Top 10 Best Cities in Canada for Airbnb
As a country, Canada is a great choice for an Airbnb business investment. The general market conditions are comfortable, while the legislation is not as strict as in some other countries. Many entrepreneurs have already demonstrated their successful cases there, and the common lesson that can be learned from all of them is that choosing the correct city to operate in is essential.
How to buy an Airbnb property is explained here.
Best Cities for Airbnb Investments in Canada
There are multiple cities that could easily interest an aspiring Airbnb entrepreneur in Canada. Some of them are large megapolises with sustainable and predictable incomes, while the others are rapidly developing towns with huge potential for the future. In the article, the most attractive options will be reviewed with all the essential information for each city.
| Cities | Revenue |
| Whistler | $7,268 |
| Kelowna | $3,694 |
| Squamish | $4,201 |
| Victoria | $3,742 |
| Vancouver | $4,252 |
| White Rock | $2,844 |
| Toronto | $2,941 |
| Richmond | $2,338 |
| Burnaby | $2,586 |
| Ottawa | $2,278 |
Whistler
- Average Daily Rate (ADR): $484.2
- Maximum Daily Rate: $669 (in December)
- Peak Rates: $640 (in January) and $641 (in February)
- Occupancy Rate: 62%
- Maximum Occupancy Rate: 88% (in February)
- Total Available Listings: 3,532
- Average Revenue: $7,268
- Maximum Monthly Revenue: $12,800 (in January and February)
- Revenue Per Available Room (RevPAR): $274.6
- Weekend Revenue Per Available Room: $488
- Best Performing Month: February
- Market Score: 72
Whistler, renowned for its stunning landscapes and vibrant tourist scene, currently stands as the top performer in Canada in terms of monthly revenues from short-term rentals. Despite the boom in the local short-term rental market in recent years, opportunities still exist for new entrepreneurs. Presently, Whistler hosts an impressive total of 3,532 Airbnb listings, with certain areas not yet fully saturated with properties.
The financial metrics of Whistler’s Airbnb market are exceptionally strong, primarily due to the high rates charged by local hosts. The Average Daily Rate (ADR) is a remarkable $484.2, the highest among all Canadian cities discussed in this list. This rate peaks during the winter months, reaching $669 in December, $640 in January, and $641 in February. Despite these high rates, demand remains robust, with an average Occupancy Rate of 62% and a peak of 88% in February. This demand reflects Whistler’s popularity as a premier vacation destination, especially during the ski season.
The market’s performance is further underscored by its revenue figures. The Average Monthly Revenue for Airbnb hosts in Whistler is a staggering $7,268, with the highest monthly earnings in January and February soaring to $12,800. The Revenue Per Available Room (RevPAR) stands at $274.6, with an even more impressive $488 during weekends, indicating the city’s popularity for weekend getaways and short breaks.
With a Market Score of 72, Whistler’s Airbnb market, while highly competitive, shows significant potential for growth and profitability. The combination of its scenic appeal, strong demand, especially in the winter months, and the predominance of entire home listings (98%) makes it an enticing market for investors and hosts. The current data suggests that Whistler is not only maintaining its position as a leading destination for tourists but also as a top choice for Airbnb investments in Canada.
- Airbnb Management Whistler by MasterHost
- 5 Things to Know Concerning Airbnb Profitability in Whistler
- How to Start an Airbnb Business in Whistler
- Host tips: a local guide to Whistler for your guests
- Most Important Dates When Managing Airbnb in Whistler
Kelowna
- Average Daily Rate (ADR): $323.2
- Maximum Daily Rate: $392 (in July)
- Occupancy Rate: 54% average
- Maximum Occupancy Rate: 71% (in July)
- Total Available Listings: 1,397
- Average Revenue: $3,694
- Maximum Monthly Revenue: $7,100 (in July)
- Revenue Per Available Room (RevPAR): $181
- Weekend Revenue Per Available Room: $331
- Best Performing Month: July
- Market Score: 37
Kelowna, known for its picturesque landscapes and distinct appeal, is a city with a burgeoning yet sustainable short-term vacation rental market. After experiencing a period of stagnation due to the pandemic, the Airbnb market in Kelowna is now showing signs of significant growth.
