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City in Ontario

Homes for rent under $1M in Peterborough

65 homes in Peterborough are listed for rent under $1M, which is 100% of everything for rent. Multiplexes are the largest group, and the most active neighbourhoods are Town Ward 3 and Ashburnham Ward 4.

community-oriented family-friendly affordable

81,910 people lived in Peterborough at the 2021 Census, in 35,395 households. 59% of households owned their home and 41% rented. The most common homes were single-detached houses (57%) and low-rise apartments (18%). 64% of homes were built before 1981, and 5% since 2011. 85% of commuters went to work by car and 3% by public transit.

Population of 81,032

Peterborough, Ontario

Homes for Rent in Peterborough Under $1M

Day to dayLivability

Walkability

out of 100 · averaged over 49,569 past and present listings

Average walk score reported on listings here

5.1

Schools near listings

out of 10 · averaged over 49,569 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

$585,000

18% below Ontario

In Peterborough

$585,000

In Ontario

$716,900

Median monthly rent

$1,995/mo

20% below Ontario

In Peterborough

$1,995

In Ontario

$2,499

$323

Per square foot

≈ 24.4 years

Of rent to match the purchase price

On the marketMarket snapshot

For sale

379

Median $585,000

Houses 334 · Condos 45

For rent

Median $1,995

Houses 61 · Condos 4

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 median home price at $599,999
Good number of parks and recreational spaces
Strong community feel with a population density of 1387.5 per km²

Keep in mind

Limited public transit options
Walkability score of 55, moderate for walking

The feel of the placeLifestyle

Daily life in Peterborough is relaxed with access to parks and local shops. Residents enjoy a community-oriented atmosphere.

Great for first-time buyers families renters

Within the boundaryWhat's nearby

The boundary

60.7 km²

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

103

Parks

171

Playgrounds

Grocery stores

107

Restaurants

Cafés

Gyms

Libraries

Pharmacies

Counted across all 60.7 km² of Peterborough. From OpenStreetMap, as of 2026-10-12.

The schoolsWhich schools, and how they rate

5.0/10

Average rating of the 28 rated schools in this area

Elementary

Secondary

St. Peter Catholic Secondary School
Catholic · Grades 9–12 · Peterborough Victoria Northum Clarington CDSB
6.7/106.7 over 5 yrs
275th of 742 Ontario secondary schools
1,035 students · EQAO 2024-2025
ÉÉC Monseigneur-Jamot
Independent · French · Grades JK–8 · CSC MonAvenir
6.6/106.8 over 5 yrs
1,165th of 3,045 Ontario elementary schools
245 students · EQAO 2024-2025
St. Paul Catholic Elementary School
Catholic · Grades JK–8 · Peterborough Victoria Northum Clarington CDSB
6.4/106.4 over 5 yrs
1,300th of 3,045 Ontario elementary schools
330 students · EQAO 2024-2025
St. Catherine Catholic Elementary School
Catholic · Grades JK–8 · Peterborough Victoria Northum Clarington CDSB
6.3/106.3 over 5 yrs
1,366th of 3,045 Ontario elementary schools
610 students · EQAO 2024-2025
Westmount Public School
Public · Grades JK–8 · Kawartha Pine Ridge DSB
6.3/106.4 over 5 yrs
1,366th of 3,045 Ontario elementary schools
475 students · EQAO 2024-2025
Edmison Heights Public School
Public · Grades JK–6 · Kawartha Pine Ridge DSB
6.2/106.8 over 5 yrs
1,444th of 3,045 Ontario elementary schools
530 students · EQAO 2024-2025

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

81,910

Population (2021)

61.1 km²

Area

1,341

People per km²

44.4

Median age

$76,801

Median income

59%

Own their home

2.3

People per household

35,395

Households

Every age

Children (under 15)14.1%
Working age (15–64)61.5%
Seniors (65+)24.4%

What is built here

Detached houses56.7%
Semi-detached2.2%
Townhouses8.2%
Duplexes7.3%
Low-rise apartments17.9%
High-rise apartments7.3%

Own or rent

59%Owners

41%Renters

Across 35,395 households

When it was built

Mostly 1960 or earlier

1960 or earlier37%
1961–198028%
1981–199012%
1991–20009%
2001–20054%
2006–20104%
2011–20153%
2016–20212%

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.

9.5%
Born outside Canada: 22.8%
Hold a degree or higher: 48.8%
Employment rate: 3.1%
Commute by transit: 84.8%
Commute by car: 1.7
Children per family: $68,459
Median income after tax: $90,286
Average household income: 13.1%
Living on a low income: $1,241/mo
Renters pay, per month: $1,158/mo
Owners pay, per month: $527,660
Median home value at census: 38%
Renters spending 30%+ of income on housing: 11.7%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 130 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 Peterborough

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

65 homes in Peterborough are listed for rent under $1M today, 100% of the 65 homes for rent. Their median rent is $1,995/mo.

All rentals in Peterborough

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

Under $1M, Peterborough has multiplexes (26), detached houses (22) and freehold townhouses (6) for rent. Most have 1 to 5 bedrooms.

Multiplexes for rent in Peterborough

Keep looking

More Rentals in Peterborough

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