households; or
- A unit for which rent is at or below the average market rent of a unit within the regional market area.”
Therefore, according to these parties, affordable rent in Aurora/Newmarket based on income would be the following Dollar amounts:
| City | Median Total Household Income | Monthly Affordable Rent (30%) |
| Aurora | 119,000 | 2,975 |
| Newmarket | 110,000 | 2,750 |
| East Gwillimbury | 119,000 | 2,975 |
*Median Total Household Income is based on 2021 Canadian Census of Population Data
Average Rental Price
The following data show the overall Average Rental Price in Dollars for rental units in Aurora/Newmarket, Ontario. The final rows show the prices for Ontario and Canada for comparison purposes.
| Year | |||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CMHC | Aurora 1,298 Newmarket 1,198 | Aurora 1,338 Newmarket 1,355 | Aurora 1,492 Newmarket 1,391 | Aurora 1,586 Newmarket 1,276 | Aurora 1,499 Newmarket 1,465 | Aurora 1,695 Newmarket 1,692 | |
| Ontario (CMHC) | 1,203 | 1,277 | 1,347 | 1,395 | 1,474 | 1,609 | |
| Ontario (Rentals.ca) | 2,189 | 2,141 | 1,906 | 2,093 | 2,421 | 2,404 | |
| Canada (CMHC) | 997 | 1,049 | 1,097 | 1,134 | 1,214 | 1,314 | |
| Canada (Rentals.ca) | 1,844 | 1,842 | 1,675 | 1,821 | 1,935 | 2,150 | |
*Note that the CMHC data for “Newmarket” above includes East Gwillimbury.
Bachelor/Studio Unit
The following data show the Average Rental Price in Dollars for Bachelor/Studio Units in Aurora/Newmarket, Ontario. The final rows show the prices for Ontario and Canada for comparison purposes.
| Year | |||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CMHC | Newmarket 759 | Newmarket 798 | Newmarket 757 | Newmarket 754 | |||
| Zumper.com | Aurora 1,852 Newmarket 1,957 | ||||||
| Ontario (CMHC) | 958 | 1,019 | 1,080 | 1,106 | 1,179 | 1,270 | |
| Ontario (Rentals.ca) | 1,807 | 1,801 | |||||
| Canada (CMHC) | 787 | 820 | 864 | 887 | 949 | 1,019 | |
| Canada (Rentals.ca) | 1,234 | 1,307 | 1,254 | 1,330 | 1,377 | 1,590 | |
*Note that the CMHC data for “Newmarket” above includes East Gwillimbury.
One Bedroom Units
The following data show the Average Rental Price in Dollars for One Bedroom Units in Aurora/Newmarket, Ontario. The final rows show the prices for Ontario and Canada for comparison purposes.
| Year | |||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CMHC | Aurora 1,127 Newmarket 1,161 | Aurora 1,171 Newmarket 1,343 | Aurora 1,296 Newmarket 1,378 | Aurora 1,326 Newmarket 1,273 | Aurora 1,259 Newmarket 1,502 | Aurora 1,371 Newmarket 1,702 | |
| TRREB | Aurora 2,433 Newmarket 2,248 | ||||||
| Rentals.ca | Newmarket 1,674 | ||||||
| Zumper.com | Aurora 2,176 Newmarket 2,102 | ||||||
| Ontario (CMHC) | 1,103 | 1,179 | 1,241 | 1,273 | 1,350 | 1,480 | |
| Ontario (Rentals.ca) | 1,621 | 2,195 | 2,191 | ||||
| Canada (CMHC) | 945 | 1,000 | 1,046 | 1,071 | 1,147 | 1,246 | |
| Canada (Rentals.ca) | 1,662 | 1,638 | 1,499 | 1,579 | 1,753 | 1,955 | |
| Canada (Zumper.com) | 1,892 | ||||||
*Note that the CMHC data for “Newmarket” above includes East Gwillimbury.
