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Last Updated on February 6, 2025 by Fullhome Airbnb Manager
Best Canadian Cities for Airbnb Investment
Are you ready to tap into the booming Airbnb market in Canada?
With more and more travelers seeking the comfort and convenience of a home-away-from-home, Airbnb properties have become a hot commodity.
And guess what? This trend shows no signs of slowing down!
But here’s the catch – not all cities are created equal when it comes to Airbnb investment. Some are simply more profitable than others.
So, how do you know where to invest?
As an investor, identifying the best cities for Airbnb investment can be a game-changer.
That’s where we come in!
In this article, we’re going to take you on a journey across Canada, exploring some of the best cities for Airbnb investment in 2023.
From the bustling streets of Toronto to the serene beauty of St. Catharines, we’ve got you covered.
Ready to discover where your next Airbnb investment should be?
Let’s dive in!
Airbnb investment in Toronto, Ontario
Toronto, the largest city in Canada, is a hotspot for Airbnb investments. The city’s diverse culture, thriving arts scene, and numerous attractions make it a top destination for tourists.
Overview of the Toronto Airbnb Market:
Toronto’s Airbnb market is robust, with a high demand for short-term rentals. The city’s vibrant nightlife, world-class restaurants, and famous landmarks like the CN Tower and Royal Ontario Museum attract visitors from around the world . According to data from AirDNA, Toronto has over 21,000 active rentals with an average daily rate of $130 .
Airbnb hosts in Toronto earn an average of $5,300 per year, which is more than the average income for a full-time worker in the city . Airbnb hosts in Toronto also earn more than hosts in other major Canadian cities, such as Vancouver ($4,300 per year) and Montreal ($3,700 per year) .
The high demand for Airbnb rentals in Toronto has led to a number of challenges, including rising housing costs and displacement of low-income residents. In recent years, the city has taken steps to address these challenges, including introducing a new tax on Airbnb rentals and cracking down on illegal short-term rentals .
Key Attractions Driving Tourism:
Besides the CN Tower and Royal Ontario Museum, other attractions like the Toronto Zoo, Ripley’s Aquarium, and the Distillery District contribute to the city’s tourism.
Potential for Airbnb Investments:
With its high tourist influx and strong demand for short-term rentals, Toronto presents a promising opportunity for Airbnb investments. The city’s high occupancy rate of around 70% and the potential for high rental income make it an attractive market for investors .
Maximize Your Airbnb Revenue in Toronto?
At FullHome, we specialize in Toronto Airbnb property management, helping you optimize your listing, manage bookings, and provide top-notch guest experiences. We also offer a selection of premium short-term rentals for guests seeking a home-away-from-home in Toronto. Contact us today to learn more about our services.
Airbnb Investment in Mississauga, Ontario
Mississauga, located on the shores of Lake Ontario, is another city with a thriving Airbnb market.
Mississauga’s proximity to Toronto and its own set of attractions make it a popular choice for Airbnb guests. The city has a wide range of Airbnb properties, from luxury condos to cozy homes. According to AirDNA, Mississauga has over 2,000 active rentals with an average daily rate of $100.
Airbnb hosts in Mississauga earn an average of $3,000 per year, which is less than the average income for a full-time worker in the city . Airbnb hosts in Mississauga also earn less than hosts in other major Canadian cities, such as Toronto ($5,300 per year) and Vancouver ($4,300 per year).
The high demand for Airbnb rentals in Mississauga has led to a number of challenges, including rising housing costs and displacement of low-income residents. In recent years, the city has taken steps to address these challenges, including introducing a new tax on Airbnb rentals and cracking down on illegal short-term rentals .
Key Attractions Driving Tourism:
Mississauga’s waterfront, Port Credit, and the Square One Shopping Centre are among the city’s top attractions.
Is airbnb profitable in Mississauga?
With its growing popularity among tourists and business travelers alike, Mississauga offers a solid potential for Airbnb investments. The city’s average occupancy rate of around 60% and the potential for high rental income make it an attractive market for investors[^18^].
