Every week the Ontario rental market shifts in small but meaningful ways. This report captures a precise snapshot of where rents stood on February 28, 2025 across key Central Ontario markets, including Trenton, Belleville, Kingston, and surrounding communities. Rather than painting broad strokes about monthly trends, this article zeroes in on the data available at the close of February, giving landlords and investors a fixed reference point they can compare against later reports.
At Blue Anchor, we track rental listing data regularly because the numbers we see on the ground in Belleville, Trenton, and Quinte West do not always match the provincial headlines. End-of-month snapshots are particularly useful because they capture the market after the typical mid-month listing surge has settled, giving a cleaner read on what tenants were actually being asked to pay heading into March.
If you want to see how conditions evolved over the following weeks, our February 22, 2025 Ontario rental market report covers the data from one week earlier, and our March 2025 Ontario rental market trends and insights picks up where this snapshot leaves off.
Trenton and Quinte West: What the Numbers Showed on February 28
Trenton remained a relatively thin market by listing volume at the end of February, which is typical for this time of year. Fewer landlords list in late winter, and the tenants who are actively searching tend to be motivated, often relocating for work at CFB Trenton or moving ahead of a spring lease start. That combination of low supply and focused demand kept asking rents firm.
| Unit Type | Active Listings | Average Asking Rent |
|---|---|---|
| Studio | 1 | $1,200 |
| 1 Bedroom | 1 | $1,756 |
| 2 Bedroom | 3 | $1,683 |
| 3 Bedroom | 2 | $2,525 |
| 4 Bedroom | 1 | $1,700 |
The 4-bedroom unit at $1,700 stands out as an outlier, likely reflecting an older unit or a landlord who has held the tenancy for some time and is re-listing at a below-market rate. The 3-bedroom average of $2,525 is more consistent with what we see for newer or recently renovated detached homes in Quinte West. At Blue Anchor, we manage several properties in this corridor and can confirm that well-presented 3-bedroom homes in Trenton are genuinely achieving rents in the $2,400 to $2,600 range when brought to market with professional listings and proper tenant screening.
For landlords with properties in this area, our Trenton property management services are built around maximizing that kind of outcome.
Belleville: A Deeper Market With More Price Variation
Belleville consistently offers more listing depth than Trenton, which means more data points and a clearer picture of where the market actually sits. At the end of February 2025, the Belleville rental market showed a healthy range of unit types, with 2-bedroom units dominating active inventory as they typically do.
| Unit Type | Active Listings | Average Asking Rent |
|---|---|---|
| 1 Bedroom | 6 | $1,620 |
| 2 Bedroom | 11 | $1,895 |
| 3 Bedroom | 5 | $2,310 |
| 4 Bedroom | 2 | $2,650 |
The 1-bedroom average of $1,620 reflects a mix of apartment-style units and basement suites. In our experience managing rentals across Belleville, the gap between a well-maintained 1-bedroom in a purpose-built building and a dated basement suite can be $200 to $300 per month, even when both are listed as 1-bedrooms. Landlords who invest in presentation, fresh paint, and updated fixtures consistently land at the higher end of that range.
The 2-bedroom segment at $1,895 is where most of the competition sits. Tenants searching in this range have options, which means landlord responsiveness, clear lease terms, and a professional showing process matter more than they did two or three years ago when vacancy was near zero. At Blue Anchor, we use self-showing technology to give prospective tenants immediate access to view properties, which reduces the time a unit sits vacant. You can read more about why that approach works in our post on why self-showings are safer for landlords.
Kingston: The University Effect at End of February
Kingston operates on a different rental calendar than most Ontario cities because of Queen's University and St. Lawrence College. By late February, a significant portion of the student-adjacent rental market has already been locked up for September. What remains active at the end of February tends to be either non-student housing or units that did not lease during the January-February student rush.
Non-student 1-bedroom units in Kingston were averaging approximately $1,780 to $1,850 at the end of February 2025, with 2-bedroom units ranging from $2,000 to $2,400 depending on location and condition. Downtown and near-campus units commanded the upper end of that range. Units further from the university core, particularly in the north end and west end, were more competitive and in some cases sat longer on the market.
For investors considering Kingston as part of a Central Ontario portfolio, the dual demand base of students and non-students creates both opportunity and complexity. Lease timing, tenant screening criteria, and lease structure all require careful thought in that market.
What February 28 Data Tells Us About Spring Demand
End-of-February data is a useful leading indicator for spring leasing activity. Historically, the listings that remain active at the end of February either get absorbed quickly in March as tenant search activity picks up, or they linger because they are overpriced or poorly presented. In 2025, the pattern held true across most Central Ontario markets.
At Blue Anchor, we pay close attention to days-on-market alongside asking rent figures. A unit listed at $1,900 that leases in four days tells a different story than one listed at $1,850 that sits for three weeks. The February 28 snapshot captures asking prices, but landlords should understand that actual achieved rents and time-to-lease are the metrics that really determine whether a property is performing.
One pattern we noticed heading into March 2025 was that 3-bedroom and larger units were moving more slowly than 1 and 2-bedroom units across most markets. This is partly seasonal, as families with school-age children tend to move in summer rather than spring, and partly a reflection of affordability pressure at higher price points. A 3-bedroom at $2,500 per month requires a household income of roughly $100,000 to meet standard qualification thresholds, and that pool of qualified applicants is smaller than it was in 2022 or 2023.
