The average rent in Oakville is $2,133 a month for an unfurnished one-bedroom, based on current asking rents in liv.rent’s October 2026 Ontario rent report, the highest among the GTA areas in its city breakdown. CMHC’s October 2025 survey of rents in occupied units puts the average in its Oakville zone at $1,915 for a one-bedroom and $2,309 for a two-bedroom. This post compares nearby areas first, then sets those rents against the cost of owning, and the answer to renting vs buying is in the last section. Rents and prices are as of the date this post was published, and they change, so confirm the current rent with the landlord before you decide.
Where to rent near Oakville: average rent by area
Among the five CMHC zones in the table below, Oakville has the highest two-bedroom average rent at $2,309 in CMHC’s October 2025 Rental Market Survey, and Mississauga (Northwest) has the highest one-bedroom average at $1,989, against Oakville’s $1,915. Milton/Halton Hills is lowest of the areas in our table on both counts, at $1,516 for a one-bedroom and $1,667 for a two-bedroom. Mississauga (South) and Burlington fall between Milton/Halton Hills and Oakville on both counts.
This is zone-level data, not neighbourhood data. CMHC publishes Oakville as a single zone, so there is no official split inside Oakville, and the other rows are neighbouring CMHC zones. Burlington’s row comes from CMHC’s survey table for Hamilton, and the other four rows come from its table for Toronto.
The table gives CMHC’s October 2025 Rental Market Survey averages for occupied purpose-built rental units (the portal’s “Row / Apartment” view), from CMHC’s Toronto survey table and, for Burlington, its Hamilton survey table.
| Area | One-bedroom | Two-bedroom |
| Oakville | $1,915 | $2,309 |
| Burlington | $1,744 | $2,050 |
| Milton/Halton Hills | $1,516 | $1,667 |
| Mississauga (South) | $1,684 | $1,929 |
| Mississauga (Northwest) | $1,989 | $2,280 |
CMHC reports what sitting tenants in purpose-built units pay on average, many on older leases, so its averages can sit below current asking rents. liv.rent’s October 2026 Ontario rent report counts only current asking rents (excluding listings over $5,000 and rooms) and puts the average unfurnished one-bedroom at $2,133 in Oakville, with $2,106 listed for Burlington. The two sets of figures differ because they measure different things. To see what is available now, browse current Oakville rental listings or read the October 2026 Ontario rent report.
The rest of this post puts these rents beside the cost of owning an Oakville apartment, and the short answer is in the last section.
How we compared owning with renting in Oakville in October 2026
We compared the monthly cost of owning an Oakville apartment, bought at the Toronto Regional Real Estate Board’s (TRREB) September 2026 reference price, with three Oakville rents, then followed each side’s net worth for 25 years. Whoever spends less in a given month invests the difference, the renter invests the down payment and closing costs on day one, and break-even is the first year-end when the owner’s net worth, after selling costs, is at least the renter’s. One shared calculator produces every number, and the table below lists what stays frozen across the series.
| Assumption | What we used |
| Price data month | September 2026 |
| Rent data | CMHC Rental Market Report, October 2025 survey: average rent for occupied purpose-built rental units in CMHC’s Oakville zone (the portal’s “Row / Apartment” view). liv.rent’s October 2026 asking rent is shown beside it where its report lists the city |
| Down payment | 20%, so no mortgage insurance premium |
| Mortgage | 4.50% five-year fixed, held for the whole period; 25-year amortization |
| Closing costs | Ontario land transfer tax on the standard schedule with no exemptions, plus $3,000 for legal and inspection |
| Condo fee and insurance | $500 a month, rising 2.2% a year |
| Property tax | The town’s 2026 all-in residential rate applied to the apartment price, rising 2.2% a year |
| Rent growth | 2.2% a year |
| Investment return | 4.0% a year on any money not spent on housing |
| Selling costs | 4% of the sale price |
| Home price scenarios | Flat, and 2% a year |
| Not counted | Tenant insurance, maintenance beyond the condo fee, tax on investment returns |
These are modelling assumptions, not forecasts. The 4.50% mortgage rate is a round figure chosen for the series, not a quote, and we did not rerun the model at other rates.
