Interestingly, Hamilton experienced the highest rental appreciation for 2023 in Canada (Next to Calgary), surpassing Toronto by 150%. This significant increase in rental rates appears to correlate with population migration driven by lower cost of living and lower real estate prices.
Hamilton ranks as the third largest city in Ontario, following Toronto and Ottawa respectively. Situated approximately 90 minutes away from Toronto's core, as mentioned in my previous post, Hamilton boasts excellent transport connectivity with well-established highways and GO Transit services.