- City’s Revenue from Airbnb: The City of Mississauga has earned an additional $190,000 due to Airbnb, a figure that’s expected to rise.
- Municipal Accommodation Tax (MAT): Mississauga implemented a 4% MAT, which was extended to short-term rentals like Airbnb. This tax has been beneficial, with Airbnb collecting $190,000 for the city in the first six months since its introduction.
- Airbnb’s Agreement with Mississauga: Airbnb has an agreement with Mississauga to collect the tax on the city’s behalf, making the process more streamlined and efficient.
- Airbnb Listings in Mississauga: There are approximately 1,600 active Airbnb listings in Mississauga, indicating a robust market for hosts and travelers alike.
- High Demand: Mississauga sees over 21 million visitors annually, making it a popular destination for both tourists and business travelers.
- Strong Airbnb Rental Rates: The average nightly rate for Airbnb properties in Mississauga ranges from $120-$150, with an average occupancy rate of 67%.
- Growing Tourism: Mississauga’s tourism industry has seen a 30% increase in hotel occupancy rates over the past decade.
- Proximity to Pearson International Airport: Mississauga houses Canada’s busiest airport, which serves over 50 million passengers annually.
- Investment Costs: Compared to other cities in the Greater Toronto Area, Mississauga offers relatively lower investment costs in real estate.
- Strong Airbnb Rental Laws: Ontario boasts some of Canada’s strongest tenant protection laws, providing peace of mind for property owners.
- Diverse Community: Mississauga is home to a diverse population of over 800,000 people, enriching the city’s cultural experiences and making it attractive for travelers from around the world.
Investing in Airbnb in Mississauga?
Let FullHome take the stress out of Mississauga Airbnb property management. Our expert team can handle everything from listing optimization to guest communication, ensuring your property stands out in the competitive Mississauga market. Looking for a short-term rentals in Mississauga? Check out our high-quality listings today.
Airbnb Investment in St. Catharines, Ontario
Known as the “Garden City,” St. Catharines is famous for its lush parks, gardens, and trails.
St. Catharines Airbnb Market:
St. Catharines offers a variety of Airbnb properties, including waterfront homes and downtown apartments. The city’s natural beauty and outdoor activities attract tourists year-round. According to AirDNA, St. Catharines has over 500 active rentals with an average daily rate of $90 .
Airbnb hosts in St. Catharines earn an average of $2,500 per year, which is less than the average income for a full-time worker in the city . Airbnb hosts in St. Catharines also earn less than hosts in other major Canadian cities, such as Toronto ($5,300 per year) and Vancouver ($4,300 per year) .
The high demand for Airbnb rentals in St. Catharines has led to a number of challenges, including rising housing costs and displacement of low-income residents. In recent years, the city has taken steps to address these challenges, including introducing a new tax on Airbnb rentals and cracking down on illegal short-term rentals.
Key Attractions Driving Tourism:
The city’s attractions include the Royal Botanical Gardens, the Niagara Escarpment, and several wineries.
Is Airbnb Profitable in St. Catharines
With its unique blend of natural attractions and city amenities, St. Catharines is an appealing market for Airbnb investors. The city’s average occupancy rate of around 60% and the potential for high rental income make it an attractive market for investors .
Maximize your Airbnb investment in St. Catharines with FullHome.
Our professional property management services can help you optimize your listing, manage bookings, and enhance guest experiences. Plus, if you’re a traveler looking for a comfortable airbnb management and short-term rental in St. Catharines, explore our curated selection of properties.
Airbnb investment in Niagara, Ontario
Niagara is best known for the world-famous Niagara Falls, which attracts millions of tourists each year .
Niagara Airbnb Market:
Niagara’s Airbnb market is strong, driven by the city’s status as a top tourist destination. Properties with views of the falls are particularly popular. According to AirDNA, Niagara has over 3,000 active rentals with an average daily rate of $150 .
Airbnb hosts in Niagara earn an average of $3,500 per year, which is more than the average income for a full-time worker in the city . Airbnb hosts in Niagara also earn more than hosts in other major Canadian cities, such as Toronto ($5,300 per year) and Vancouver ($4,300 per year) .