One assumption differs from liv.rent’s published Metro Vancouver buy vs rent post: the rent source. Here the main basis is CMHC’s October 2025 survey, which reports what sitting tenants in purpose-built units pay on average, many on older leases, so it sits below current asking rents. A renter signing a new lease today would likely pay more, so the month-one gap against CMHC rents is, if anything, wider than a new-lease renter would see. Since liv.rent’s October 2026 Ontario rent report lists an Oakville asking rent, we also run it as a third pairing. The rent basis differs, so the month-one gaps here are not like for like with the Vancouver post’s.
The 2.2% rent growth figure is an assumption. The Government of Ontario’s residential rent increases page (updated June 23, 2026) lists a guideline of 2.1% for 2026 and 1.9% for 2027, so 2.2% is a round series figure slightly above the 2026 guideline. The page also says new buildings, additions to existing buildings and most new basement apartments that are occupied for the first time for residential purposes after November 15, 2018 are exempt from rent control. For more, see liv.rent’s guide to Ontario rent increases.
What price, rent and property tax did we use for Oakville?
We used TRREB’s September 2026 apartment price of $552,100, CMHC’s October 2025 Oakville-zone rents of $1,915 (one-bedroom) and $2,309 (two-bedroom), liv.rent’s October 2026 asking rent of $2,133 (one-bedroom), and Oakville’s 2026 residential tax rate of $8.50960 per $1,000 of assessed value.
TRREB put the typical apartment price in Oakville at $552,100 for September 2026, down 6.20% from a year earlier. This is a reference price built from its MLS Home Price Index, not an average of sales. TRREB’s Halton Region apartment figure was $522,200 (down 5.09%) and its all-area figure $527,200 (down 6.67%). The figures come from TRREB’s September 2026 MLS Home Price Index tables. Sales are a small sample: TRREB’s Market Watch for September 2026 (October 6, 2026) recorded 29 condo apartment sales in Oakville, with a median price of $537,500 and an average of $699,379, so we used the reference price instead.
CMHC’s October 2025 Rental Market Survey puts the average rent in its Oakville zone at $1,915 for a one-bedroom (reliability code a, excellent) and $2,309 for a two-bedroom (code b, very good). These are “Row / Apartment” averages for occupied units, from CMHC’s Housing Market Information Portal.
liv.rent’s October 2026 Ontario rent report gives Oakville’s average unfurnished one-bedroom asking rent as $2,133, the highest among the GTA areas in its city breakdown. That is $218 above CMHC’s October 2025 figure of $1,915, which fits what each measures: the report counts only current asking rents (excluding listings over $5,000 and rooms), while CMHC covers rents sitting tenants pay. The liv.rent pairing is one-bedroom only, the figure the report states for Oakville. The price is not tied to a bedroom count, so we show the three rents as a range rather than pick one.
For property tax we used Oakville’s 2026 final residential rate of 0.850960%, or $8.50960 per $1,000 of assessed value, from the Town of Oakville’s tax rates page. The Town’s 2026 final tax rate summary splits it into the Town of Oakville ($3.64585 per $1,000), Halton Region ($3.33375) and education ($1.53000), and Halton Region’s property tax page shows the regional part for 2026 as a combined $333.38 per $100,000. At $552,100 it comes to about $4,698 a year in 2026, which we grew by 2.2% a year.
One caveat matters in Ontario. Property tax is the combined rates multiplied by the assessed value from the Municipal Property Assessment Corporation (MPAC), and MPAC’s page on the assessment cycle says “Property assessments for the 2026 property tax year will continue to be based on fully phased-in January 1, 2016 current values.” We used the apartment price as a stand-in for assessed value, but an apartment bought in 2026 is likely to carry an assessment below its price, so our figure probably overstates the tax. A bound with property tax at $0 follows in the break-even section.
