What Does It Really Cost to Live in Ottawa?

Published on 30 August 2024 in Blog Ottawa Tips by Jenn Chamberlain

Last updated on November 7th, 2024 at 10:09 am

Ottawa, Canada’s capital city, offers a diverse range of housing options that cater to various lifestyles and budgets. Whether you’re looking to purchase a home or rent an apartment, understanding the costs associated with living in Ottawa is crucial for making informed financial decisions. In this blog post, we’ll break down the average costs of buying and renting properties, along with additional expenses like transportation and utilities, to give you a comprehensive picture of what it takes to live comfortably in Ottawa.

Housing Costs in Ottawa

Ottawa has a range of different housing options, from buying a single, detached family home to renting an apartment anywhere in the city. We’ve broken down the costs of buying, renting, and additional expenses to help you get a picture of the housing costs in Ottawa. The average costs to own a property in Ottawa are:

Single detached house: $799,000
Townhouse: $565,000
Apartment unit: $405,000

Additional costs in for housing in Ottawa include:

Property taxes are approximately 1.2%;
Home insurance costs an average of $104 a month.

Rental Costs in Ottawa

The average rental costs for different types of housing in Ottawa are:

Apartments: $2,120
Condos: $2,200
Houses: $2,895
Rooms: $925

Apartments can go for as low as $1,663 for a studio or as high as $3,124 for a four-bedroom. Across Ottawa neighbourhoods, the average prices for one-bedroom apartment rentals are:

Stittsville: $1,265
Barrhaven: $1,275
Fallingbrook: $1,300
Avalon: $1,300
Queenswood Heights: $1,310
Katimavik-Hazeldean: $1,350
Riverside South: $1,390
Chateau Neuf: $1,400
Riverview: $1,410
Orleans Village: $1,420

Rental prices are fairly stable in Ottawa, with costs differing slightly year-over-year.

Transportation Expenses in Ottawa

Ottawa has the OC Transpo system, which consists of buses and Light Rail Transit (LRT) that operate on Presto cards. While the transit system is fairly robust, 77% of Ottawa commuters use their car. When taking OC Transpo, using a Presto card is free for riders under 12, and the costs are as follows for those 13+:

$3.80 per ride for adults and youths;
$2.90 for seniors (aged 65 and up);
$99.25 for a monthly youth (13-19) pass;
$128.75 for an adult pass;
$49 for a senior pass.

When riding without a Presto card, buses and LRT cost five cents more. You can also use your Presto card in 11 different transit regions, specifically in the Greater Toronto Region, saving you money when you visit if you already have a pass for Ottawa. When travelling by car, the average new car costs $66,000 and the average used car costs just under $40,000. Other costs for driving in Ottawa include:

An average of $2.50 an hour for parking;
As of June 2024, the average price of gas per litre was $1.62;
The average cost of car insurance is $168 per month.

Utility Costs in Ottawa

Ottawa can be an expensive city to live in, with basic utilities such as water, electricity, and heating coming to $255.58 per month. On top of that, 60 Mbps internet costs around $86.58 per month, bringing you to a total utility cost of $342.16 for a 915 square foot apartment.

A Balanced Perspective

While housing and transportation are significant factors in the overall cost of living in Ottawa, it’s important to consider other expenses like groceries, entertainment, and healthcare that also influence your budget. Your lifestyle choices and budgeting strategies can greatly impact how affordable life in Ottawa will be. Whether you’re renting an apartment, buying a home, or commuting around the city, careful financial planning is essential to make the most of your experience. At Results Realty, we want to help you understand these costs and prepare accordingly. Contact our team today if you’re ready to start looking for a new home in Ottawa.