Currently, Kelowna boasts a considerable number of active Airbnb listings, totaling 1,397 properties. This market offers a diverse range of rental sizes: 40% of listings are two-bedroom properties, followed by 29% one-bedroom, 21% three-bedroom, 7% four-bedroom, and 3% for larger homes with five or more bedrooms. This variety caters to different guest needs and preferences, from solo travelers to larger groups.
In terms of rental types, the market is predominantly made up of entire homes, which constitute 90% of the listings, while private rooms make up 10%. This distribution suggests a preference among travelers for more private and spacious accommodations.
Kelowna’s Airbnb market is characterized by strong performance. The Average Daily Rate (ADR) is $323.2, with a peak in July at $392. The Occupancy Rate averages 54%, with a high of 71% in July, indicating a robust demand during the summer months. The Average Monthly Revenue for hosts is around $3,694, with the highest earnings in July, reaching up to $7,100. The Revenue Per Available Room (RevPAR) stands at $181, with a significant increase to $331 during weekends.
Despite a Market Score of 37, Kelowna’s Airbnb market demonstrates a healthy and profitable environment, especially during the peak tourist season in July. The city’s appeal as a summer destination, coupled with the diverse range of property types and the recent growth in the market, makes Kelowna an attractive option for investors and hosts in the Airbnb space. The current data suggests that Kelowna is not only a popular tourist destination but also an emerging market for lucrative Airbnb investments.
Squamish
- Average Daily Rate (ADR): $294.2
- Maximum Daily Rate: $328 (in July)
- Occupancy Rate: 65% average
- Maximum Occupancy Rate: 84% (in July)
- Total Available Listings: 344
- Average Revenue: $4,201
- Maximum Monthly Revenue: $6,200 (in July-August)
- Revenue Per Available Room (RevPAR): $187
- Weekend Revenue Per Available Room: $306
- Best Performing Month: July
- Market Score: 96
The city of Squamish presents an attractive investment opportunity, despite some of its metrics being less impressive than other areas. What truly sets Squamish apart is its remarkably mild competition, offering a conducive environment for potential investors. This remote city offers all the attractions that tourists seek.
As of the latest data, the Average Daily Rate (ADR) in Squamish stands at $294.2, with a peak of $328 in July. The Occupancy Rate is a noteworthy 65%, with a maximum rate of 84% in July. There are a total of 344 listings available, with a distribution of rental sizes including 1 bedroom (48%), 2 bedrooms (17%), 3 bedrooms (21%), 4 bedrooms (11%), and 5+ bedrooms (4%). In terms of rental types, Private Room listings make up 18%, while Entire Home listings dominate at 81%. The Average Revenue for hosts in Squamish is $4,201, with the highest monthly revenue recorded between July and August at $6,200. The Revenue per Available Room (RevPAR) is $187, and the Weekend RevPAR is $306. The peak month for this market is July, and it boasts a Market Score of 96.
Victoria
- Average Daily Rate (ADR): $217.1
- Maximum Daily Rate: $261 (in July and August)
- Occupancy Rate: 71% average
- Maximum Occupancy Rate: 86% (in August)
- Total Available Listings: 1,279
- Average Revenue: $3,742
- Maximum Monthly Revenue: $5,500 (in July and August)
- Revenue Per Available Room (RevPAR): $160
- Weekend Revenue Per Available Room: $232
- Best Performing Month: August
- Market Score: 90
Victoria’s Airbnb rental market boasts an Average Daily Rate (ADR) of $217.1, with peak rates observed in July and August, reaching up to $261-259. The Occupancy Rate remains strong, averaging 71%, and peaking at an impressive 86% in August. There are a total of 1,279 available listings in Victoria, with the majority being entire homes, constituting 89% of the listings. The distribution of rental sizes includes 1 bedroom (59%), 2 bedrooms (36%), 3 bedrooms (5%), and 4 bedrooms (1%). In terms of rental type, Private Rooms make up 11% of the listings.
