Rental Market Trends in Prince Edward Island
$886/month
Average Rent
+1.3%
Increase in the Last Year
+$11
Average Price Increase
Ranked 1st
Least Expensive Rent by Province
20
Available Rentals
Charlottetown, PE
City with the Lowest Rent
What is the average rent in Prince Edward Island?
As of April 2026, the average rent in Prince Edward Island is $886/month. When you rent an apartment in Prince Edward Island, you can expect some variability depending on the region. For instance, metropolitan areas may have higher rents than smaller towns and rural areas. In general, you can expect to pay about $746 per month for a studio, $886 for a one-bedroom apartment, and around $1,251 for a two-bedroom apartment in Prince Edward Island. If you opt for a three-bedroom rental, you could pay $1,463 or more.
Rent by City
What are the most affordable cities in Prince Edward Island?
Based on current rent prices, the cheapest cities in Prince Edward Island to live are Charlottetown and Stratford.
What are the most expensive cities in Prince Edward Island?
Based on current rent prices, the most expensive cities in Prince Edward Island to live are Stratford, Summerside and Cornwall.
Nearby Province Markets
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.