Tenant screening remains one of the most important tools a landlord has in this environment. Finding the right tenant for a larger unit takes more time and a more thorough process. Our detailed breakdown of how Blue Anchor screens tenants explains exactly what we look for and why.
Regulatory Context: What Ontario Landlords Needed to Know in February 2025
The regulatory environment for Ontario landlords at the end of February 2025 was shaped by several ongoing factors. The 2025 rent increase guideline was 2.5%, applicable to most tenancies that began before November 15, 2018. Landlords with newer tenancies, or vacant units being re-listed, were not subject to guideline restrictions and could set rents at market rates.
The Landlord and Tenant Board continued to face significant hearing backlogs at this time, which meant that landlords dealing with non-payment or other issues were often waiting months for resolution. This made the front-end work of tenant selection even more important. An N4 notice for non-payment of rent under the Residential Tenancies Act starts a process that, in early 2025, could take four to six months or longer to resolve through the LTB. Choosing the right tenant in the first place is always less costly than pursuing an L1 application after the fact.
Bill 60, the Fighting Delays, Building Faster Act, was working its way through the legislative process at this point and would later bring changes intended to address LTB backlogs. Our post on Bill 60 and what it means for landlords covers those changes in detail.
Cobourg, Port Hope, and Picton: Smaller Markets, Steady Demand
Outside the Belleville-Trenton corridor and Kingston, the smaller markets of Cobourg, Port Hope, and Picton each showed their own characteristics at the end of February 2025.
Cobourg maintained steady demand driven by commuters to the Greater Toronto Area who are priced out of Durham Region. 2-bedroom units in Cobourg were averaging in the $1,800 to $2,000 range, with detached 3-bedroom homes pushing $2,400 to $2,700. The commuter demographic tends to be stable, employed, and motivated to maintain a good tenancy, which makes Cobourg an attractive market for landlords who prioritize low turnover.
Picton and Prince Edward County showed a more seasonal pattern. The short-term rental market in the County pulls some properties out of the long-term pool entirely, which reduces supply and can push long-term rents higher for tenants who need year-round housing. At Blue Anchor, we focus exclusively on long-term residential management, and we see genuine demand from County residents who want stable, well-managed housing rather than seasonal arrangements. Our Picton property management services are designed for landlords who want consistent, compliant tenancies in that market.
Frequently Asked Questions
Why does a February 28 snapshot matter compared to a monthly average?
Monthly averages smooth out fluctuations that happen within the month. A February 28 snapshot captures the market at a specific moment, which is useful for comparing week-over-week or month-end-to-month-end. It also reflects the listings that were still active after the mid-month wave had cleared, giving a cleaner read on units that had not yet leased.
Were rents in Central Ontario rising or falling at the end of February 2025?
The data from late February 2025 showed asking rents that were largely flat compared to the same period in 2024, with modest softening in some 3-bedroom and larger categories. 1 and 2-bedroom units remained firm. This was consistent with broader provincial trends showing that the sharp rent increases of 2021 to 2023 had moderated significantly.
How does the 2025 rent increase guideline affect these numbers?
The 2025 guideline of 2.5% applied to existing tenancies covered under the Residential Tenancies Act. It did not cap rents on vacant units or units first occupied after November 15, 2018. So the asking rents in this report reflect market rates for new tenancies, not guideline-restricted increases on existing ones.
What should a landlord do if their unit was sitting vacant at the end of February 2025?
First, compare your asking rent to the averages in this report for your unit type and city. If you are at or above market, consider whether presentation, photos, or listing quality might be the issue rather than price. If you are priced correctly and still not getting applications, the problem is usually in how the property is being shown or how inquiries are being handled. At Blue Anchor, we track days-on-market closely and adjust our approach quickly when a unit is not generating the response it should.
Does Blue Anchor manage properties in all the markets mentioned in this report?
Yes. At Blue Anchor, we actively manage long-term residential rental properties in Belleville, Trenton, Quinte West, Cobourg, Oshawa, Port Hope, and Picton. We do not manage short-term or vacation rentals. If you own a rental property in any of these markets and want to understand what professional management looks like, our Belleville property management and Cobourg property management pages are a good starting point.
Conclusion
The February 28, 2025 snapshot shows a Central Ontario rental market that was steady but not surging. Asking rents were holding in most categories, vacancy was low but not as tight as the pandemic-era peaks, and the larger unit segments were showing early signs of softening. For landlords, the key takeaway is that market conditions in early 2025 rewarded preparation: well-priced units with professional listings and a smooth showing process leased quickly, while overpriced or poorly presented units sat.
At Blue Anchor, we help landlords in Central Ontario stay on the right side of that equation. From pricing strategy and tenant screening to lease administration and owner draws paid by the 15th of the same month rent is collected, our process is built to protect your investment and reduce the headaches that come with self-managing. If you want to talk through what your property might achieve in the current market, reach out through our website or explore our owner draw schedule to understand exactly how we handle your rental income.
Disclaimer: Rental figures in this report are based on active listing data and internal observations as of February 28, 2025. They are intended as general market reference points and should not be relied upon as formal appraisals or legal advice. For guidance specific to your property or tenancy, consult a qualified professional or visit Tribunals Ontario for Residential Tenancies Act resources.
