Best Airbnb Cities in Ontario: List of the Most Profitable Airbnb Locations in Ontario

There are lots of cities and communes that might appeal to aspiring Airbnb entrepreneurs. However, the market conditions vary dramatically among them, making it hard to choose the correct place for your business. In the article, we will review all the crucial metrics that are necessary for making such a decision. We will cover 17 different places across the country, indicating the levels of competition and expected revenues there.

Read also how to buy Airbnb property.

List of the most profitable Airbnb locations in Ontario

Cities	Revenue
Prince Edward County	$4,957
Port Colborne	$3,619
Kawartha Lakes	$3,587
Peterborough	$4,511
Quinte West	$3,569
Norfolk County	$2,992
Stratford	$2,976
Niagara Falls	$3,044
Owen Sound	$2,749
Haldimand County	$3,604
Belleville	$2,897
Elliot Lake	$2,306
Orillia	$2,465
Kingston	$2,611
St. Catharines	$2,820
Toronto	$2,941
Ottawa	$2,278

Explore Factors that Make Investing in Airbnb in Mississauga a Wise Decision.

Toronto

Why Airbnb in Toronto is a great investment.

Toronto is one of the largest short-term rental markets in the entire country, boasting a total of 14,089 active listings. It is particularly noted for its diverse range of Airbnbs, which indicate a highly competitive environment. While most properties are conveniently located within the city center, an impressive variety can be found across various neighborhoods. The market primarily features 1 bedroom units, accounting for 64% of listings, followed by 2 bedroom (23%), 3 bedroom (9%), 4 bedroom (3%), and 5+ bedroom (1%) properties. In terms of rental types, 34% are Private Rooms, 65% are Entire Homes, and a mere 1% are Shared Rooms.

The financial metrics of the Toronto vacation rental market are equally impressive. The Average Daily Rate (ADR) stands at $213.7, with the highest daily rates recorded in September ($229) and August ($228) and the lowest in February at $170. The Occupancy Rate averages at 58%, with June experiencing the peak at 70%. Despite the sheer number of listings, the market maintains a robust performance, as evidenced by the Average Revenue of $2,941, peaking in August and September at $3,600. The Revenue per Available Room (RevPAR) is $133.5, with weekends seeing a higher rate of $224. June emerges as the best month in terms of revenue, further solidifying Toronto’s status as a lucrative market for vacation rentals. The market scores an impressive 94 out of 100, reflecting its overall strength and profitability.

For more information about the Toronto vacation rental market, read here.

Explore Airbnb management services in Toronto.

St. Catharines

St. Catharines, located near the scenic Niagara Falls, has a distinctive short-term rental market characterized by a variety of options. The city hosts 334 active Airbnb listings, offering a range of accommodations to suit different preferences.

In this market, the Average Daily Rate (ADR) for Airbnb listings is $227.5, with the highest daily rate reaching $271 in August. This suggests a peak season during the summer months, where demand and pricing are at their highest. The Occupancy Rate averages at 51%, but it significantly increases to 75% in August, indicating a strong seasonal demand.

The distribution of rental types in St. Catharines is varied, with Entire Homes making up the majority at 74%, followed by Private Rooms at 25%, and a small percentage of Shared Rooms at 1%. This mix offers a range of experiences for travelers, from private, homely stays to more communal settings.

Financially, the Airbnb market in St. Catharines is robust. The Average Revenue for hosts is around $2,820, with the Maximum Monthly Revenue in August climbing to $5,000, aligning with the peak in demand during this month. The Revenue per Available Room (RevPAR) is calculated at $123, while the Weekend RevPAR is notably higher at $238, reflecting increased weekend travel.

August is identified as the best month for Airbnb hosts in St. Catharines in terms of revenue and occupancy. Despite a relatively modest Market Score of 23, the city presents a lucrative opportunity for Airbnb hosts, particularly during the peak summer period.

Explore how to Launch Your Own Airbnb in St. Catharines: A Step-by-Step Guide.

Check out Airbnb Management St. Catharines by MasterHost.