Monthly cost in Oakville: owning at $3,336 against rent from $1,915 to $2,309
On September 2026 prices and rents from October 2025 and October 2026, owning costs more than renting in month one in all three pairings. The gap runs from $1,027 a month (against CMHC’s two-bedroom rent) to $1,421 (CMHC’s one-bedroom rent), and is $1,203 against liv.rent’s October 2026 asking rent. Owner cost means the mortgage payment, property tax and the frozen $500 condo fee and insurance figure.
| Pairing | Mortgage payment | Owner cost, month one | Rent (source and date) | Owner cost above rent |
| Oakville ($552,100) against CMHC one-bedroom rent | $2,445 | $3,336 | $1,915 (CMHC, October 2025) | $1,421 |
| Oakville ($552,100) against CMHC two-bedroom rent | $2,445 | $3,336 | $2,309 (CMHC, October 2025) | $1,027 |
| Oakville ($552,100) against liv.rent asking one-bedroom rent | $2,445 | $3,336 | $2,133 (liv.rent, October 2026) | $1,203 |
Because there is one price, the owner’s month-one cost is $3,336 in every row: a $2,445 mortgage payment on a $441,680 loan, property tax of about $4,700 a year in 2026, and the $500 monthly condo fee and insurance. Using liv.rent’s October 2026 asking rent narrows the one-bedroom gap by $218, from $1,421 to $1,203. Buying also needs cash up front.
| Up-front cash | Oakville |
| Apartment price (TRREB, September 2026) | $552,100 |
| 20% down payment | $110,420 |
| Ontario land transfer tax | $7,517 |
| Closing costs including $3,000 legal and inspection | $10,517 |
At the September 2026 price, the down payment and closing costs come to about $120,937 on day one, which the renter in this model invests instead. The land transfer tax follows the standard schedule on the Government of Ontario’s page on calculating land transfer tax (updated April 22, 2026): 0.5% up to $55,000, 1.0% to $250,000, 1.5% to $400,000, and 2.0% above $400,000. At $552,100 that is $275 + $1,950 + $2,250 + $3,042 = $7,517, and we applied no rebates.
When does buying catch up with renting in Oakville?
Break-even, the first year-end when the owner’s net worth after selling costs is at least the renter’s, runs from the eighth year to not at all within 25 years, depending on the price path and the rent. With flat prices, the calculator found no break-even inside 25 years in any of the three pairings.
| Pairing | Break-even, flat prices | Break-even, prices up 2% a year |
| Oakville against CMHC one-bedroom rent | Not within 25 years | Not within 25 years |
| Oakville against CMHC two-bedroom rent | Not within 25 years | Eighth year |
| Oakville against liv.rent asking one-bedroom rent | Not within 25 years | 13th year |
Net worth shows how the two paths diverge along the way. Each cell below reads owner first, renter second.
| Pairing and price path | After five years | After 10 years | After 25 years |
| CMHC one-bedroom rent, flat | $142,237 / $238,259 | $209,570 / $372,877 | $530,016 / $911,251 |
| CMHC one-bedroom rent, up 2% a year | $197,401 / $238,259 | $325,641 / $372,877 | $869,547 / $911,251 |
| CMHC two-bedroom rent, flat | $142,237 / $211,058 | $209,570 / $309,455 | $530,016 / $659,077 |
| CMHC two-bedroom rent, up 2% a year | $197,401 / $211,058 | $325,641 / $309,455 | $869,547 / $659,077 |
| liv.rent asking one-bedroom rent, flat | $142,237 / $223,209 | $209,570 / $337,786 | $530,016 / $771,723 |
| liv.rent asking one-bedroom rent, up 2% a year | $197,401 / $223,209 | $325,641 / $337,786 | $869,547 / $771,723 |
The owner’s figures repeat across pairings because owner cost stays above rent in all of them, so the owner never has a surplus to invest. The renter’s figures differ because the renter invests the monthly saving, and a lower rent means a bigger saving, which is why CMHC’s one-bedroom rent keeps the renter ahead longest. The 2% price column is a what-if, not a forecast: TRREB reported Oakville’s apartment reference price down 6.20% year over year in September 2026, and the flat column describes prices staying at that level.
