Real Estate for Rent in Balfour, Hamilton, ON
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Neighbourhood in Hamilton
Balfour
Balfour is a quiet neighbourhood in Hamilton, Ontario. It offers a mix of residential homes and local amenities.
At a glance
Listed 2 days ago
Unit Bsmt, 28 Warren Avenue
Hamilton (Balfour), ON L9A 3C6
MultiplexFor Rent
Listed 10 days ago
Unit Main, 57 McElroy Road
Hamilton (Balfour), ON L9A 1Y5
DetachedFor Rent
Listed 12 days ago
Unit #2, 176 Fennell Avenue E
Hamilton (Balfour), ON L9A 1S3
DetachedFor Rent
Day to dayLivability
4.7
Schools near listings
out of 10 · averaged over 157 past and present listings
Fraser Institute ratings within 2 km of each listing, closer schools weighted more
Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.
What it costsAffordability
Median asking price
$684,450
In Balfour
$684,450
In Hamilton
$724,900
In Ontario
$718,000
Median monthly rent
$1,950/mo
In Balfour
$1,950
In Hamilton
$2,150
In Ontario
$2,500
≈ 29.3 years
Of rent to match the purchase price
On the marketMarket snapshot
For sale
10
Median $684,450
Houses 10
For rent
5
Median $1,950
Houses 5
Recently sold
Sign in to see sold data
Recently leased
Sign in to see leased data
Market data as of 2026-10-14. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.
The honest readPros & cons
What people love
- Good schools for families
- Affordable compared to Hamilton median prices
- Community feel with many families
- Low crime rates in the area
Keep in mind
- Limited public transit options
- Fewer dining and shopping choices
- Higher rent strain at 36%
The feel of the placeLifestyle
Residents enjoy a peaceful lifestyle with nearby parks. It is family-friendly with a strong community vibe.
Within the boundaryWhat's nearby
The boundary
0.9 km²
Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.
1
Parks
3
Playgrounds
3
Grocery stores
2
Restaurants
1
Cafés
2
Pharmacies
Counted across all 0.9 km² of Balfour. From OpenStreetMap, as of 2026-10-12.
The schoolsWhich schools, and how they rate
6.5/10
Average rating of the 1 rated school in this area
1
Elementary
Norwood Park Elementary School
Public · Grades JK–8 · Hamilton-Wentworth DSB
6.5/106.9 over 5 yrs1,231st of 3,045 Ontario elementary schools
500 students · EQAO 2024-2025
Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Balfour, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.
The peopleWho lives here
2,357
Population (2021)
0.9 km²
Area
2,759
People per km²
41.6
Median age
$84,842
Median income
79%
Own their home
2.5
People per household
975
Households
Every age
- Children (under 15)11.9%
- Working age (15–64)69.1%
- Seniors (65+)18.9%
What is built here
- Detached houses92.7%
- Duplexes3.6%
- Low-rise apartments4.7%
Own or rent
79%Owners
22%Renters
Across 975 households
When it was built
Mostly 1960 or earlier
- 1960 or earlier65%
- 1961–198025%
- 1981–19902%
- 1991–20003%
- 2001–20050%
- 2006–20100%
- 2011–20150%
- 2016–20210%
Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.
- 29.5%
- Born outside Canada
- 18.1%
- Hold a degree or higher
- 56.2%
- Employment rate
- 8.7%
- Commute by transit
- 85.2%
- Commute by car
- 1.6
- Children per family
- $75,580
- Median income after tax
- $97,102
- Average household income
- 8.1%
- Living on a low income
- $1,387/mo
- Renters pay, per month
- $1,262/mo
- Owners pay, per month
- $635,176
- Median home value at census
- 36%
- Renters spending 30%+ of income on housing
- 15.5%
- Owners spending 30%+ of income on housing
Statistics Canada, Census of Population 2021. Added up from 4 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.
Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap
What homes in Balfour actually rent for
19 homes were leased in Balfour over the 12 months to September 2026. Half leased above $2,207 and half below, 0.5% lower than the 12 months before. A typical home found its tenant in 39 days — 10 days quicker than a year ago.
- Median rent
- $2,207
- -0.5% year over year
- Days to lease
- 39
- 10 days quicker
- Leases closed
- 19
- last 12 months
- Rent per square foot
- $2.39/mo
- from 17 sized leases
Three years of rents
The line is the median. The band is the middle half of every lease — how wide it runs tells you how much one home here differs from the next.
