As the average home price in Durham hovers around $835,854, many homeowners who aren’t looking to move but want to make some extra cash to help with the rising cost of living might think about renting out their basements.
A recent study by Canadian real estate platform Wahi revealed that owners of single-family homes (like detached or low-rise houses) in the GTA with basement apartments suitable for tenants could earn between $1,700 and $2,400 extra each month, depending on where they live.
The report includes municipalities in Durham region such as Oshawa, Pickering, Ajax, and Whitby. It suggests that homeowners in Oshawa can bring in a significant amount from rent compared to the median price of their homes.
In Oshawa, the median sale price for homes is $755,000, while the annual rental yield sits at about $21,600.
The study mentions that although Oshawa’s median monthly rent is $1,800 – which is the fourth-lowest in the GTA – it also has the lowest median sale price in the area by more than $150,000. This means that when you combine 12 months of median rent, it represents the largest share of the median sale price (2.9 percent) among any community in the GTA.
“While Toronto condo buyers have been benefiting from significantly and continually lower prices as the market corrects, single-family prices have remained firmer,” Wahi economist Ryan Mc Laughlin said in the study.
“Fortunately for single-family home buyers facing higher barriers to entry, there is an option of purchasing a property with a secondary suite – something we’ve seen elevated interest in during recent years.”
Wahi’s 2025 What Homeseekers Want survey found that one-in-five Ontarians considered having a separate entrance (which is often needed to create a rental unit within a larger home) as an important feature when looking for a new home.
To gather more insights on potential rental income, Wahi looked into median asking rents for one- and two-bedroom lease listings from 2025 for detached and semi-detached homes across the GTA with special attention given to basements. They analyzed data from twenty-nine communities.
In Ajax, homeowners can expect a yearly rental yield of about $21,600 on properties priced around $935,000. In Whitby too, owners could earn around $21,600 from rentals on homes costing approximately $990,000.
For Pickering residents aiming to rent out their basements or suites within their homes can see a yearly rental yield of around $21,000 on properties valued at roughly $1,050,000.
The report indicates that four out of five communities with the highest median rents are located within Toronto itself while Oakville makes up part of this top five list as well.
For more information, click here.
INsauga’s Editorial Standards and Policies
Last 30 Days: 39,126 Votes
All Time: 1,313286 Votes
2343 VOTES
Source link
Source link
