Living in Peterborough, Ontario

Set on the Otonabee River at the edge of cottage country, Peterborough is the natural gateway to the Kawartha Lakes and a complete small city in its own right. With a university, a historic downtown and lakes and trails all around, it draws families, retirees and remote workers looking for a slower pace within reach of the GTA. Here's what it's like to live in Peterborough.

Key takeaways

• Peterborough is a city in central Ontario, northeast of the GTA, on the Otonabee River.
• It's the gateway to the Kawartha Lakes, with lakes, rivers and trails all around.
• Trent University and Fleming College anchor the local economy and student population.
• Home prices are generally more attainable than the GTA, drawing relocating buyers.
• Browse current listings on the HOMEH Peterborough real estate page.

Why people move to Peterborough

Peterborough offers the amenities of a city — hospitals, a university, shopping and a lively downtown — with the lakes and forests of cottage country at the city limits. Buyers come for a calmer lifestyle and generally more attainable prices than the GTA, while remaining a manageable drive from Toronto. It's a common landing spot for families, retirees and people who can work remotely.

Part of the appeal is that Peterborough is genuinely self-contained. You don't have to commute to Toronto to access employment, health care or post-secondary education — the city has all three. That makes it different from many commuter towns, where daily life still revolves around travelling into the GTA. For buyers who can live and work locally, Peterborough offers a complete community at a lower cost of housing.

Quick snapshot

Peterborough is a single-tier city in central Ontario and the largest community in the region. It sits on the Otonabee River and is known as the gateway to the Kawartha Lakes.

Lifestyle and the outdoors

Life in Peterborough is shaped by water and the outdoors. The Trent-Severn Waterway runs through the area, and the famous Peterborough Lift Lock is one of the world's highest hydraulic boat lifts. The surrounding Kawarthas are a magnet for boating, fishing, paddling and cottaging, and many residents treat the lakes as an extension of their backyard. The blend of an active downtown and immediate access to nature is a large part of what keeps people in the area.

• The Kawartha Lakes — boating, fishing and cottage country minutes from the city.
• Trent-Severn Waterway — including the historic Peterborough Lift Lock.
• Downtown and the arts — a historic core with shops, restaurants and a strong local arts scene.
• Trails and parks — extensive trails along the river and through the city.

Schools, the university and jobs

Peterborough is served by the Kawartha Pine Ridge District School Board and the Peterborough Victoria Northumberland and Clarington Catholic District School Board. Trent University and Fleming College give the city a substantial student population and steady employment, alongside health care, education and the public sector as major employers.

That mix of stable institutional employers and a student population shapes both the housing market and the local culture. For buyers relocating from a pricier market, it can help to understand the full process before making the move. See our guide to the best places to live in the GTA for a regional comparison, and our guide to how much house you can afford in Canada to set your budget.

Getting around and the commute

Peterborough is connected to the GTA primarily by car, via Highway 115 and Highway 401 to the south, putting the eastern GTA within a manageable drive. There is no GO Train service into the city, so unlike commuter towns on the rail lines, daily travel to Toronto means driving.

Within the city, Peterborough Transit provides local bus service, and intercity coach routes link to Toronto and other Ontario centres. The city is more car-oriented than transit-dependent GTA suburbs, so commuting buyers should factor in driving time. For people who work locally or remotely, however, getting around Peterborough itself is quick and uncongested compared with the GTA.

What homes are like in Peterborough

Peterborough offers a wide range of housing, from older character homes near the downtown and university to newer detached subdivisions on the city's edges, plus townhouses and condos. The established neighbourhoods near the river and core appeal to buyers who want character and walkability, while newer subdivisions draw families looking for modern homes. Waterfront and near-lake properties in and around the city add a higher-priced segment for those after a recreational lifestyle.

With prices generally below the GTA, the best way to read the market is to browse live listings and recent sales on the HOMEH Peterborough real estate page, and walk through the steps with our how to buy a house in Ontario guide.

Buy in Peterborough with HOMEH and get cashback

Eligible HOMEH buyers receive the industry's highest Cashback Rebate — money that goes straight back into your pocket on a Peterborough home. Estimate yours with the cashback calculator.