The Average Revenue in Victoria is approximately $3,742, with the potential for higher earnings during July and August, where hosts can achieve a maximum monthly revenue of up to $5,500. The Revenue Per Available Room (RevPAR) stands at $160, with a Weekend RevPAR of $232. August emerges as the best-performing month in Victoria, and the city holds a commendable Market Score of 90.
Useful links:
- Earning Profits with Airbnb in Victoria: Top 5 Insights to Consider
- Navigating the Regulatory Guidelines for Airbnb in Victoria, Canada
- Top Dates to Keep in Mind When Running Airbnb in Victoria
- Tips for Hosts: Provide Your Guests With a Local Guide Around Victoria
- How to start an Airbnb business in Victoria
White Rock
- Average Daily Rate: $233.6
- Maximum Daily Rate (in July): $255
- Occupancy Rate (average): 52%
- Maximum Occupancy Rate (in July): 72%
- Total Available Listings: 131
- Average Revenue: $2,844
- Maximum Monthly Revenue (in July): $4,200
- Revenue Per Available Room (RevPAR): $127.9
- Weekend Revenue Per Available Room: $231
- Best Performing Month: July
- Market Score: 74
White Rock, situated near the US border, presents an intriguing opportunity for investment in the short-term rental market. With 131 total available listings, the city offers a diverse range of options, with rental sizes including 1 bedroom (35%), 2 bedroom (47%), 3 bedroom (13%), 4 bedroom (3%), and 5+ bedroom (2%). Listings predominantly fall under the Entire Home category, constituting 91% of the offerings.
White Rock’s Average Daily Rate (ADR) stands at $233.6, with the highest daily rates observed in July reaching $255. The city maintains a moderate Occupancy Rate of 52%, with the maximum occupancy rate peaking at 72% in July. The Average Revenue generated by hosts in White Rock is approximately $2,844, and July presents the opportunity for hosts to earn a maximum monthly revenue of up to $4,200. The city achieves a Revenue Per Available Room (RevPAR) of $127.9, with a Weekend RevPAR of $231. July emerges as the best-performing month, and White Rock maintains a respectable Market Score of 74.
- The Ultimate Handbook to Taxes on Airbnb Earnings in White Rock
- Airbnb Management White Rock by MasterHost
Vancouver
- Average Daily Rate (ADR): $256.2
- Maximum Daily Rate (in July): $314
- Occupancy Rate (average): 70%
- Maximum Occupancy Rate (in July): 86%
- Total Available Listings: 5,326
- Average Revenue: $4,252
- Maximum Monthly Revenue (in July): $6,500
- Revenue Per Available Room (RevPAR): $188
- Weekend Revenue Per Available Room: $275
- Best Performing Month: July
- Market Score: 92
Vancouver boasts one of the largest Airbnb markets in Canada, with over 5,300 total available listings. This extensive market size presents both opportunities and challenges for hosts and investors. High competition is a notable feature, as numerous hosts aim to attract travelers to their properties. The market is diverse, ranging from private rooms to entire homes.
The city maintains a moderate ADR of $256.2, indicating that pricing is relatively competitive. This is partly due to the significant number of listings. ADR tends to fluctuate, with the highest rates seen in July reaching up to $314 per night. Vancouver’s average occupancy rate is a commendable 70%, reflecting a consistent demand for accommodations throughout the year. The peak occupancy rate is observed in July at 86%, while the lowest rates occur in November.
Hosts in Vancouver generate an average monthly revenue of $4,252. The revenue potential is substantial, driven by the high occupancy rates. During peak months, such as July, hosts can earn up to $6,500 in monthly revenue.
