675 Richmond Street
675 Richmond St,
London, ON N6A 5M1
1-3 Beds | $1,675 - $2,844
Rental Market Trends in London, ON
Updated July 2026
The average rent in London, ON is $1,589/month.
$1,589/month
Average Rent
685 Sq Ft
Average Size
-3.6%
Change / Year
2,628
Available Apartments
London rent varies by unit size and layout:
- Studio apartments in London average $1,249 per month.
- One-bedroom apartments in London average $1,589 per month.
- Two-bedroom apartments in London average $1,938 per month.
- Three-bedroom apartments in London average $2,380 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in London, ON?
In the past year, rent has decreased by 3.6%, which averages out to $56 less per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in London, ON
July 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
20%
$1,001 - $1,500/month
56%
$1,501 - $2,000/month
23%
Above $2,000/month
What salary do I need to live comfortably in London, ON?
Because the average rent in London is $1,589, you’ll want to make about $5,296 per month or $63,552 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does London, ON compare to other nearby cities and neighbourhoods?
Use the tool below to compare London, ON to other nearby cities and neighbourhoods. The Apartments.com neighbourhood guides provide you with insight into the area’s transportation, things to do, and more.
View the London Area GuideApartment Communities in London We Think You'll Love
Frequently Asked Questions
What is the average rent in London?
The average rent in London is $1,589 per month, which is 9.9% lower than the national average of $1,763.
What is the average rent for a house in London?
The average rent for a house in London, ON is $2,428 per month.
What is the average rent for a townhome in London?
The average rent for a townhome in London, ON is $2,094 per month.
Are rents going up or down in London?
Rents in London, ON are decreasing, with prices down 3.6% year-over-year and $56 less per month.
What rent range is most common in London?
In London, ON, 56% of apartments fall between $1,501 - $2,000/month, though prices may vary depending on location and other factors.
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.
* Percentages may not total 100 due to rounding.