Peterborough Rent Prices — Updated for May 2026
Report for May 2026 · Updated monthly by Door Insight
The median rent for a two-bedroom unit in Peterborough is $2,000 per month as of May 2026. One-bedroom units are asking $1,600, two-bedrooms $2,000, and three-bedrooms $2,400. Asking rents have climbed 0.3% compared to the same period last year.
Peterborough Rent Trends — Historical Chart
Peterborough Rental Market Summary — May 2026
The median asking rent for a two-bedroom unit in Peterborough is $2,000 per month as of May 2026. Month-over-month, two-bedroom rents rose 8.1%. One-bedroom units are listing at a median of $1,600, while three-bedroom units sit at $2,400. The three-bedroom segment is moving fastest year-over-year at -9.4%.
Year-over-year, Peterborough's two-bedroom median asking rent has increased 0.3%. One-bedroom rents moved -2.7% over the same period. Three-bedroom rents shifted -9.4% year-over-year. These figures reflect asking rents from active listings analysed by Door Insight.
By Property Type
Condo two-bedroom units in Peterborough have a median asking rent of $1,850 (-7.3% YoY). House two-bedroom units in Peterborough have a median asking rent of $2,195 (+9.9% YoY).
Property managers in Peterborough should consider current market trajectory when setting rental rates. The data on this page provides a baseline for pricing decisions across Peterborough's rental market. For property-specific estimates, Door Insight's Rent Estimator provides address-level analysis.
Average Rent in Peterborough by Bedroom Count
The table below shows median and average asking rents in Peterborough, Ontario as of May 2026.
| Bedrooms | Median Rent | Average Rent | Month-over-Month | Year-over-Year |
|---|---|---|---|---|
| 1 Bedroom | $1,600 | $1,549 | ↑ 0.3% | ↓ 2.7% |
| 2 Bedroom | $2,000 | $1,951 | ↑ 8.1% | ↑ 0.3% |
| 3 Bedroom | $2,400 | $2,367 | ↑ 0% | ↓ 9.4% |
Among the bedroom types tracked in Peterborough, 2 Bedroom units are showing the strongest year-over-year movement. Property managers pricing 2 bedroom units may have additional room to adjust asking rents, while slower-moving segments may warrant more competitive positioning to minimise vacancy.
Peterborough Rent by Property Type
Rental rates in Peterborough differ by property type. The table below breaks down median two-bedroom rents as of May 2026.
| Property Type | Median Rent (2BR) | Month-over-Month | Year-over-Year |
|---|---|---|---|
| All Types | $2,000 | ↑ 8.1% | ↑ 0.3% |
| Condo | $1,850 | ↑ 0% | ↓ 7.3% |
| House | $2,195 | ↑ 12.6% | ↑ 9.9% |
Among property types, House rents are growing the fastest year-over-year, while Condo rents are growing the slowest.
Condo Rent in Peterborough
| Bedrooms | Median Rent | Average Rent | YoY Change | MoM Change |
|---|---|---|---|---|
| 1 Bedroom | $1,650 | $1,565 | ↑ 0% | ↑ 6.5% |
| 2 Bedroom | $1,850 | $1,920 | ↓ 7.3% | ↑ 0% |
| 3 Bedroom | $2,450 | $2,450 | ↑ 8.9% | ↑ 19.6% |
House Rent in Peterborough
| Bedrooms | Median Rent | Average Rent | YoY Change | MoM Change |
|---|---|---|---|---|
| 1 Bedroom | $1,650 | $1,698 | ↑ 6.5% | ↑ 1.7% |
| 2 Bedroom | $2,195 | $2,086 | ↑ 9.9% | ↑ 12.6% |
| 3 Bedroom | $2,400 | $2,387 | ↓ 12.7% | ↓ 4% |
Is Peterborough Rent Going Up or Down?
Peterborough rents are rising. The current median two-bedroom asking rent is $2,000 per month. Year-over-year, two-bedroom rents have increased 0.3%. Month-over-month, the change is +8.1%.
The upward trajectory in Peterborough suggests ongoing demand pressure. Property managers may have room to adjust asking rents upward, though competitive pricing remains important for faster lease-up.
How Does Peterborough Rent Compare?