Kingston

Kingston, situated on the opposite side of Lake Ontario, presents a dynamic short-term vacation rental market with its own unique characteristics. The city currently hosts 403 active Airbnb rentals, showcasing a diverse array of options for travelers.

The Average Daily Rate (ADR) for Airbnb listings in Kingston is $196.5, with the highest daily rate reaching $219 in August. This indicates a strong seasonal influence, particularly during the summer months. The Occupancy Rate averages at 56%, but it notably increases to 75% in August, suggesting a peak in demand during this period.

Financially, the Airbnb market in Kingston is thriving. The Average Revenue for hosts stands at $2,611, with the Maximum Monthly Revenue in August soaring to $3,900, aligning with the peak season. The Revenue per Available Room (RevPAR) is calculated at $115.2, while the Weekend RevPAR is significantly higher at $210, reflecting increased leisure travel during weekends.

August is identified as the best month in terms of revenue and occupancy for Airbnb hosts in Kingston. With a high Market Score of 90, the city represents a lucrative and vibrant market for short-term rentals, especially during the summer. This performance marks a notable shift from earlier metrics, showcasing Kingston’s growth and appeal in the vacation rental market.

Airbnb Management Kingston by MasterHost

A tour of the top Airbnb neighborhoods in Kingston, Ontario

Elliot Lake

Elliot Lake presents a distinctive niche within the short-term vacation rental market. This location, which is less frequented by tourists compared to other cities, now boasts 37 active vacation rentals. This marks an increase from the previously reported 22 in September 2022, with a more diverse distribution in and around the city.

The market dynamics in Elliot Lake have evolved considerably. The Average Daily Rate (ADR) for Airbnb listings stands at $234.3, with the highest daily rate reaching $290 in June. This rate is significantly higher than the previously noted $171. The Occupancy Rate averages at 40%, peaking in August at 62%. This peak occupancy indicates a strong seasonal demand, particularly in the summer months.

In terms of rental sizes, there is a wide variety of options available: 1 bedroom properties make up 35% of the listings, followed by 3 bedrooms (30%), 2 bedrooms (22%), 4 bedrooms (11%), and 5+ bedrooms (3%). The majority of listings are Entire Homes, comprising 84% of the market, while Private Rooms account for 16%.

The financial performance of the market is robust, with an Average Revenue for hosts at $2,306. The Maximum Monthly Revenue in August is a notable $3,900, aligning with the highest occupancy rates. The Revenue per Available Room (RevPAR) is calculated at $96.1, and the Weekend RevPAR is significantly higher at $212, reflecting increased demand during weekends.

August is the best month for revenue and occupancy. With a Market Score of 35, Elliot Lake offers a unique opportunity for Airbnb hosts seeking a market with limited competition and considerable revenue potential.

Check out the list of the best cities to own Airbnb in Canada.

Port Colborne

Port Colborne, located near the iconic Niagara Falls and St. Catharines, has established itself as an intriguing player in the Airbnb short-term rental market. This relatively small area boasts 199 active Airbnb listings, offering a variety of accommodations to visitors.

The market in Port Colborne is characterized by a high Average Daily Rate (ADR) of $366.6, with the peak rate reaching an impressive $405 in August. This suggests a strong demand for high-quality accommodations, especially during the summer months. The Occupancy Rate in the area averages at 47%, with a significant increase to 70% in August, indicating a clear peak in tourist activity during this period.

Financially, the Airbnb market in Port Colborne is performing exceptionally well. The Average Revenue for hosts stands at $3,619, with the Maximum Monthly Revenue in August soaring to $7,300. This peak coincides with the highest occupancy rates, underscoring the profitability of hosting during the summer season. The Revenue per Available Room (RevPAR) is calculated at $177, while the Weekend RevPAR notably doubles to $366, reflecting the increased demand for weekend stays.

August is identified as the best month for Airbnb hosts in terms of both revenue and occupancy. Despite a Market Score of 13, which may suggest certain challenges or untapped potential in the market, Port Colborne presents a lucrative opportunity for hosts, particularly during the busy summer months. The high ADR and strong revenue figures indicate a thriving market for short-term rentals in this area.