Two Bedroom Units
The following data show the Average Rental Price in Dollars for Two Bedroom Units in Aurora/Newmarket, Ontario. The final rows show the prices for Ontario and Canada for comparison purposes.
| Year | |||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CMHC | Aurora 1,347 Newmarket 1,286 | Aurora 1,371 Newmarket 1,403 | Aurora 1,543 Newmarket 1,482 | Aurora 1,668 Newmarket 1,370 | Aurora 1,559 Newmarket 1,487 | Aurora 1,794 Newmarket 1,785 | |
| TRREB | Aurora 2,867 Newmarket 2,825 | ||||||
| Rentals.ca | Newmarket 2,160 | ||||||
| Zumper.com | Aurora 2,584 Newmarket 2,571 | ||||||
| Ontario (CMHC) | 1,263 | 1,335 | 1,407 | 1,461 | 1,550 | 1,689 | |
| Ontario (Rentals.ca) | 1,710 | 2,684 | 2,672 | ||||
| Canada (CMHC) | 1,028 | 1,080 | 1,128 | 1,169 | 1,259 | 1,360 | |
| Canada (Rentals.ca) | 1,891 | 1,956 | 1,792 | 1,950 | 2,120 | 2,359 | |
| Canada (Zumper.com) | 2,336 | ||||||
*Note that the CMHC data for “Newmarket” above includes East Gwillimbury.
Three Bedroom Units
The following data show the Average Rental Price in Dollars for Three Bedroom Units in Aurora/Newmarket, Ontario. The final rows show the prices for Ontario and Canada for comparison purposes.
| Year | |||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CMHC | Aurora 2,065 | ||||||
| TRREB | Aurora 3,125 Newmarket 3,200 | ||||||
| Rentals.ca | Newmarket 1,900 | ||||||
| Zumper.com | Aurora 3,583 Newmarket 3,524 | ||||||
| Ontario (CMHC) | 1,461 | 1,540 | 1,640 | 1,719 | 1,776 | 1,921 | |
| Ontario (Rentals.ca) | 2,921 | 3,036 | |||||
| Canada (CMHC) | 1,148 | 1,199 | 1,255 | 1,310 | 1,389 | 1,479 | |
| Canada (Rentals.ca) | 1,941 | 2,218 | 2,125 | 2,310 | 2,383 | 2,668 | |
*Note that the CMHC data for “Newmarket” above includes East Gwillimbury.
Vacancy Rates
The following data show the average Vacancy Rates (%) for row and apartment structures of three units and over in Aurora/Newmarket, Ontario. The final rows show the averages for Ontario and Canada for comparison purposes. Note that according to the City of Aurora/Newmarket’s Affordable Housing Monitoring Report, “a healthy vacancy rate is 3% or greater”; from a property owner’s/manager’s perspective, zero would be optimal.
| Year | ||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| CMHC | Newmarket 2.2 | Aurora 0.6 Newmarket 1.8 | Aurora 0.9 Newmarket 0.8 | Aurora 1.0 Newmarket 0.8 | Aurora 2.7 Newmarket 0.3 | Aurora 1.4 |
| Ontario (CMHC) | 1.8 | 2.0 | 3.2 | 3.4 | 1.8 | 1.7 |
| Canadian (CMHC) | 2.4 | 2.3 | 3.1 | 3.1 | 1.9 | 1.5 |
*Note that the CMHC data for “Newmarket” above includes East Gwillimbury.
Turnover Rates
The following data show the average Turnover Rates (%) of all Populations of 10,000+ in Ontario and Canadian Census Metropolitan Areas (CMAs).
| Year | ||||||
| Data Source | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| Ontario 10,000+ (CMHC) | 14.9 | 13.0 | 11.8 | 15.6 | 12.0 | 10.8 |
| Canadian CMAs (CMHC) | 18.7 | 17.1 | 13.5 | 15.5 | 13.5 | 12.4 |
Rental Arrears Rates
The following are the most current (2023) average Rental Arrears Rates for row (townhouse) and apartment structures of three units and over:
- 16.1% of Units or 2.6% of Total Expected Rent of all Populations of 10,000+ in Ontario; and
- 8.2% of Units in Canadian Census Metropolitan Areas (CMAs).