Peterborough vs. Nearby Cities
| City | Median Rent (2BR) | vs. Peterborough |
|---|---|---|
| Toronto | $2,600/mo | +30% |
| Ottawa | $2,395/mo | +19.8% |
| Mississauga | $2,350/mo | +17.5% |
| Hamilton | $1,992/mo | -0.4% |
Among nearby markets, Hamilton offers the lowest two-bedroom median at $1,992/mo, while Toronto is the most expensive at $2,600/mo. These differences can influence tenant migration patterns and pricing strategies for property managers operating across the Ontario market.
What This Means for Property Managers in Peterborough
Pricing Guidance
Based on current data, the median two-bedroom asking rent in Peterborough is $2,000 per month. One-bedroom units are asking $1,600, and three-bedroom units list at $2,400. With two-bedroom rents up 0.3% year-over-year, the data suggests pricing power remains with landlords. When pricing by property type: condo units have a median two-bedroom rent of $1,850; house units have a median two-bedroom rent of $2,195; Property managers should benchmark their asking rents against these figures and adjust based on unit condition, location, and amenities.
Lease Renewal Strategy
With relatively stable rents in Peterborough, property managers should focus on tenant retention. Modest adjustments aligned with market rates help maintain occupancy without pushing tenants to shop the market.
Market Outlook
Based on current trends, Peterborough's rental market is on an upward trajectory. The most recent month-over-month movement of +8.1% provides a near-term signal for pricing direction. This is data-informed analysis based on listing trends and should not be treated as a guarantee of future market conditions. Property managers may want to monitor Door Insight's monthly updates for the latest figures.
About This Report
Data Sources
This Peterborough rental market report is based on active and recently listed rental units analysed across major Canadian listing platforms during May 2026. Data is aggregated from listings across Canada and refreshed monthly.
Methodology
Both median and average rents are provided for each bedroom count. The median is used as the primary measure because it is less affected by extreme values at either end of the price range. All figures reflect asking rents (listed prices), which may differ from final lease prices negotiated between landlord and tenant.
Data Confidence
Neighbourhoods and property types with smaller sample sizes may be less representative of actual market conditions. Where sample sizes are shown, they can be used to gauge the reliability of that data point.
Update Schedule
This report is updated monthly. The next update is expected in July 2026.
Frequently Asked Questions About Renting in Peterborough
- What is the average rent in Peterborough?
- The median rent for a two-bedroom unit in Peterborough is $2,000 per month. The average rent for a two-bedroom is $1,951 per month. One-bedroom units have a median asking rent of $1,600. Three-bedroom units have a median asking rent of $2,400. These figures are based on current listing data analysed by Door Insight.
- How much should I charge for a 2-bedroom rental in Peterborough?
- The median two-bedroom rental rate in Peterborough is $2,000 per month across all property types. By type: Condo at $1,850, House at $2,195. For a property-specific estimate based on exact address, unit size, and features, use Door Insight's Rent Estimator tool.
- Is rent going up or down in Peterborough?
- Peterborough rents are rising. The median two-bedroom asking rent has changed 0.3% year-over-year. Month-over-month, two-bedroom rents moved 8.1%. This data reflects current listing prices analysed by Door Insight.
- What is the vacancy rate in Peterborough?
- Vacancy rate data for Peterborough is updated periodically on Door Insight. Check back for the latest figures on rental vacancy in the Peterborough market.
- Which Peterborough neighbourhood has the highest rent?
- Neighbourhood-level rent data for Peterborough is available through Door Insight's Market Rent Pro platform. Premium neighbourhoods typically command the highest asking rents in the city.
- Which Peterborough neighbourhood has the lowest rent?
- For a detailed neighbourhood breakdown of Peterborough rental rates, including the most affordable areas, explore Door Insight's neighbourhood data tools.
- How do Peterborough rents compare to other Ontario cities?
- Peterborough two-bedroom median rents have increased 0.3% year-over-year. For direct comparisons to other Ontario cities, see the city comparison section on this page or explore individual city reports on Door Insight.
Get a Rent Estimate for Your Property
The city-level data on this page provides a market overview for Peterborough. For a property-specific estimate based on exact address, unit size, and features, try Door Insight's Rent Estimator.
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