Vancouver experiences strong seasonal trends, with the best-performing month being July. The city attracts a significant number of tourists during the summer months. The off-season, typically in winter, sees lower rates and occupancy, but the market remains active year-round. The market score for Vancouver is 92, indicating a robust and competitive short-term rental market. Hosts need to employ effective strategies to stand out.
Vancouver is undoubtedly one of the top Canadian cities for Airbnb hosting and investment. Its large market, consistent demand, and significant revenue potential make it an attractive destination for hosts and investors alike. However, competition is fierce, and hosts must stay informed about market dynamics and regulations to thrive in this vibrant short-term rental ecosystem.
Useful links:
- Why Investing in Airbnb in Vancouver is a Great Idea
- Airbnb Regulations in Vancouver
- Top Vancouver Neighbourhoods for Airbnb
- Vital Dates to Consider When Handling Airbnb in Vancouver
Richmond
- Average Daily Rate (ADR): $168.3
- Maximum Daily Rate (July): $204
- Average Occupancy Rate: 56%
- Maximum Occupancy Rate (July): 67%
- Total Available Listings: 1,476
- Average Monthly Revenue: $2,338
- Maximum Monthly Revenue (July, August): $3,400 and $3,300
- Revenue Per Available Room (RevPAR): $101
- Weekend RevPAR: $184
- Best Performing Month: July
- Market Score: 48
Read an Overview of the Airbnb Regulations in Richmond, BC.
Explore Airbnb Management Richmond by MasterHost.
Richmond’s vacation rental market showcases some intriguing characteristics for investors. The city’s average daily rate (ADR) stands at $168.3, with a notable spike in July where it reaches $204. This seasonal variation is further highlighted by the occupancy rates, averaging 56% overall but climbing to 67% in July, indicating a peak tourist season. Richmond offers a diverse array of 1,476 listings, predominantly composed of 1-bedroom (65%) and 2-bedroom (27%) properties, with larger sizes being less common. The market is fairly balanced in terms of rental types, with 43% of listings being private rooms and 57% being entire homes. This composition offers a variety of investment options.
Financially, the average monthly revenue from these rentals is an impressive $2,338, with the summer months of July and August seeing maximum revenues of $3,400 and $3,300, respectively. The Revenue Per Available Room (RevPAR) averages at $101, but this figure rises to $184 during weekends, reflecting higher demand. The best-performing month in Richmond’s rental market is July, aligning with the tourism peak. Finally, the market scores 48, which might indicate its potential and stability for investment, especially considering the diverse range of property types and sizes available.
Toronto
- Average Daily Rate (ADR): $214
- Maximum Daily Rate (July-September): $225-229
- Average Monthly Revenue: $2,941
- Maximum Monthly Revenue (June-September): $3,500 – $3,600
- Revenue Per Available Room (RevPAR): $133.5
- Weekend RevPAR: $233
- Best Performing Month: June
- Market Score: 94
Toronto stands out as the largest short-term rental market among all the cities listed, demonstrating impressive figures and growth. The city boasts 14,083 total available listings, reflecting its vast market size. The average daily rate (ADR) in Toronto is $214, with the rate increasing during the peak summer months of July to September, ranging between $225 and $229. Occupancy rates average at 58%, with a notable peak in June reaching 70%, indicating a high demand during this period.
The rental market in Toronto is diverse, with 64% of listings being 1-bedroom units, 23% 2-bedroom, 9% 3-bedroom, 3% 4-bedroom, and 1% for 5+ bedroom properties. In terms of rental types, 34% are private rooms, a majority of 65% are entire homes, and a small fraction of 1% are shared rooms.
The average revenue from rentals in Toronto is substantial at $2,941 per month, with the maximum monthly revenue during June to September reaching between $3,500 and $3,600. The Revenue Per Available Room (RevPAR) stands at $133.5, and it increases significantly on weekends, going up to $233. June emerges as the best-performing month for the rental market in Toronto. Lastly, the market scores an impressive 94, highlighting its robustness and appeal for investment and short-term rental businesses.