Ottawa

Ottawa’s Airbnb short-term rental market stands out with its blend of variety and financial viability. The city, differentiating itself from Toronto’s market, houses a substantial 2,327 active listings, indicating a vibrant and diverse rental landscape.

Key highlights of Ottawa’s rental market include:

Average Daily Rate (ADR): The ADR is $161.6, peaking in July at $177. This rate suggests a balanced demand throughout the year, with a slight upswing during the summer.

Occupancy Rate: On average, the occupancy rate is 58%, with July experiencing the highest occupancy at 69%. This seasonal pattern points to a concentrated tourist influx in the summer.

Rental Composition: Ottawa’s rental market is primarily comprised of Entire Homes (62%) and Private Rooms (38%). The most common rental size is 1 bedroom units (56%), followed by 2 bedrooms (19%), 3 bedrooms (14%), 4 bedrooms (8%), and 5+ bedroom properties (3%).

Revenue Metrics: Hosts in Ottawa see an average revenue of $2,278, with a peak monthly revenue of $3,000 in July. The Revenue per Available Room (RevPAR) is $98, with a boost to $174 on weekends, indicating stronger demand during these periods.

Peak Performance: June stands out as the most lucrative month for hosts, both in terms of revenue and occupancy.

Market Score: With a score of 95, Ottawa’s market demonstrates high potential for profitability and sustained demand, making it an appealing option for both new and existing hosts.

This analysis shows Ottawa as a market with consistent performance throughout the year, peaking in the summer months. Its diverse array of listings and balanced occupancy rates suggest a stable and profitable environment for Airbnb hosts.

More about the Ottawa vacation rental market read here.

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Prince Edward County

Prince Edward County, nestled along the beautiful shores of Lake Ontario, has established itself as a standout destination in the Airbnb short-term rental market. The area is home to 917 active Airbnb listings, primarily composed of entire homes well-suited for groups of five to six guests, catering to families and larger travel groups. The market is distinguished by a high Average Daily Rate (ADR) of $428.4, soaring to a peak of $470 in August, indicative of the premium quality of accommodations and the high demand during the summer months. Occupancy rates in the area average 49%, but experience a significant uptick to 77% in August, reflecting the seasonal popularity of the region.

Financially, the Airbnb hosts in Prince Edward County fare exceptionally well, with an average monthly revenue of $4,957 and a remarkable peak monthly revenue of $9,500 during August. The Revenue per Available Room (RevPAR) stands at an impressive $218.4, with a notably higher Weekend RevPAR of $443, underscoring the strong weekend travel demand. August emerges as the most lucrative month for hosts, both in terms of revenue and occupancy. Despite a Market Score of 30, Prince Edward County presents a highly lucrative market for Airbnb hosts, especially during the peak tourist season, offering significant revenue potential amidst its scenic appeal.

Peterborough

Peterborough, a city distinguished by its numerous small lakes rather than proximity to Canada’s major lakes, presents a dynamic and growing Airbnb short-term rental market. The area currently features 955 active Airbnb listings, showcasing a mix of urban and more spread-out rural properties.

The market in Peterborough is characterized by a high Average Daily Rate (ADR) of $421.7, with the peak daily rate observed in July at $480. This high rate reflects the quality and appeal of the accommodations in the region. The Occupancy Rate in Peterborough averages at 46%, with a significant increase to 69% in August, indicating a clear peak in demand during the summer months.

In terms of rental sizes, Peterborough offers a wide range: 1 Bedroom properties make up 18% of the listings, followed closely by 2 Bedroom (19%), 4 Bedroom (19%), and 3 Bedroom units (29%). Properties with 5 or more bedrooms account for 15% of the market. The majority of listings are Entire Homes, constituting 92% of the market, while Private Rooms make up 8%.

Financially, the Airbnb market in Peterborough is robust. The Average Revenue for hosts is approximately $4,511, with the Maximum Monthly Revenue in August soaring to $8,100. This peak coincides with the highest occupancy rates, highlighting the profitability of hosting during the summer season. The Revenue per Available Room (RevPAR) stands at $199, and the Weekend RevPAR notably increases to $426, reflecting strong demand for weekend stays.