What if property tax is set to $0?
Because the model applies the tax rate to the price rather than to MPAC’s assessed value, we also ran every pairing with property tax set to $0 on the September 2026 price. This is a bound, not a realistic figure: real tax sits between the full-price figure and zero, and we did not invent an in-between number. Even at $0, owning costs $636 to $1,030 more than renting in month one, but break-even arrives sooner.
| Pairing | Owner cost above rent with tax at $0 | Break-even, flat prices | Break-even, prices up 2% a year |
| Oakville against CMHC one-bedroom rent | $1,030 | Not within 25 years | Eighth year |
| Oakville against CMHC two-bedroom rent | $636 | 17th year | Fourth year |
| Oakville against liv.rent asking one-bedroom rent | $812 | 25th year | Fifth year |
Against CMHC’s two-bedroom rent, flat-price break-even moves from never to the 17th year, and with prices up 2% a year from the eighth year to the fourth. The tax treatment shifts break-even by years, so a buyer should check a specific unit’s assessed value rather than rely on our stand-in.
Who might buy in Oakville, and what would change the answer?
On these September 2026 prices and October 2025 and October 2026 rents, renting costs less in month one in every pairing, and the answer serves buyers, renters and landlords differently. A buyer with a long horizon, a two-bedroom unit, and a price path above flat comes closest: against CMHC’s two-bedroom rent, with prices up 2% a year, break-even arrives in the eighth year, though the buyer starts with a $1,027 monthly gap. A renter in this model spends $1,027 to $1,421 less than the owner in month one, and a renter paying Oakville’s higher asking rent sees a smaller gap, $1,203, against liv.rent’s October 2026 rent. For landlords and owners, the $218 difference between liv.rent’s $2,133 asking rent and CMHC’s $1,915 average is a reminder that the rent a sitting tenant pays and the rent on a new tenancy differ.
Several things would move the result. A different price path shifts break-even by years, a different mortgage rate changes the payment, and a specific building’s condo fee will differ from our frozen $500 a month. Assessed value is a large unknown: MPAC’s 2026 assessments rest on January 1, 2016 values, so a unit’s actual tax may be below our full-price figure, as the $0 bound shows. Rents can move too, but the Government of Ontario’s 2026 guideline of 2.1% does not apply to new buildings, additions to existing buildings and most new basement apartments first occupied for residential purposes after November 15, 2018, which are exempt from rent control.
Ontario’s land transfer tax refund for eligible first-time buyers is not applied in the model. The Government of Ontario’s page on first-time homebuyer refunds (updated February 10, 2026) sets the maximum refund at $4,000 and says qualifying first-time purchasers pay no land transfer tax on the first $368,000 of an eligible home. At the September 2026 price of $552,100, the refund would cut the $7,517 tax to $3,517 and the day-one cash to about $116,937. A buyer must be at least 18, a Canadian citizen or permanent resident, move in as a principal residence within nine months of the transfer date, and never have owned an eligible home anywhere in the world; if a spouse has owned an eligible home while married to the buyer, neither spouse gets the refund.
CMHC’s October 2025 vacancy rate for all unit types in its Oakville zone was 3.3%, but CMHC rates that figure’s reliability as d, poor (use with caution), so we read it as a rough signal only. CMHC’s 2026 Mid-Year Rental Market Update, published June 9, 2026, says asking rents are continuing to decline in Toronto, Vancouver and Calgary and puts Toronto’s 2025 total apartment vacancy rate at 3.0%, inside its estimated balanced range of 2.5% to 4.0%; those are Toronto-wide figures, not Oakville’s. Selling costs of 4% of the sale price also make a short stay expensive for an owner. This is general information, not financial advice, and a mortgage broker or financial planner can run your own numbers.