Top reasons why Airbnb in Toronto is a great investment can be read here.
- 5 Toronto Airbnb Neighborhoods Through the Eyes of Local Hosts
- An In-depth Look at 5 Toronto Neighborhoods for Airbnb
- Profitability of Airbnb in Toronto: 5 Key Insights to Be Aware Of
- Hosting Recommendations: A Guide to Toronto for Your Guests
Burnaby
- Average Daily Rate (ADR): $172
- Maximum Daily Rate (July-August): $204 – $200
- Average Occupancy Rate: 65%
- Maximum Occupancy Rate (July): 80%
- Total Available Listings: 1,088
- Average Monthly Revenue: $2,586
- Maximum Monthly Revenue (July): $3,800
- Revenue Per Available Room (RevPAR): $117
- Weekend RevPAR: $179
- Best Performing Month: July
- Market Score: 95
Burnaby, adjacent to Vancouver, continues to be a promising location for launching an Airbnb business. It shows a robust quarterly rental growth of 27%, with several areas still experiencing minimal competition. Similar to Richmond, Burnaby has more than 60% of its listings as entire homes, a factor that should be considered in market analysis.
Currently, Burnaby has approximately 1,088 rental properties. The average daily rate (ADR) for these rentals is $172, with a peak rate in July and August ranging between $204 and $200. The overall occupancy rate stands at 65%, with a maximum occupancy rate in July reaching 80%. This indicates a strong seasonal demand, particularly in the summer months.
The rental properties in Burnaby are varied, with 60% being 1-bedroom, 28% 2-bedroom, 7% 3-bedroom, 3% 4-bedroom, and 2% for properties with 5 or more bedrooms. In terms of rental types, there’s a fairly even distribution, with 35% private rooms, 64% entire homes, and 2% shared rooms.
Financially, the average monthly revenue for a rental in Burnaby is $2,586, with the maximum revenue in July going as high as $3,800. The Revenue Per Available Room (RevPAR) is $117, and this figure increases to $179 during weekends, reflecting higher demand. July stands out as the best-performing month for rentals in Burnaby. The market scores an impressive 95, highlighting its potential and attractiveness for investment and short-term rental operations.
Ottawa
- Average Daily Rate (ADR): $161.6
- Maximum Daily Rate (July): $177
- Occupancy Rate: 58%
- Maximum Occupancy Rate (July): 69%
- Total Available Listings: 2,327
- Average Monthly Revenue: $2,278
- Maximum Monthly Revenue (July): $3,000
- Revenue Per Available Room (RevPAR): $98
- Weekend RevPAR: $174
- Best Performing Month: June
- Market Score: 95
Ottawa’s short-term rental market presents a notable opportunity for investors. The city hosts 2,327 active Airbnb listings, a majority of which, 67%, are categorized as entire homes. This suggests potential in certain areas that are not yet heavily saturated with rentals.
Explore Airbnb Management Ottawa by MasterHost.
In terms of financial metrics, the Average Daily Rate (ADR) in Ottawa is $161.6, peaking at $177 in July. The overall occupancy rate hovers around 58%, with a seasonal high in July reaching 69%. The diversity in rental sizes is apparent, with 1-bedroom properties constituting 56% of the market, followed by 2-bedroom at 19%, 3-bedroom at 14%, 4-bedroom at 8%, and 5+ bedroom properties at 3%. Rental types are varied as well, with private rooms making up 38% of the listings and entire homes (62%).
The average monthly revenue from these rentals stands at $2,278, and the highest monthly revenue, typically in July, can reach up to $3,000. The Revenue Per Available Room (RevPAR) averages at $98, with a notable increase to $174 during weekends. June emerges as the best-performing month for the rental market in Ottawa, reflecting a peak in demand. The high market score of 95 further underscores Ottawa’s potential as an attractive location for short-term rental investments, despite the current market dynamics.
