fbpx
Best Airbnb cities Ontario

The Best Places to Buy Airbnb Property in Ontario, Canada

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

CitiesRevenue
Prince Edward County$4,558
Port Colborne$3,605
Kawartha Lakes$3,587
Peterborough$3,381
Quinte West$3,181
Norfolk County$2,780
Stratford$2,638
Niagara Falls$2,383
Owen Sound$2,372
Haldimand County$2,322
Belleville$2,305
Elliot Lake$2,278
Orillia$2,047
Kingston$2,044
St. Catharines$2,016
Toronto$1,885
Ottawa$1,628

Toronto

Airbnb Toronto

Toronto is one of the largest short-term rental markets in the whole country. It is home to more than 10,500 active Airbnbs, which implies intense competition there. Most properties are located within the city center, however, you will find some listings in any other part of it. Around 30% of properties in the city are private rooms, while almost all the other listings are entire homes that may receive around four guests each.

More about the Toronto vacation rental market read here.

As for the financial metrics, the Average Daily Rate of listings in Toronto is $153 throughout the year, deviating between $131 and $191 in different seasons. The Occupancy Rate averages 77%, though the demand in winter is significantly lower than in summer. The average monthly Revenue of hosts in Toronto is $1,885.

Airbnb management services in Toronto.

St. Catharines

Located right next to Niagara Falls, St. Catharines has surprisingly different metrics. First of all, there are only 337 active listings here. And even though the area is very small, the properties are not packing it as densely as in some other regions.

The Average Daily Rate here is significantly lower than in Niagara Falls, as it is only $153 on average. The Occupancy Rate is, in contrast, higher, averaging 73% throughout the year. The Occupancy Rate seems to partially compensate for the reduced rates, as the Revenues of Airbnb hosts in St. Catharines average $2,016.

Kingston

Kingston is located on the opposite side of Lake Ontario, although it shares a lot with St. Catharines in terms of the short-term vacation rental market conditions. It has a small area that is home to 312 active rentals, most of which are entire homes with two bedrooms.

The ADR here averages $130, while the Occupancy Rate is 80% throughout the year. Even though the Occupancy Rate drops to 52% in January, the Average Daily Rates here are stable enough to generate local hosts an average monthly Revenue of $2,044.

Elliot Lake

Elliot Lake is quite a unique location, compared to the previous cities we have reviewed. It is not an extraordinarily popular destination for tourists, and it is only home to 22 active vacation rentals. Moreover, only 14 of them are located in the city itself, while the other 8 are scattered around the large area nearby.

With a market this small, you might be surprised how well local Airbnbs perform. The ADR here is $171, while the Occupancy Rate averages 68%. The average monthly Revenue of hosts in Elliot Lake is $2,278, which is quite impressive. Even though the data sample here is very small, it is still one of the best places in Canada for hosts who are looking for almost no competition and decent revenue potential.

Port Colborne

Port Colborne is also located right next to Niagara Falls and St. Catharines. It is another relatively small area with only 313 active Airbnb listings in it. The ADR here, however, is extremely high, as it averages $270. The Occupancy Rate is 68% on average, but it fluctuates between only 13% in January and 90% in August. On average, local hosts receive $3,605 worth of monthly revenue, which is so far the best result on our list.

Ottawa

Airbnb Ottawa

The market conditions in Ottawa are very different from the ones of Toronto. There are only 1,800 active listings there right now, meaning the competition is not as severe. Similarly to the previous city, most properties are entire homes with an average of two bedrooms.

More about the Ottawa vacation rental market read here.

The Average Daily Rate in Ottawa is $120 throughout the year, and it does not deviate between different seasons as much. The Occupancy Rate averages 73%, while the monthly Revenue of local hosts is $1,628. Financially, you can expect your property in Ottawa to show similar performance as if it was in Toronto.

Airbnb management services in Ottawa.

Prince Edward County

Prince Edward County is another area with access to Lake Ontario. There are around 1,220 active listings here, the vast majority of which being entire homes that can accept from five to six guests.

The Average Daily Rate here is $311. Combined with the average Occupancy Rate of 72%, it grants local hosts $4,558 worth of monthly revenue. It is almost 2.4 times more than hosts in Toronto receive, but it is still not the best place in Canada in terms of hosts’ revenues.

Peterborough

In contrast to the previous places, Peterborough is not located on the shores of Canada’s major lakes. Instead, it has several small lakes, and around 900 local Airbnbs are scattered around them. The city center is densely packed with properties, but there is enough room for more rentals outside.

The Average Daily Rate in Peterborough is $278, while the Occupancy Rate fluctuates between 36% in January and 87% in August, averaging 69%. The average monthly revenue of local entrepreneurs is $3,381. It reaches its peak of $5,143 in August but falls all the way down to $1,744 in January.

Kawartha Lakes

Kawartha Lakes is an area right next to Peterborough, so there is no surprise the market conditions here are very similar. There are 738 active short-term vacation rentals here, but in contrast to most other regions, only 69% of them are exclusively listed on Airbnb. VRBO’s exclusive share in Kawartha Lakes is 12%, while the other 19% of properties are listed on both platforms.

