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City in Ontario

Homes for rent under $1M in London

657 homes in London are listed for rent under $1M, which is 100% of everything for rent. Detached houses are the largest group, and the most active neighbourhoods are London East and London South.

suburban affordable family-friendly

422,324 people lived in London at the 2021 Census, in 174,660 households. 58% of households owned their home and 42% rented. The most common homes were single-detached houses (49%) and apartments in buildings of five or more storeys (22%). 52% of homes were built before 1981, and 11% since 2011. 86% of commuters went to work by car and 6% by public transit.

Population of 422,324

London, Ontario

Homes for Rent in London Under $1M

Day to dayLivability

Walkability

out of 100 · averaged over 242,364 past and present listings

Average walk score reported on listings here

5.6

Schools near listings

out of 10 · averaged over 242,364 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

$599,900

16% below Ontario

In London

$599,900

In Ontario

$716,900

Median monthly rent

$2,200/mo

12% below Ontario

In London

$2,200

In Ontario

$2,499

$466

Per square foot

≈ 22.7 years

Of rent to match the purchase price

On the marketMarket snapshot

For sale

2,182

Median $599,900

Houses 1,495 · Condos 688

For rent

660

Median $2,200

Houses 374 · Condos 286

Recently sold

Recently leased

Market data as of 2026-08-16. 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

Affordable compared to provincial median prices
Variety of housing types available
Many parks for outdoor activities
Active rental market

Keep in mind

Walkability score is low at 21
Limited public transit options

The feel of the placeLifestyle

Daily life in London is suburban with access to parks and some amenities. The area is suitable for those who enjoy a quieter environment.

Great for first-time buyers families renters

Within the boundaryWhat's nearby

The boundary

420.5 km²

Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.

277

Parks

233

Playgrounds

Transit stations

Grocery stores

290

Restaurants

122

Cafés

Gyms

Libraries

Pharmacies

Counted across all 420.5 km² of London. From OpenStreetMap, as of 2026-10-26.

The schoolsWhich schools, and how they rate

5.4/10

Average rating of the 109 rated schools in this area

131

Elementary

Secondary

Orchard Park Public School
Public · Grades JK–8 · Thames Valley DSB
10.0/107.7 over 5 yrs
1st of 3,045 Ontario elementary schools
305 students · EQAO 2024-2025
Masonville Public School
Public · Grades JK–8 · Thames Valley DSB
9.2/109.0 over 5 yrs
68th of 3,045 Ontario elementary schools
755 students · EQAO 2024-2025
Jack Chambers Public School
Public · Grades JK–8 · Thames Valley DSB
9.1/109.0 over 5 yrs
77th of 3,045 Ontario elementary schools
685 students · EQAO 2024-2025
Old North Public School
Public · Grades JK–8 · Thames Valley DSB
9.1/108.0 over 5 yrs
77th of 3,045 Ontario elementary schools
465 students · EQAO 2024-2025
John Dearness Public School
Public · Grades JK–8 · Thames Valley DSB
9.0/108.0 over 5 yrs
91st of 3,045 Ontario elementary schools
280 students · EQAO 2024-2025
London Central Secondary School
Public · Grades 9–12 · Thames Valley DSB
8.7/108.8 over 5 yrs
33rd of 742 Ontario secondary schools
955 students · EQAO 2024-2025

Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside London, 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

422,324

Population (2021)

420.5 km²

Area

1,004

People per km²

40.2

Median age

$85,869

Median income

58%

Own their home

2.5

People per household

174,660

Households

Every age

Children (under 15)16.3%
Working age (15–64)65.9%
Seniors (65+)17.8%

What is built here

Detached houses48.8%
Semi-detached3.4%
Townhouses13.3%
Duplexes2.5%
Low-rise apartments10.2%
High-rise apartments21.5%

Own or rent

58%Owners

42%Renters

Across 174,660 households

When it was built

Mostly 1961–1980

1960 or earlier22%
1961–198030%
1981–199014%
1991–200011%
2001–20055%
2006–20106%
2011–20155%
2016–20216%

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.

24.8%
Born outside Canada: 29.1%
Hold a degree or higher: 53.6%
Employment rate: 5.8%
Commute by transit: 86%
Commute by car: 1.8
Children per family: $75,466
Median income after tax: $100,171
Average household income: 14%
Living on a low income: $1,319/mo
Renters pay, per month: $1,292/mo
Owners pay, per month: $549,751
Median home value at census: 33.9%
Renters spending 30%+ of income on housing: 12.5%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 570 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, HOMEH school registry, Photo: © Wikimedia Commons contributors (CC BY-SA)

Questions, answered

Common questions about homes for rent under $1M in London

How many homes in London rent for under $1M?

657 homes in London are listed for rent under $1M today, 100% of the 660 homes for rent. Their median rent is $2,200/mo.

All rentals in London

What kind of home can I rent in London for under $1M?

Under $1M, London has detached houses (212), condo apartments (154) and condo townhouses (111) for rent. Most have 1 to 4 bedrooms.

Houses for rent in London

Keep looking

More Rentals in London

660 homes are for rent in London. Browse by neighbourhood or home type below — and get the industry's highest Cashback Rebate when you buy with HOMEH.