What renters actually paid
$2,991/mo
on a $3,000 asking rent — under ask by $9
- Of the asking rent
- 99.7%
- Leased over asking
- 10.5%
From 19 leases that closed here in the last 12 months.
Rent or buy in Balfour
24.8 years
of rent, at the going rate here, adds up to what a home here costs.
Median sold price
$657,792
24 sales
Median rent
$2,207/mo
19 leases
Gross rental yield
4.03%
before costs
Both figures come from deals that actually closed in Balfour over the last 12 months. Gross yield is annual rent divided by price; it does not account for taxes, fees, maintenance, vacancy or financing.
Every month behind these charts — Balfour, rentals
| Month | Closed | Median | Middle half | Days | % of ask |
|---|---|---|---|---|---|
| Sep 2026 | 1 | Not enough leases this month to report a median | |||
| Aug 2026 | 1 | Not enough leases this month to report a median | |||
| Jul 2026 | 3 | Not enough leases this month to report a median | |||
| Jun 2026 | 1 | Not enough leases this month to report a median | |||
| May 2026 | 1 | Not enough leases this month to report a median | |||
| Mar 2026 | 3 | Not enough leases this month to report a median | |||
| Feb 2026 | 4 | Not enough leases this month to report a median | |||
| Dec 2025 | 1 | Not enough leases this month to report a median | |||
| Nov 2025 | 3 | Not enough leases this month to report a median | |||
| Oct 2025 | 1 | Not enough leases this month to report a median | |||
| Sep 2025 | 2 | Not enough leases this month to report a median | |||
| Aug 2025 | 1 | Not enough leases this month to report a median | |||
| Jul 2025 | 1 | Not enough leases this month to report a median | |||
| May 2025 | 1 | Not enough leases this month to report a median | |||
| Apr 2025 | 1 | Not enough leases this month to report a median | |||
| Mar 2025 | 2 | Not enough leases this month to report a median | |||
| Jan 2025 | 1 | Not enough leases this month to report a median | |||
| Dec 2024 | 1 | Not enough leases this month to report a median | |||
| Nov 2024 | 2 | Not enough leases this month to report a median | |||
| Oct 2024 | 4 | Not enough leases this month to report a median | |||
| Sep 2024 | 1 | Not enough leases this month to report a median | |||
| Aug 2024 | 4 | Not enough leases this month to report a median | |||
| Jul 2024 | 3 | Not enough leases this month to report a median | |||
| Jun 2024 | 2 | Not enough leases this month to report a median | |||
| May 2024 | 1 | Not enough leases this month to report a median | |||
| Apr 2024 | 2 | Not enough leases this month to report a median | |||
| Mar 2024 | 1 | Not enough leases this month to report a median | |||
| Oct 2023 | 2 | Not enough leases this month to report a median | |||
28 of these months closed fewer than 5 leases. A middle value taken over that few is not a market figure — with one lease it is simply that lease — so the count is shown and the median is not. The leases themselves still count toward the 12-month figures above.
What people ask about Balfour
How much does a home cost in Balfour?
Homes in Balfour sold for a median of $657,792 over the 12 months to September 2026, across 24 closed sales — half sold for more and half for less. That is 5.7% lower than the 12 months before it.
How long does it take to sell a home in Balfour?
A home in Balfour took a median of 41 days on the market over the 12 months to September 2026. Homes there closed at 96.6% of the asking price on average, with 8.3% selling over asking.
How much is rent in Balfour?
The median lease in Balfour closed at $2,207 a month over the 12 months to September 2026, across 19 leases.
Is it cheaper to rent or buy in Balfour?
A home in Balfour costs about 24.8 years of the rent on one — the median price of $657,792 against a median rent of $2,207 a month, a gross yield of 4.03%. The shorter that number, the closer buying is to renting before financing costs.
Compiled by HOMEH from leases reported closed in Balfour on the Toronto Regional Real Estate Board MLS® System, through September 2026. Medians are taken over closed prices, not asking prices. Per-square-foot figures use the midpoint of the banded floor-area range MLS® carries, so they describe the group and not any one home. Not an appraisal or an opinion of value.