August is identified as the best month for revenue and occupancy for Airbnb hosts in Peterborough. With a Market Score of 40, Peterborough’s market, while showing room for growth, offers substantial revenue opportunities, particularly during the busy summer months. This vibrant market scenario positions Peterborough as an attractive destination within the Airbnb community.

Kawartha Lakes

Kawartha Lakes, nestled in a picturesque region, presents a thriving Airbnb short-term rental market with its own distinctive characteristics. The area boasts 794 active listings, indicating a healthy and diverse market. In terms of rental channel distribution, 61% of these listings are exclusively on Airbnb, 15% on Vrbo, and 24% are listed on both platforms.

The market in Kawartha Lakes is characterized by a high Average Daily Rate (ADR) of $461.7, with the peak daily rate in the prime summer months of July and August reaching $505. This indicates a premium valuation of properties, likely due to their desirable locations and quality.

The overall Occupancy Rate in Kawartha Lakes averages at 41%, but it experiences a significant uptick in August, climbing to 63%. This demonstrates the seasonal popularity of the region, with a clear demand spike during the summer.

From a financial perspective, the Airbnb market in Kawartha Lakes is robust. Hosts enjoy an Average Revenue of approximately $4,549, with the Maximum Monthly Revenue in August soaring to $8,400. The Revenue per Available Room (RevPAR) is calculated at $195.3, with a notably higher Weekend RevPAR of $467, reflecting strong demand for weekend stays.

August emerges as the most lucrative month for hosts in terms of revenue and occupancy. Despite a Market Score of 22, Kawartha Lakes offers substantial revenue opportunities, particularly during the busy summer months, making it an attractive market for Airbnb hosts seeking profitable ventures in a scenic setting.

Norfolk County

Norfolk County, situated along the scenic shores of Lake Erie, offers a unique and growing Airbnb short-term rental market. The county features 246 active Airbnb listings, predominantly located within a short walking distance from the waterfront. Despite its smaller geographical area, Norfolk County presents opportunities for new hosts, as some parts are still devoid of significant competition.

The market in Norfolk County is characterized by an Average Daily Rate (ADR) of $300.1, with the highest daily rate in July reaching $335. This rate, while not as high as in some other regions, still reflects a solid demand for quality accommodations in the area. The Occupancy Rate averages at 43%, with a notable increase in July to 64%, indicating a peak in demand during the summer months.

Financially, the Airbnb market in Norfolk County shows promising performance. Hosts enjoy an Average Revenue of $2,992, with the Maximum Monthly Revenue in July climbing to $5,500. These figures suggest that despite the lower average occupancy rate compared to some other regions, the market remains competitive and profitable, especially during the peak summer season.

Norfolk County’s appeal seems to be at its highest in July, aligning with the maximum occupancy and revenue figures. The market, with its proximity to Lake Erie and the potential for growth in less saturated areas, offers a promising opportunity for Airbnb hosts seeking to capitalize on a competitive yet not overly crowded market.

Quinte West

Quinte West, located adjacent to Prince Edward County, presents an appealing and relatively competition-free Airbnb short-term rental market. The area currently features 153 active Airbnb listings, which are dispersed rather than concentrated in any specific part of the region. Even in the southern part of Quinte West, where listings are somewhat denser, the level of competition remains moderate.

The market in Quinte West is characterized by a high Average Daily Rate (ADR) of $359.8, with peak daily rates ranging from $382 to $390 during the months of June through August. This rate indicates a strong demand for accommodations, especially in the peak summer season.

The Occupancy Rate in Quinte West averages 43%, with July seeing the highest occupancy at 66%. This peak occupancy rate aligns with the trend of increased summer demand.

Financially, the Airbnb market in Quinte West is robust. The Average Revenue for hosts is approximately $3,569, with the Maximum Monthly Revenue in the months of July and August reaching between $6,400 and $6,500. The Revenue per Available Room (RevPAR) stands at $161, and the Weekend RevPAR significantly increases to $367, underscoring the popularity of weekend stays.

