Thinking Oakville is to Pricey to Rent? Here’s Why You’re Wrong!
When people think of Oakville, they often imagine a picturesque town with tree-lined streets, luxurious homes, and a higher cost of living. While Oakville is known for its affluence, it might surprise you to learn that renting here can be more affordable than you think.
As a seasoned real estate agent in the GTA, we’re going to break down why Oakville can be a viable option for renters and why it’s a fantastic place to call home.
Average Rental Prices in Oakville in 2024
First, let's get into the numbers. The average rental prices in Oakville for 2024 are competitive and, in some cases, comparable to or even lower than other cities in the GTA:
One-bedroom apartments: Approximately $2,300 per month.
Two-bedroom apartments: Around $2,900 per month.
Three-bedroom apartments: Can exceed $3,500 per month.
Comparing Oakville to Other GTA Cities
When comparing these prices to nearby cities:
Mississauga: One-bedroom averages about $2,594.
Burlington: One-bedroom around $2,566.
Milton: More affordable with one-bedroom rents at $2,459.
Toronto: More expensive with one-bedroom rents around $2,500 and 3-bedroom about $3,300 per month
Considering these figures, Oakville’s rental prices are not drastically higher than other desirable areas in the GTA.
Why Oakville is a Great Place to Live
Oakville is known for its beautiful neighbourhoods, excellent schools, and vibrant community. Nestled on the shores of Lake Ontario, it offers stunning waterfront views, numerous parks, and a charming downtown area filled with boutique shops, restaurants, and cultural attractions. Oakville combines small-town charm with urban amenities, making it a sought-after place to call home.
Oakville offers a high quality of life, which can justify the rental costs. Here’s why Oakville stands out:
Excellent Education
Oakville is home to some of Ontario’s top-rated public and private schools. For families, this means access to excellent educational opportunities, which is a significant draw.
Beautiful Neighbourhoods
Oakville's neighborhoods are well-planned and beautifully maintained. Areas like Old Oakville, Bronte, and Glen Abbey offer distinct charm and character, each with unique amenities and community vibes.
Access to Nature
With over 200 parks, numerous trails, and a picturesque waterfront, Oakville provides ample outdoor recreation opportunities. The town’s commitment to green spaces makes it a haven for those who enjoy an active lifestyle.
Convenient Commute
Oakville is strategically located with easy access to major highways and the GO Transit system. This makes commuting to Toronto or other parts of the GTA convenient for residents, balancing work in the city with suburban tranquility.
Vibrant Community
Oakville hosts a variety of cultural events, farmers' markets, and community activities throughout the year. The Oakville Centre for the Performing Arts and numerous local festivals enrich the community’s cultural life.
Safety and Cleanliness
Oakville is known for its low crime rates and clean, well-maintained public spaces. This adds to the overall quality of life and peace of mind for residents.
Desired Areas in Oakville
Let's explore some of Oakville’s sought-after neighbourhoods:
Old Oakville
Old Oakville is known for its historic charm, waterfront parks, and vibrant downtown area. It’s perfect for those who love a mix of old-world charm and modern conveniences.
Bronte Village
Bronte Village offers a quaint lakeside living experience with a mix of shops, cafes, and beautiful marina views. It’s ideal for those who enjoy a laid-back, community-oriented lifestyle.
Glen Abbey
Glen Abbey is famous for its golf course and family-friendly atmosphere. With excellent schools and parks, it’s a top choice for families looking to settle in Oakville.
Kerr Village
Kerr Village has a lively, eclectic vibe with a mix of independent shops, restaurants, and community events. It’s great for those who appreciate a more urban feel within the suburban setting.
Making Oakville Affordable
If you’re concerned about affordability, here are some tips to make living in Oakville more manageable.
Explore Different Neighbourhoods
Each neighbourhood in Oakville has its own price range. By exploring various areas, you can find a place that fits your budget without compromising on quality of life.
Consider Roommates
Sharing a rental property with roommates can significantly reduce your housing costs. This is a popular option for young professionals and students.
Use Trusted Rental Platforms
Use reputable rental websites to search for listings. This can save you both time and money. Although, be aware of scams on social sites like Facebook Marketplace.
Use a Real Estate Agent
Using a real estate agent to help you find a rental is a smart move because they are experts in the rental market. At Rental Realtors, we focus on renters, dedicated to helping you through your rental journal to take off your stress and worry. We’d love to help! Best of all, our services are completely free for you!
Conclusion: Is Oakville Too Expensive to Rent?
While Oakville is known for its higher cost of living, renting here might not be as out of reach as it seems. With competitive rental prices, excellent amenities, and a high quality of life, Oakville offers great value for your money. Whether you’re drawn to its top-notch schools, beautiful neighborhoods, or convenient commute options, Oakville is a fantastic place to call home.
If you’re considering a move to Oakville and need personalized advice, feel free to reach out. As a real estate agent with extensive experience in the GTA, I’m here to help you find a rental property that fits your needs and budget.
Sources:
https://www.zumper.com/rent-research/oakville-on