What to check next if you are weighing an Oakville apartment
Start with the rent for the size of unit you would actually live in, then compare it with a real condo fee, an estimated assessed value and a mortgage quote for a specific apartment. Read liv.rent’s October 2026 Ontario rent report for current asking rents, browse the rent reports for earlier months, or look at current Oakville rental listings. For the wider decision, liv.rent’s guide to renting vs buying covers the trade-offs.
Renting vs buying in Oakville: the short answer
Renting costs less than owning in month one in every pairing we ran. In our model, owning a typical Oakville apartment at TRREB’s September 2026 price costs $3,336 a month, which is $1,421 above CMHC’s October 2025 one-bedroom rent of $1,915, $1,027 above its two-bedroom rent of $2,309, and $1,203 above liv.rent’s October 2026 asking rent of $2,133. With flat prices, owning does not catch up within 25 years in any pairing. If prices rise 2% a year, break-even is the eighth year against CMHC’s two-bedroom rent and the 13th year against liv.rent’s asking one-bedroom rent, and not within 25 years against CMHC’s one-bedroom rent. Owning comes closest for a buyer with a long horizon, a two-bedroom unit, and a price path above flat. It is an illustration, not a forecast or advice, run under the same assumptions as the rest of liv.rent’s buy vs rent series. For the national picture, see Canada’s 2026 price-to-rent ranking.
What is the average rent in Oakville?
CMHC’s October 2025 survey puts the average Oakville-zone rent at $1,915 for a one-bedroom and $2,309 for a two-bedroom. liv.rent‘s October 2026 Ontario rent report puts the average unfurnished one-bedroom asking rent at $2,133, the highest among the GTA areas in its city breakdown. CMHC measures rents sitting tenants pay; liv.rent measures current asking rents.
Where is rent lowest near Oakville?
Of the five CMHC zones in our table, Milton/Halton Hills had the lowest averages in the October 2025 survey, $1,516 for a one-bedroom and $1,667 for a two-bedroom, against $1,915 and $2,309 in Oakville. CMHC measures rents in occupied purpose-built units, so a lease signed today may cost more.
Is it cheaper to rent or buy in Oakville in 2026?
In liv.rent‘s model, renting costs less in month one. Owning an Oakville apartment at the Toronto Regional Real Estate Board’s September 2026 price of $552,100 costs about $3,336 a month, against $1,915 (CMHC one-bedroom, October 2025), $2,309 (CMHC two-bedroom) and $2,133 (liv.rent asking one-bedroom, October 2026). Over time, the answer depends on price growth.
What is the average price of an apartment in Oakville?
The Toronto Regional Real Estate Board put Oakville’s typical apartment price at $552,100 for September 2026, down 6.20% from a year earlier. That is a reference price built from its MLS Home Price Index, not an average of sales. The board recorded 29 condo apartment sales in Oakville that month, a small sample.
How long does it take for buying to beat renting in Oakville?
With flat prices, owning does not catch up with renting within 25 years in any of our three pairings. If prices rise 2% a year, break-even is the eighth year against CMHC’s two-bedroom rent and the 13th year against liv.rent‘s October 2026 asking one-bedroom rent, and not within 25 years against CMHC’s one-bedroom rent.
How much is land transfer tax on an Oakville condo, and do first-time buyers get a refund?
On Oakville’s September 2026 apartment price of $552,100, Ontario’s standard land transfer tax is $7,517, using the schedule on the Government of Ontario’s page updated April 22, 2026. Eligible first-time buyers can claim a refund of up to $4,000, which would cut that to $3,517. Our model does not apply the refund. This is general information, not financial advice.
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