July is identified as the best month for Airbnb hosts in Quinte West in terms of revenue and occupancy. Despite a Market Score of 17, which might suggest potential for growth or certain market challenges, Quinte West offers an attractive opportunity for those looking to start an Airbnb business. With its lower competition and promising revenue prospects, it stands out as an excellent location for hosts seeking a balance between demand and market saturation.

Stratford

Stratford, a quaint locality on Prince Edward Island, showcases a unique and intimate Airbnb short-term rental market. The area currently has a total of 54 active listings, indicating a market that is small yet thriving. These listings are divided between Private Rooms, making up 33% of the market, and Entire Homes, which constitute the remaining 67%.

The market in Stratford is characterized by an Average Daily Rate (ADR) of $281.3, with the highest daily rate observed in July at $308. This rate points to a considerable demand for accommodations, particularly during the peak summer months. The Occupancy Rate averages at 53%, but experiences a notable peak in July, reaching 70%. This peak reflects the seasonal popularity of the area, especially in the summer months.

Financially, the Airbnb market in Stratford is performing well. Hosts enjoy an Average Revenue of approximately $2,976, with the Maximum Monthly Revenue in July and August ranging between $5,000 and $5,100. These figures suggest that despite the lower number of listings compared to larger markets, the market in Stratford is both competitive and profitable, especially during the peak season.

July stands out as the best month for Airbnb hosts in terms of revenue and occupancy. With a Market Score of 57, Stratford presents a balanced opportunity for Airbnb hosts. The market, with its limited competition and promising revenue prospects, is particularly attractive for those seeking to operate in a smaller, more manageable market with a steady demand.

Belleville

Belleville, situated near Quinte West, presents its own unique dynamics within the Airbnb short-term rental market. The city currently has 119 active rentals. These properties are mainly concentrated near the city center, with a few options available on the outskirts.

In Belleville, the Airbnb market is characterized by an Average Daily Rate (ADR) of $254.8, with the highest daily rates recorded in June at $297 and in September at $305. These figures indicate a considerable demand for accommodations, particularly in the peak summer months and early fall.

The Occupancy Rate in Belleville averages 50%, but it peaks in July at 69%. This peak occupancy rate reflects the seasonal attractiveness of the area, particularly during the summer.

From a financial perspective, the Airbnb market in Belleville is performing well. Hosts enjoy an Average Revenue of approximately $2,897, with the Maximum Monthly Revenue in July reaching $4,900. These figures suggest a profitable market, especially during the peak season of July.

July emerges as the best month for Airbnb hosts in Belleville in terms of revenue and occupancy. With a Market Score of 43, Belleville offers a promising opportunity for Airbnb hosts. The market, with a balanced combination of occupancy and ADR, presents a viable option for those seeking to capitalize on a steady yet not overly saturated rental market.

Owen Sound

Owen Sound, situated along the shores of Georgian Bay, offers a distinct and compact Airbnb short-term rental market. The area currently features 53 active rentals, showcasing a smaller yet active market segment.

In Owen Sound, the Airbnb market is characterized by an Average Daily Rate (ADR) of $220.5, with the highest daily rate in August reaching $232. This rate indicates a steady demand for accommodations, especially during the peak summer month.

The Occupancy Rate in Owen Sound averages at 53%, but it experiences a significant peak in August, rising to 76%. This peak occupancy rate reflects the area’s popularity during the summer, particularly in August, which is also identified as the best month for Airbnb hosts in terms of revenue and occupancy.

From a financial perspective, the Airbnb market in Owen Sound is performing well. Hosts enjoy an Average Revenue of approximately $2,749, with the Maximum Monthly Revenue in August reaching $4,500. These figures suggest a profitable market during the peak summer season.

Despite a Market Score of 13, which might indicate potential for growth or certain challenges in the market, Owen Sound presents a viable opportunity for Airbnb hosts. The market, with its limited competition and appealing summer demand, offers a balanced option for those seeking to operate in a smaller, manageable market with consistent seasonal demand.

Haldimand County

Haldimand County, located along the scenic shores of Lake Erie, presents a notable short-term rental market within its region. The area currently boasts 172 active rentals, indicating a modest yet active market for Airbnb hosts. A majority of these listings, constituting 82%, are Entire Homes, typically accommodating six to seven guests, catering to family or group stays.

