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Peterborough, ON

Area Guide

Riverside living meets creative energy

Peterborough feels like a city shaped by water. The Otonabee River runs right through town, feeding into a chain of lakes and the historic Trent-Severn Waterway. That connection to nature is everywhere—whether you’re cycling along riverside trails, strolling through Jackson Park, or gathering at Millennium Park to catch a summer concert by the marina. Downtown balances calm energy with an eclectic vibe, thanks to a mix of indie cafés, vintage shops, and lively pubs that keep the core buzzing day and night.

The city offers renters a range of apartment communities that suit different tastes. Downtown high-rises and converted lofts appeal if you want to be close to restaurants and nightlife, while townhome-style communities and low-rise buildings can be found in quieter neighbourhoods. Many apartments sit within walking distance of parks or the river, making it easy for you to enjoy the outdoors just steps from your front door.

Life here has a strong artistic pulse, anchored by Trent University’s influence and a calendar full of festivals. The Peterborough Musicfest lights up summer evenings with free outdoor concerts, and the city proudly showcases the world’s highest hydraulic lift lock, a National Historic Site that draws visitors from across Canada. Living in Peterborough means finding that sweet spot between laid-back, lakeside living and a community that knows how to celebrate together.

Rent Trends

As of May 2026, the average apartment rent in Peterborough, ON is $1,578 for a studio, $1,559 for one bedroom, $1,826 for two bedrooms, and $2,070 for three bedrooms. Apartment rent in Peterborough has decreased by -0.1% in the past year.

Property Type
Average Rent
Average Sq Ft
Apartment
$1,559/month
490 Sq Ft
House
$1,398/month
103 Sq Ft
See Rental Market Trends in Peterborough, ON

Getting Around

Moderately Walkable

Walkability

70 / 100

Some Public Transit

Transit

40 / 100

Moderately Drivable

Drivability

70 / 100

Moderately Bikeable

Bikeability

60 / 100

Schools

Points of Interest

Top Apartments in Peterborough

Houses for Rent in Peterborough

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Methodology

† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.