The ADR in Kawartha Lakes is a bit higher than in Peterborough, as it averages $314, however, the Occupancy Rate is slightly lower, as it averages 57%. The seasonality of demand here is exactly the same, as the Occupancy Rates and Revenues are significantly lower in January than they are in August. On average, the monthly Revenue of a host in Kawartha Lakes is $3,587.

Norfolk County

Norfolk County occupies a small area on the shores of Lake Erie. There are only 252 Airbnbs here, most of them being located within minutes of walking away from the water. Even though the area is small, there is still room for more hosts here, as some parts of Norfolk County are completely vacant from competition.

The Average Daily Rate is not as high as in some other regions, averaging $217 throughout the year. The same applies to Occupancy Rate, as it averages 63%. Norfolk County is mostly popular in August when it reaches its Occupancy Rate peak of 86%. The average monthly revenue of entrepreneurs in this area is $2,780, which is lower than in some other parts of Canada, but still competitive enough.

Quinte West

Located right next to Prince Edward County, Quinte West is yet another place with almost no competition. There are only 154 properties active here and they are not even concentrated in the same part of the area. The southern part of Quinte West is packed with listings a bit more densely but would be a stretch to label it as intense competition.

The ADR in Quinte West is $251 on average, fluctuating between $221 in May and $287 in July. The Occupancy Rate averages 63%, which is exactly the same as in Norfolk County. However, the Revenue here is higher, as it averages $3,181 per month throughout the year. All in all, Quinte West is an extremely attractive place for launching an Airbnb business, especially, if you’re looking for a decent balance between competition and revenue.

Stratford

Stratford is a very small area on Prince Edward Island, and the performance of vacation rentals here is corresponding. At the time of writing, there are only 60 entire homes and 26 private rooms available in Stratford. And even though the competition is almost absent here, the other metrics are quite decent.

For example, the Average Daily Rate of local listings is $191, which is fairly moderate. However, it is compensated for by the Occupancy Rate that averages 83%. This results in local hosts generating an average monthly Revenue of $2,638 throughout the year.

Belleville

Belleville is located right next to Quinte West, but the market conditions are not exactly the same here. There are 112 active rentals here, most of which are entire homes that can accept up to five guests. Most of them are concentrated near the city center, though there are some Airbnbs on the outskirts.

The destination is not as popular among tourists, so the Average Daily Rate here is only $154. However, this low price charged for local properties allows the hosts in Belleville to benefit from an average Occupancy Rate of 73%. This, in turn, grants them average monthly Revenues of $2,305 per property, which is still quite decent.

Owen Sound

Owen Sound is the first place on our list that is located on the shores of Georgian Bay. It is another extremely small area with only 72 active rentals on it. The data sample might be not as representative here, but it still indicates a similar performance of local properties as in Belleville.

The Average Daily Rate of local Airbnbs is $139. The Occupancy Rate is actually quite impressive, as it averages 75%. Similar to most other regions that we have reviewed today, the Occupation Rates in Owen Sound reach its peak of 90% in August and fall all the way down to 45% in January. The Revenues of local hosts are, on average, $2,372 per month.

Haldimand County

Haldimand County is the last place on our list that is located on the shores of Lake Erie. It is home to 171 rentals that are currently operating. Entire homes make up for 82% of all the properties here, and they can accept from six to seven guests on average.

The ADR in Haldimand County is $208. It is a bit higher than in the previous areas, but the Occupation Rate averages only 53%, which hurts the Revenue a bit. Per month, local hosts averagely receive $2,322 worth of Revenue. Even despite the performance not being the best, Haldimand County might still be a great opportunity for launching your Airbnb business. The main benefit of this place is the space that is still unoccupied. The distance between operating properties is significant, which means you won’t have to compete with too many other hosts here.

Orillia

Orillia is the last place on our list and it is also the only one located on the shores of Lake Simcoe. It is an extremely small area with 112 active Airbnbs on it. Similar to many other areas that we have already reviewed, most properties in Orillia are entire homes that are capable of accepting from five to six visitors at a time.

The Average Daily Rate hosts in Orillia charge is only $163, however, it does not fluctuate too much between the seasons. In contrast to that, the Occupancy Rate drops from 66% in September to 32% in February, averaging 52% annually. The average monthly Revenue properties in Orillia generate is $2,047. Even though the former metric is one of the lowest on our today’s list, it is still an attractive opportunity for investment, as the prices on real estate are relatively low here.

Niagara Falls

Airbnb Niagara Falls

Located right between Lake Ontario and Lake Erie, Niagara Falls is another interesting place to start an Airbnb business. There are not so many competitors there, as it is home to only 1,242 active listings. However, it is important to remember that its area is not as large, meaning you will always have some competing properties nearby.

The Average Daily Rate here is $192, which is higher than in the previous regions. The Occupancy Rate, however, is relatively low, as it averages only 53% throughout the year. Nevertheless, local hosts seem not to be as disappointed about the previous metric, as their average monthly Revenue is $2,383, which is higher than in Toronto and Ottawa.

Discover the best places to buy Airbnb property in Alberta.