The market in Haldimand County is characterized by an Average Daily Rate (ADR) of $329.3, with the highest daily rate in July reaching $389. This rate suggests a strong demand for accommodations, particularly during the peak summer months.

The Occupancy Rate in Haldimand County averages at 44%, but it sees a substantial increase in August, peaking at 63%. This peak occupancy rate aligns with the summer tourist season, reflecting the area’s popularity during this time.

Financially, the Airbnb market in Haldimand County is robust. Hosts enjoy an Average Revenue of approximately $3,604, with the Maximum Monthly Revenue in July and August reaching $6,400. These figures indicate a profitable market, particularly during the peak season of July and August.

Despite a Market Score of 35, Haldimand County offers a promising opportunity for those looking to start or expand their Airbnb business. The market’s main advantage lies in the relatively low density of listings, providing a less competitive environment for new hosts. With significant distances between operating properties, hosts in Haldimand County benefit from reduced direct competition, potentially making it an attractive location for those seeking to enter the market or for existing hosts aiming to capitalize on the summer peak. The combination of high ADR, substantial peak season revenue, and the potential for market growth makes Haldimand County a noteworthy option in the Airbnb landscape.

Orillia

Orillia, uniquely situated on the shores of Lake Simcoe, presents a compact and distinct Airbnb short-term rental market. The area currently features 128 active Airbnb listings, a slight increase from the previously mentioned 112. This market is predominantly composed of entire homes, ideally set up to accommodate five to six visitors, aligning with family or group travel needs.

The market in Orillia is characterized by an Average Daily Rate (ADR) of $249.1, with the highest daily rates occurring in July and August, reaching up to $286. This indicates a steady demand for accommodations, particularly during the summer months.

The Occupancy Rate in Orillia averages at 40%, with a notable peak in August at 54%. This peak occupancy reflects the area’s summer popularity, while also showing a significant seasonal variation, with occupancy dropping in the off-peak months.

From a financial perspective, the Airbnb market in Orillia is performing steadily. Hosts enjoy an Average Revenue of approximately $2,465, with the Maximum Monthly Revenue in July and August between $3,800 and $3,900. These figures suggest a profitable market during the peak summer season.

With a Market Score of 38, Orillia offers a promising opportunity for Airbnb hosts. The market’s main advantage is its unique location and the relatively low competition due to the small number of listings. The combination of a reasonable ADR, solid peak season revenue, and potential for growth in a market with lower real estate prices makes Orillia an attractive location for those looking to start or expand their Airbnb business, especially for those seeking opportunities in a smaller, manageable market.

Niagara Falls

Niagara Falls, strategically positioned between Lake Ontario and Lake Erie, offers a dynamic and potentially lucrative Airbnb short-term rental market. The area currently boasts 1,409 active Airbnb listings, indicating a market that is moderately competitive. The concentration of listings, given the area’s size, suggests that hosts will likely face some level of competition nearby.

In Niagara Falls, the Airbnb market is characterized by an Average Daily Rate (ADR) of $259.5, with the highest daily rate in July reaching $310. This rate reflects a strong demand for accommodations, particularly during the peak tourist season in July.

The Occupancy Rate in Niagara Falls averages at 47%, with a significant peak in July at 69%. This peak occupancy rate aligns with the summer tourist influx, showcasing the area’s popularity during this time.

Financially, the Airbnb market in Niagara Falls is performing well. Hosts enjoy an Average Revenue of approximately $3,044, with the Maximum Monthly Revenue in July climbing to $5,800. These figures suggest a profitable market, especially during the peak season.

Despite a Market Score of 21, which might indicate some challenges or potential for growth, Niagara Falls offers a promising opportunity for Airbnb hosts. The market, with its combination of a reasonable ADR, substantial peak season revenue, and a moderate level of competition, presents a viable option for those seeking to operate in a well-known tourist destination. The potential for high revenue, particularly in July, makes Niagara Falls an attractive location for both new and experienced hosts in the Airbnb market.

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