The high demand for Airbnb rentals in Niagara has led to a number of challenges, including rising housing costs and displacement of low-income residents. In recent years, the city has taken steps to address these challenges, including introducing a new tax on Airbnb rentals and cracking down on illegal short-term rentals .
Key Attractions Driving Tourism:
Besides Niagara Falls, other attractions include the Butterfly Conservatory, Clifton Hill, and the Niagara Parks Botanical Gardens.
Is Airbnb Profitable in Niagara?
Given its status as a world-renowned tourist destination, Niagara offers significant potential for Airbnb investments. The city’s high occupancy rate of around 65% and the potential for high rental income make it an attractive market for investors .
Make the most of your Airbnb investment in Niagara with FullHome.
Our comprehensive Niagara falls airbnb property management and Niagara-on-the-lake airbnb services can help you optimize your listing, manage bookings, and provide exceptional guest experiences. If you’re a traveler seeking a short-term rental in Niagara, browse our premium listings today.
Airbnb investment in Ottawa, Ontario
Ottawa, with its picturesque downtown and beautiful waterfront, is a popular destination for tourists .
Overview of the Ottawa Airbnb Market:
Ottawa’s Airbnb market includes a variety of properties, from downtown apartments to waterfront homes. The city’s charm and attractions make it a popular choice for Airbnb guests. According to AirDNA, Ottawa has over 300 active rentals with an average daily rate of $100 .
Airbnb hosts in Ottawa earn an average of $2,500 per year, which is less than the average income for a full-time worker in the city . Airbnb hosts in Oakville also earn less than hosts in other major Canadian cities, such as Toronto ($5,300 per year) and Vancouver ($4,300 per year).
The high demand for Airbnb rentals in Ottawa has led to a number of challenges, including rising housing costs and displacement of low-income residents. In recent years, the city has taken steps to address these challenges, including introducing a new tax on Airbnb rentals and cracking down on illegal short-term rentals.
Key Ottawa Attractions Driving Tourism
- Parliament Hill:
- Rideau Canal:
- ByWard Market
- Canadian Museum of History
- National Gallery of Canada:
- Canadian War Museum:
- Nature and Parks
- National Arts Centre
Is Airbnb Profitable in Ottawa?
With its mix of city amenities and natural beauty, Ottawa presents a promising opportunity for Airbnb investors. The city’s average occupancy rate of around 60% and the potential for high rental income make it an attractive market for investors.
Looking to optimize your Airbnb investment in Ottawa? Full Home Hosting can help. Our expert property management services can help you stand out in the competitive market. Plus, if you’re a traveler looking for a short-term rental in Ottawa, check out our high-quality listings.
Maximize your Airbnb investment with FullHome. Our professional Ottawa airbnb property management services can help you optimize your listing, manage bookings, and enhance guest experiences. Plus, if you’re a traveler looking for a comfortable short-term rental , explore our curated selection of properties.
Airbnb investment in Blue Mountains, Ontario
Blue Mountains, located just north of Toronto, is known for its mix of city amenities and natural attractions.
Overview of the Blue Mountains Airbnb Market:
Blue Mountains’s Airbnb market is growing, with a range of properties available for short-term rentals. The city’s attractions and proximity to Toronto make it a popular choice for Airbnb guests. According to AirDNA, Blue Mountains has over 700 active rentals with an average daily rate of $200.
Potential for Airbnb Investments: With its growing popularity among tourists and its range of attractions, Blue Mountains offers a solid potential for Airbnb investments. The city’s average occupancy rate of around 60% and the potential for high rental income make it an attractive market for investors.
Maximize your Airbnb investment with FullHome. Our professional Blue Mountain airbnb property management services can help you optimize your listing, manage bookings, and enhance guest experiences. Plus, if you’re a traveler looking for a comfortable short-term rental in Collingwood, talk to our Collingwood Airbnb Manager here.
When it comes to Airbnb investment in Canada, these cities offer promising opportunities. By understanding the local market and optimizing your property to meet the needs of Airbnb guests, you can maximize your return on investment in these top Canadian cities for Airbnb investment in 2024.